Lincoln Heritage Life Insurance Company Licenses FAST Insurance Components to Enable Digital Transformation
Iselin, N.J., March 11, 2020— FAST, a Verisk (Nasdaq:VRSK) business, announced today that Lincoln Heritage Life Insurance Company, a leading provider of final expense insurance, has selected FAST Insurance Components to help enable its digital transformation, from end-to-end.
Lincoln Heritage plans to use FAST software initially to help its agents accelerate sales of whole life insurance. In the future, Lincoln Heritage plans to use FAST software as its strategic end-to-end platform.
“We chose FAST because we believe they can help us continue to provide the best service to our agents and customers in the final expense industry,” said Matt Londen, senior vice president and CFO at Lincoln Heritage. “FAST’s ability to quickly deliver automation to our high-volume sales processes and to enable digital tools for our customers will allow us to serve even more people during some of the worst days of their lives.”
“We’re happy that Lincoln Heritage has selected FAST to help them manage their growing business and are excited about their implementation plans,” said Tom Famularo, managing director of FAST. “Lincoln Heritage will be getting the benefit of our automation and cloud-hosting offering, allowing them to dynamically scale to meet their high volumes and bring automation to their end-to-end processes.”
Verisk, which acquired FAST in December, has developed a suite of solutions that apply advanced analytics, automation, and machine learning to existing and emerging data sources. The solutions are designed to transform existing workflows in life insurance underwriting, life and pension analytics, claim insights, compliance and fraud detection, and actuarial and portfolio modeling.
About Lincoln Heritage Life Insurance Company
Founded by Jack Londen in 1963, Lincoln Heritage Life Insurance Company is the leading provider of agent-produced final expense life insurance in the U.S. with operations in 49 states. More than one million policyholders depend on Lincoln Heritage Life Insurance Company to be by their sides in their times of need, and thousands of agents take pride knowing their hard work serves families in their communities.
FAST, which stands for “Flexible Architecture, Simplified Technology,” is a Verisk (Nasdaq:VRSK) business and a leading provider of end-to-end software for the life insurance and annuity markets. FAST, located in Iselin, N.J., provides a SaaS suite of out-of-the-box components that life insurers can use to quickly enhance or replace their legacy systems. To learn more about FAST, visit www.fasttechnology.com.
Verisk (Nasdaq:VRSK) is a leading data analytics provider serving customers in insurance, energy and specialized markets, and financial services. Using advanced technologies to collect and analyze billions of records, Verisk draws on unique data assets and deep domain expertise to provide first-to-market innovations that are integrated into customer workflows. Verisk offers predictive analytics and decision support solutions to customers in rating, underwriting, claims, catastrophe and weather risk, global risk analytics, natural resources intelligence, economic forecasting, and many other fields. Around the world, Verisk helps customers protect people, property, and financial assets.
Headquartered in Jersey City, N.J., Verisk operates in 30 countries and is a member of Standard & Poor's S&P 500® Index. In 2018, Forbes magazine named Verisk to its World's Best Employers list. For more information, please visit www.verisk.com.
Edelman (for Verisk)