Lincoln Heritage Life Goes Live with FAST’s eApp as First Step of Transformation Program
FAST, a Verisk (Nasdaq:VRSK) business, announced today that Lincoln Heritage Life Insurance Company, a leading provider of whole life insurance, is in production with FAST’s electronic Application (eApp). The implementation is the first step in a multi-phase legacy transformation program at Lincoln Heritage, which will also include FAST’s distribution management and policy administration.
“While selecting a holistic insurance platform was important, we had an urgent need to provide a premium eApp capability to our valued agents,” said Matt Londen, senior vice president and CFO at Lincoln Heritage. “Successfully implementing a state-of-the-art eApp capability, including digital signature and pre-filling of data, allows our agents to spend time talking about customers’ needs instead of filling out a form. We’ve already started the next phase of our transformation program and feel ideally positioned to meet the needs of both our agents and customers while adding more digital capabilities.”
“Lincoln Heritage has embraced our platform and methodology to address a critical need,” said Tom Famularo, managing director and founder of FAST. “While their legacy transformation plans are ambitious, they’ve already started to realize significant benefits. We couldn’t be happier to have helped Lincoln Heritage achieve their goals.”
To support life insurers across the policy life cycle, Verisk has developed a suite of interconnected solutions that apply advanced analytics, automation, and machine learning to existing and emerging data sources. The solutions, seamlessly integrated with the FAST platform, are designed to transform current workflows in life insurance underwriting, life and pension analytics, claim insights, compliance and fraud detection, and actuarial and portfolio modeling.
To learn more about Verisk's life insurance solutions, visit verisk.com/life.
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) provides predictive analytics and decision-support solutions to customers in the insurance, energy and specialized markets, and financial services industries. More than 70 percent of the FORTUNE 100 relies on the company’s advanced technologies to manage risks, make better decisions and improve operating efficiency. The company’s analytic solutions address insurance underwriting and claims, fraud, regulatory compliance, natural resources, catastrophes, economic forecasting, geopolitical risks, as well as environmental, social, and governance (ESG) matters. Celebrating its 50th anniversary, the company continues to make the world better, safer and stronger, and fosters an inclusive and diverse culture where all team members feel they belong. With more than 100 offices in nearly 35 countries, Verisk consistently earns certification by Great Place to Work. For more: Verisk.com, LinkedIn, Twitter, Facebook, and YouTube.
Edelman (for Verisk)