Press Release
June29, 2009
Colorado Springs, CO
Insurance Technologies is Recognized by ACORD with Early Adopter Award for it’s use of Forms
Colorado Springs, CO -- Insurance Technologies has received a
distinguished ACORD Accomplishment Early Adopter Award at the 2009 ACORD
LOMA Insurance Systems Forum in Orlando, FL.
ACORD’s Recognition of Insurance Technologies for the 'Early Adopter
Award - Forms' was principally based upon Insurance Technologies
implementation of the ACORD 951 form within the VisibleChoiceTM
environment. The VisibleChoice™ multi-carrier annuity sales platform
employs a business process which works with ACORD’s standardized
automated forms for the 1035 forms/”switch letter” and annuity
application. The VisibleChoice™ solution-set has embedded ACORD Forms
in the core processing to reduce expense and time to market for the
solution/customers.
Insurance Technologies supports ACORD’s standardized forms for streamlined workflows in our VisibleChoice™ multi-carrier annuity sales platform. The end result is a reduction in redundant processing and improved efficiencies for the Carrrier and their trading partners. VisibleChoice™ provides improved compliance analysis coupled with on-demand illustrations, resulting in more rapid and suitable contract issuance for the selling organization.
“Being able to provide a solution which lowers cost through the
utilization of this standardized form within VisibleChoice™ has been
our focus at Insurance Technologies. We appreciate ACORD’s recognition
of our implementation for the new standardized form” says David
Fenimore, EVP, Engineering & CIO for Insurance Technologies.
“On behalf of ACORD, I congratulate Insurance Technologies on receiving the Early Adopter Forms Award this year. Insurance Technologies has long been recognized as a leader in their commitment to the implementation of ACORD standards." said Lloyd Chumbley, AVP, Standards Technology.
About Insurance Technologies
Based in Colorado Springs, Colorado, Insurance Technologies LLC offers
point-of-sale illustration software to the insurance and financial
services industries. Insurance Technologies award-winning product, ForeSight™,
supports all product types, including Life, Annuities, Critical Illness,
DI, and LTC – all on a single mobile platform. Our latest innovation
VisibleChoice™ is a multi-carrier annuity sales platform designed to
leverage multiple annuity products and features. Together, they improve
point-of-sale effectiveness and help close more sales quickly.
About ACORD (www.acord.org)
Based in New York, ACORD (Association for Cooperative Operations
Research and Development) is a global, nonprofit insurance association
whose mission is to facilitate the development and use of standards for
the insurance, reinsurance and related financial services industries.
With offices in London as well, ACORD accomplishes its mission by
remaining an objective, independent advocate for sharing information
among diverse platforms. ACORD Standards and services improve efficiency
and expand market reach.
Affiliated with ACORD are hundreds of insurance and reinsurance
companies, and thousands of agents and brokers, related financial
services organizations, solution providers, and industry organizations
worldwide.
For more information, and/or a copy of the complete release contact:
Keri Atkins
Inside Sales Manager & Operations
1-719-442-6400
katkins@insurancetechnologies.com