April 20, 2017
Colorado Springs, CO
COLORADO SPRINGS, CO, April 20, 2017 – Insurance Technologies, LLC, a provider of sales and automation solutions for the insurance and financial services industries, announced today the latest release of FireLight®, comprised of key system enhancements that support Financial Institutions in seamlessly integrating DOL Fiduciary Rule compliance requirements into their sales processes. The new FireLight features include a pre-sale client needs determination transaction, product filtering based on needs captured, and fees and commissions transaction disclosure fulfillment options, providing broader capabilities to Financial Institutions to manage DOL Fiduciary Rule demands and other pre-sale processing requirements within a single sales process across multiple product types.
“Impending and advancing regulations require automation technology to be flexible and scalable to meet an ever changing compliance environment and the resulting workflow changes. Delivering agile and flexible capabilities is key and that continues to be our goal with each FireLight release,” said Katherine Dease, vice president of product management, Insurance Technologies. “With this release our DOL support focuses on what firms need most in automation technology; key sales components and workflow configuration flexibility that meet specific firm needs to build a consistent, defensible and unbiased recommendation sales process. These firms need a flexible workflow that is reviewed and signed off by the Financial Institution to meet fiduciary rule responsibilities.”
The new FireLight pre-sale transaction enables firms to use their own questionnaire for collecting, evaluating and recording clients’ financial and need profiles prior to any product recommendations. With defined question sets and behind-the-scenes rules, firms can ensure advisors capture required information in support of best interest recommendations. Firms can leverage the data captured through the pre-sale transaction process with the FireLight product-filtering feature, enabling advisors to quickly filter products and only show options that align with client needs. Along with multiple fees and expense disclosure fulfillment options, e-signature and e-application processing, FireLight delivers an intuitive sales process for advisors while creating a recordable, auditable and defensible proven sales workflow.
“Many of our clients, including seven super IMOs who have obtained financial institution status, are proactively preparing for the impending DOL Fiduciary Rule, and are presently integrating the new FireLight DOL components into their existing sales processes,” said Katherine Dease. “Our strategic DOL sales components further expand our clients’ unique workflows, compliance and oversight capabilities, and provide the sales support their advisors need in a DOL Fiduciary rule sales environment.”
About Insurance Technologies
Based in Colorado Springs, Insurance Technologies provides innovative sales and regulatory automation solutions to the insurance and financial services industries. Our product suite supplies carriers and distribution partners accurate tools to automate and accelerate the sales process allowing more time to develop new sales opportunities. ForeSight® is a mobile point-of-sale illustration platform that supports all aspects of the insurance sales process for multiple lines of business across diverse distribution channels with customized user experience and content branding options. FireLight® is a device-agnostic, user-friendly, easy to deploy e-application business fulfillment platform that automates any existing sales process across all lines of business facilitating straight-through processing.