March 14, 2018
Colorado Springs, CO
COLORADO SPRINGS, CO, March 14, 2018 – Insurance Technologies, LLC, a provider of sales and regulatory automation solutions for the insurance and financial services industries, reported strong financial results for the 2017 fiscal year and a positive growth outlook for 2018. Insurance Technologies continues to expand FireLight® functionality, fueling rapid FireLight adoption. When paired with the continued enhancements to its industry leading ForeSight® Illustrations solution, they combine to provide a transformative financial services sales experience that is driving the overall growth of Insurance Technologies and the increased value they provide their clients.
“It is rewarding to see our efforts in developing solutions that not only align with the industry and our clients’ needs and strategic direction; but also provide the capabilities to further advance their operational and sales opportunities, providing strong results for both our organization and for our clients,” said David Fenimore, chief executive officer, Insurance Technologies. “Our clients are blazing the trail to digitally transform all aspects of the agents’ selling and consumers’ buying experience of insurance and retirement products; and Insurance Technologies is honored to be a part of their journey and success.”
Through 2017, Insurance Technologies continued its commitment on its core business performance across development, implementation services, and relationship management to successfully support its clients’ strategic initiatives. Focus on development was key in 2017, enabling strategic enhancements to Insurance Technologies existing ForeSight Illustration Enterprise solution and FireLight e-Application solution that supported clients in conducting business across multiple lines of business. Insurance Technologies saw a substantial increase of transactions submitted through FireLight across Life, Annuity, Medical Supplement, Disability Income, Mutual Funds and other lines of business with a 72% transaction growth in 2017.
“Our organization is making the investment in R&D to drive dynamic development of a truly digital end-to-end sales lifecycle solution within a single platform. Insurance Technologies is seeing the results of delivering a product that is truly transformative. We have over 40 carriers participating on FireLight supporting thousands of life, annuity, disability and long term care products. Our solutions serve more than 60 distribution firms supporting over 150,000 advisors and the client base is expanding by more than 50% every year,” said Doug Massey, executive vice president of sales and relationship management, Insurance Technologies. “After showcasing our strategic product development and direction at our 2018 Client Conference last month, we are excited to see how our clients will realize the added value and avenues for greater growth our product advancements are delivering in today’s multi-channel sales environment.”
In 2017, Insurance Technologies also announced the strategic expansion of the FireLight e-Application solution to a comprehensive end-to-send sales platform, offering integral sales components, cohesive sales and buying experiences, and robust flexibility to support multi-channel sales strategies across all lines of business. Insurance Technologies’ strategic direction and collaboration with client partners is leading the way through 2018 in efficiently automating, simplifying and digitalizing the whole selling and buying experience for agents and consumers.
About Insurance Technologies
Insurance Technologies provides innovative sales and regulatory automation solutions to the insurance and financial services industries. We provide carriers and distributors a suite of integrated sales tools and experiences to better serve advisors, agents and consumers. The unique architecture and flexibility of our solutions deliver front and back-office configurability and usability to support multiple business strategies, encourage cross-channel growth, and evolve with regulatory changes. From pre-sale functions through e-application to post-sale account management, our solutions provide the key sales components to create an automated and cohesive sales journey across all lines of insurance, retirement and investment products. For more than 20 years, our focus at Insurance Technologies has never wavered: Be a dependable partner to our clients, make the complex simple, and develop best-in-class sales solutions that transform business processes and empower sales.