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CORE SYSTEMS

AmeriLife Partners with FAST to Administer Annuities

Staff Writer | June 22, 2017

FAST announces that AmeriLife Group is in production with FAST Insurance Components to provide new business and policy administration support for AmeriLife’s proprietary annuity business.

The implementation project, which took  less than eight months using a team of seven people from FAST, included conversion of an existing block of business, as well as integration to support  policy print, agency, commissions, reserves, and accounting. 

FAST was selected by AmeriLife as a strategic insurance administration platform and the project established a solid foundation for future capabilities in business process automation and rapid product introduction as well as enabled AmeriLife to shut down its prior annuity platform.

“We had very aggressive timelines to meet and I’m proud of the way the AmeriLife and FAST teams collaborated to accomplish this strategic initiative,” says Paul Carter, AmeriLife COO. “With this first project, we’ve proven FAST Insurance Components provide the business capabilities we were looking for and allowed us to establish a foundation for administration of proprietary insurance products in the future.”

“I’m proud that FAST and our customers are setting a new standard for core systems implementations in the life and annuity industry. It’s an exciting time to be in our industry,” says Tom Famularo, CEO of FAST.


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