ISELIN, N.J.--(BUSINESS WIRE)--FAST announced today that Global Bankers Insurance Group is in production with FAST Insurance Components after an impressive four month implementation. The FAST Platform provides new business and policy administration capabilities for Global Bankers’ annuity business. The scope of this first release included 10 integration points, including accounting, correspondence, inbound and outbound banking feeds for payment and disbursement processing, policy print, and data warehouse integration.
Global Bankers utilized FAST’s unique implementation methodology that leverages FAST’s out-of-the-box processing functionality, integration capabilities and configurable product engine to complete implementations in unprecedented timeframes.
“Member company Colorado Bankers Life Insurance Company® chose the launch of its new flexible premium deferred annuity, called Preferred Asset Growth® II, as our pilot project on the FAST Platform” said Joe Lurie, Chief Information Officer of Global Bankers. “Critical to its successful launch was speed to market, which we achieved with a one team model approach and strong partnership with FAST. From this pilot, we plan to implement a series of products on FAST.”
“We were pleased to achieve our aggressive timelines and launch the new product on schedule,” said Renga Appan, a senior member of the Global Bankers Leadership team in India. “The collaboration between the FAST and Global Bankers team members was exceptional which helped us leverage FAST product capabilities better, in addition to achieving a faster turnaround. We’re now looking forward to further roll out of the platform as part of our long term strategy.”
“It’s great that customers like Global Bankers and others are demonstrating what’s possible with the FAST platform. Among our customer base, three to six month implementations are becoming common and we’re very pleased about that,” said Tom Famularo, Chief Executive Officer of FAST.
About Global Bankers Insurance Group
Global Bankers Insurance Group is a family of insurance and reinsurance companies focused on life insurance and annuities. Among its member companies are Colorado Bankers Life Insurance Company®, Southland National Insurance Corporation, Bankers Life Insurance Company, and Mothe Life Insurance Company. Global Bankers is part of privately held Eli Global, LLC, a federation of autonomous businesses serving a diversified range of industries including insurance, financial services, healthcare services, and others. For further information about Global Bankers, see www.globalbankers.com.
FAST, which stands for "Flexible Architecture, Simplified Technology,” is a privately-held company located in Iselin, NJ. FAST focuses on solving the challenges our financial services and insurance clients face as they seek to modernize their systems environments or completely replace legacy systems. Visit: www.fasttechnology.com