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NTT DATA Announces First Implementation of Global Insurance Digital Platform for F&G
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
NTT DATA has integrated FAST into its Global Insurance Digital Platform (GIDP) to enhance support for life and annuity products. The rollout includes the Fixed Index Linked Annuity (FILA) from F&G, enhancing digital experiences for producers and clients. The GIDP aims to increase operational efficiency and facilitate rapid product development while modernizing customer interactions. This collaboration reflects a strong partnership between NTT DATA and F&G, promising improved data access and service capabilities for insurers.
Positive
Successful integration of FAST into GIDP enhances product support.
Launch of FILA product expands NTT DATA's insurance offerings.
Increased efficiency and rapid product development enhance competitiveness.
Negative
None.
NTT DATA has successfully integrated FAST within its new, Global Insurance Digital Platform (GIDP), enabling support for a full spectrum of life and annuity products
PLANO, Texas--(BUSINESS WIRE)--
NTT DATA, a digital business and IT services leader, recently announced its first implementation of a new annuity product, Fixed Index Linked Annuity (FILA) from F&G, a leading provider of annuities and life insurance, as part of the FAST partnership.
“We are proud to be partnering with Verisk’s FAST Technology to support F&G,” said Rob Baughman, Senior Vice President, Financial Services and Insurance, NTT DATA Services. “This next step in our partnership brings modern technology to provide F&G’s producers and customers with a modern, digital experience.”
NTT DATA’s Global Insurance Digital Platform (GIDP) enables insurers such as F&G to increase efficiency, rapidly develop new products, convert existing blocks of business, and digitize the customer experience through its digital TPA and business processing as a service (BPaaS) offering.
“This is a win for all parties, and FAST looks forward to helping F&G continue to provide the best experience for their customers,” said Tom Famularo, Managing Director and Founder, FAST. “There’s enormous potential in our collaboration with NTT DATA to support the changing needs of modern insurers, offering a digital servicing platform to address currently sold products, even top sellers.”
“F&G leveraged our long-standing, successful relationship with NTT DATA and the FAST partnership to help launch FILA, our new category defining annuity product,” said Matt Christensen, Senior Vice President and Chief Operating Officer, F&G. “Through this new platform, we are positioning ourselves to more streamlined service, better access to data and real-time transactions, and overall improvements to our capabilities to better serve clients.”
To learn more about Verisk’s life insurance solutions, visit verisk.com/life
About FAST
FAST, which stands for “Flexible Architecture, Simplified Technology,” is a Verisk (Nasdaq:VRSK) business and a leading provider of end-to-end software for the life insurance and annuity markets. FAST, located in Iselin, N.J., provides a software-as-a-services (SaaS) suite of out-of-the-box components that life insurers can use to quickly enhance or replace their legacy systems. To learn more about FAST, visit www.fasttechnology.com.
About Verisk
Verisk (Nasdaq:VRSK) provides predictive analytics and decision-support solutions to customers in the insurance, energy and specialized markets, and financial services industries. More than 70 percent of the FORTUNE 100 relies on the company’s advanced technologies to manage risks, make better decisions and improve operating efficiency. The company’s analytic solutions address insurance underwriting and claims, fraud, regulatory compliance, natural resources, catastrophes, economic forecasting, geopolitical risks, as well as environmental, social, and governance (ESG) matters. Celebrating its 50th anniversary, the company continues to make the world better, safer and stronger and fosters an inclusive and diverse culture where all team members feel they belong. With more than 100 offices in nearly 35 countries, Verisk consistently earns certification by Great Place to Work. For more: Verisk.com, LinkedIn, Twitter, Facebook, and YouTube.
About F&G
F&G is part of the FNF family of companies. F&G is committed to helping Americans turn their aspirations into reality. F&G is a leading provider of annuity and life insurance products and is headquartered in Des Moines, Iowa. For more information, please visit fglife.com.
“F&G” is the marketing name for Fidelity & Guaranty Life Insurance Company issuing insurance in the United States outside of New York. Life insurance and annuities issued by Fidelity & Guaranty Life Insurance Company, Des Moines, IA.
About NTT DATA
NTT DATA is a leading IT services provider and global innovation partner headquartered in Tokyo, with business operations in over 50 countries. Our emphasis is on long-term commitment, combining global reach with local intimacy to provide premier professional services varying from consulting and systems development to outsourcing. For more information, visit www.nttdata.com.
