AAA Life Chooses FAST Insurance Components for Digital Transformation

The insurer saw fast as a way of enabling a world-class member experience without dedicating excessive spending on retrofitting its legacy systems.

(Image source: AAA Life homepage.)

AAA Life Insurance Company (Livonia, Michigan), part of the American Automobile Association, has licensed FAST Insurance Components (Iselin, N.J.) to serve as its core new business and policy administration system for life insurance and annuities.

Matt Scully, VP and CIO, AAA Life.

“In our current environment, far too much of our spending on digital initiatives is allocated to retrofitting our legacy systems,” comments Matt Scully, VP and CIO, AAA Life. “AAA Life selected FAST because its technical architecture and robust out-of-the-box functionality can allow us to reverse that equation and enable a digital transformation.”

“We are committed to providing an excellent customer experience for our members,” adds Cheryl Johns, VP, Core Modernization, AAA Life.   “After extensive due diligence, we are confident the capabilities of the FAST platform will enable us to provide a world-class experience for our members.”

“I’m very proud that as FAST has increased our market share, we are continuously reducing the total cost of ownership of the platform.  Like every carrier, AAA Life has a unique set of needs and value drivers and I’m extremely pleased that we were able to create a win/win value proposition that our competitors couldn’t match,” comments Tom Famularo, CEO, FAST.

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803.

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