(Image source: Insurance Supermarket International homepage.)
Insurance Supermarket International Inc. (ISI; Concord, Ontario), an InsurTech distributor that partners with multiple major life insurers, is using Verisk’s FAST (Jersey City, N.J.) technology platform to help expand its presence in the U.S. life insurance market. ISI has moved from its initial engagement with Verisk to launch in a two-month sprint, demonstrating the power of FAST to meet the needs of nimble innovators, according to a Verisk Statement.
ISI will initially use FAST to build a digitally enabled distribution management platform for U.S. agents, helping ISI become the supplier of choice as it brings whole life and eventually term products to market, Verisk says.
From discussions that began in May 2022, small and agile teams at ISI and Verisk moved rapidly to immediately begin development in July, using out-of-the-box FAST integration processes and functionality that will help onboard agents quickly and easily, according to the Verisk statement. The distribution management portion of the project went live in early September, and phases encompassing policy administration and agent portals should follow in Q4.
“The FAST team presented capabilities that were an exceptional match for our ambitious objectives, such as making the agent experience seamless and simple, and Verisk delivered on its promises,” says Vito Trentadue, VP of operations, ISI. “This solution has helped us launch with extraordinary speed and simplicity, and we’re excited to discover the wider capabilities of FAST.”
“Our collaboration with ISI embodies much of what we aim to achieve with and for our clients,” comments Tom Famularo, co-founder and managing director of FAST. “Lean and focused teams on both sides were able to move the process at lightning speed from end to end. Our business-ready package of features and processes is again proving its practical value in a real-world implementation.”