Insurance Technologies Partners with FIDx to Deliver Annuity Illustrations to Envestnet

Carriers can leverage their existing Insurance Technologies solutions to offer a suite of annuities within the Envestnet insurance exchange platform.

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Insurance Technologies, LLC, a Colorado Springs, Colo.-based provider of sales and regulatory automation solutions for the insurance and financial services industries, has undertaken new partnership with Fiduciary Exchange, LLC (FIDx; Berwyn, Pa.), a network designed to seamlessly integrate the brokerage, insurance and advisory ecosystems to deliver annuity illustration and e-application sales capabilities within the Envestnet Insurance Exchange Platform, a wealth management platform.

Rich Romano, CTO, FIDx.

The companies describe the partnership as enabling a new, streamlined way for advisors to integrate annuities into their clients’ portfolios from their wealth management process, which had previously not been available. Using Insurance Technologies’ ForeSight Sales Illustration and FireLight Sales Platform with its FireLight Embedded API, carriers can leverage their existing solutions to offer a suite of annuities within the Envestnet platform, according to a joint statement. “With this connection, advisors never have to leave the system they’re familiar with (Envestnet) to incorporate insurance solutions into a holistic wealth planning offering, while carriers spend less time managing multiple systems and more time conducting business,” the statement asserts.

“We are constantly looking at ways to provide better and more efficient offerings to the brokerage, insurance and advisory organizations utilizing our platform and technology services,” comments Rich Romano, chief technology officer, FIDx. “This strategic partnership with Insurance Technologies is yet another step in meeting that goal. We are thrilled to be working so closely with their team and are dedicated to continuing to develop and expand our technology to meet the needs of advisors and insurance carriers alike.”

Doug Massey, EVP, Sales and Strategic Relationship Management, Insurance Technologies.

Advisors using Envestnet now have the opportunity to conduct needs analysis and provide real-time annuity performance illustrations during client interactions;  and if the product meets the need and the client desires to move forward with the investment, the data collected during the analysis process is transferred directly to the e-Application for completion and e-Signature using the FireLight business rules and technology embedded directly within the Envestnet solution for a seamless end user experience, the joint statement says.

New Capabilities for the Annuities Market

“This partnership encompasses new technology and expertise from both sides, bringing to market something that had never been done before,” comments Doug Massey, EVP, sales and relationship management, Insurance Technologies. “Carriers can now reuse the functionality of FireLight and ForeSight directly in the Envestnet platform, providing a continuous user experience.  We’re excited to be the exclusive illustration provider as well as a strategic e-App solution for FIDx, allowing our carrier clients to cost-effectively offer their products on the Envestnet platform, and look forward to expanding our partnership offerings with FIDx in the future.”

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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 or (503) 936-2803.

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