Lincoln Heritage Life Licenses FAST Insurance Components for Digital Transformation

The insurer plans to use FAST software initially to help its agents accelerate sales of whole life insurance, and later as its end-to-end strategic platform.

(Image credit: Emma Byles.)

Lincoln Heritage Life Insurance Company (Phoenix), a national provider of final expense insurance, has selected FAST Insurance Components to help enable its digital transformation, from end-to-end. Lincoln Heritage plans to use FAST (Iselin, N.J.) software initially to help its agents accelerate sales of whole life insurance. In the future, Lincoln Heritage plans to use FAST software as its strategic end-to-end platform.

Matt Londen, SVP, CFO, Lincoln Heritage.

“We chose FAST because we believe they can help us continue to provide the best service to our agents and customers in the final expense industry,” comments Matt Londen, senior VP and CFO, Lincoln Heritage. “FAST’s ability to quickly deliver automation to our high-volume sales processes and to enable digital tools for our customers will allow us to serve even more people during some of the worst days of their lives.”

“We’re happy that Lincoln Heritage has selected FAST to help them manage their growing business and are excited about their implementation plans,” comments Tom Famularo, managing director, FAST. “Lincoln Heritage will be getting the benefit of our automation and cloud-hosting offering, allowing them to dynamically scale to meet their high volumes and bring automation to their end-to-end processes.”

Verisk (Jersey City, N.J.), which acquired FAST in December 2019, has developed a suite of solutions that apply advanced analytics, automation, and machine learning to existing and emerging data sources. The solutions are designed to transform existing workflows in life insurance underwriting, life and pension analytics, claim insights, compliance and fraud detection, and actuarial and portfolio modeling.

Verisk to Acquire FAST

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.

Leave a Comment

(required)