M Financial Group Uses FAST Software to Enable Digital Ecosystem for Member Firms

The Portland, Oregon-based firm will use FAST’s technology to further differentiate its Member Firm and client experience.

(Image credit: George Gorman.)

M Financial Group (Portland, Ore), has licensed FAST (Iselin, N.J., a Verisk company) software to help provide innovative products to its Member Firms and their clients. M Financial, a distributor of life insurance products and services through 146 Member Firms in 36 states and the U.K., says it will use FAST software to generate additional growth opportunities by developing and offering compelling product solutions.

Wes Thompson, President and CEO, M Financial.

The software, hosted by FAST, will serve as a key component of M Financial’s plan to accelerate its digital transformation and enhance the experience of its Member Firms and customers, according to a joint statement.

“M Financial has a sophisticated market and needed a platform that could quickly incubate and launch products across M’s Partner Carriers while creating a fully digitized platform,” comments Wes Thompson, President and CEO, M Financial. “FAST will support our transformation initiatives and provide the necessary functionality to meet our objectives. FAST’s flexible architecture and continual upgrade approach made it a clear choice as our platform for the future.”

Carl Peterson, Chairman of M’s Product Development Group, adds, “This partnership will enable us to further differentiate our innovative Member Firm and client experience. Our producers and clients expect an exceptional level of service.”

Meeting Needs Creatively and Efficiently

Tom Famularo, Managing Director, FAST.

“FAST is excited to work with M Financial, enabling them to autonomously and proactively address the needs of their Member Firms,” comments Tom Famularo, Managing Director, FAST. “At FAST, we continue to prove that our platform enables our clients, be they insurers or distributors, to meet their customers’ needs in significantly more efficient and creative ways.”

Verisk, which acquired FAST in December 2019, reports that it 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.

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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 AnthODonnell@IIReporter.com or (503) 936-2803.

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