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Insurance Technologies Releases FireLight® 2.9 with Added and Enhanced Capabilities including Money Settlement and Client Fill & Sign, to Support New Business, Replacement, SubPay and Post-Issue Processing

COLORADO SPRINGS, Colo., Nov. 01, 2016 (GLOBE NEWSWIRE) -- Insurance Technologies, LLC, a provider of sales and regulatory automation solutions for the insurance and financial services industries, announced today the release of FireLightⓇ 2.9. The new platform release delivers additional functionality to enhance new business, exchange/replacement/transfer, subsequent premium and post-issue processing efficiencies.

FireLight 2.9 release enhancements include, but are not limited to, subpay data capture and submission processing, money settlement, replacement processing with integration to capture ceding carrier information, post-issue and service form support, form regression testing tool and admin tool enhancements.

The workflow flexibility of FireLight along with new 2.9 framework enhancements, enables the collection of subsequent premium data to process subpay transactions. Meeting unique business processes, FireLight supports varying transfer file formats including proprietary, ACORD 103 and The Depository Trust & Clearing Corporation’s (DTCC) Applications & Premium (APP) and Subsequent Premiums (SUB) services. To further support new business and subpay transactions, FireLight 2.9 includes system and file developments to support money settlement at DTCC. This payment option is available to FireLight clients who are full-settling members of DTCC’s National Securities Clearing Corporation (NSCC).

FireLight 2.9 also delivers the replacement processing addition that integrates with Cooperative Technologies 1035YellowPages. This integration provides access to pull surrendering carrier information and processing requirements into FireLight to dynamically drive the replacement workflow and signature process, making processing of replacements easier and seamless.

The 2.9 post-issue transaction enhancement provides the ability to submit any contract changes for inforce policies through post-issue servicing forms. FireLight simplifies post-issue processing by leveraging single sign-on, form tagging and rules to pre-fill post-issue forms while meeting individual post-issuing processes with flexible output file types, data system feeds and submission locations.

An additional feature in the 2.9 release enables applications to be sent to clients directly to complete and sign applications in one step, providing an enhanced client experience while expediting the sales process. Behind the scene rules drive required advisor assigned data points to be completed prior to allowing client fill and sign capabilities. This new client fill and sign enhancement supports any application, including but not limited to, new business, post-issue, and replacement processing and Department of Labor Fiduciary Rule disclosure and contract documents.

“The 2.9 release includes several valuable enhancements that will increase usability and assist our clients to complete business easier and faster,” said Katherine Dease, vice president of product management. “We are excited to continue to enhance FireLight to provide our clients a sales platform that will help them move to a fully digital sales process.”

Part of the FireLight 2.9 release is the implementation of a regression testing tool that enables clients to improve processes around form implementation and development within FireLight. The testing tool delivers a holistic testing view that identifies form, product package, rule and data changes implemented. This allows clients to verify that business rules, form behavior and outbound integration communications have not been incorrectly changed, decreasing testing time and increasing test productivity.

The 2.9 release also includes ten Admin tool enhancements providing FireLight clients additional self-service capabilities to manage their FireLight environment, rules, products, review queues, workflows and more without the need for Insurance Technologies technical resources.

FireLight is a SaaS solution, providing clients automatic access to the release enhancements at no additional cost. FireLight clients have the flexibility to implement release enhancements into their FireLight to meet their individual business processes and workflows.

About Insurance Technologies (www.insurancetechnologies.com)
Based in Colorado Springs, Insurance Technologies provides innovative sales and regulatory automation solutions to the insurance and financial services industries. Our product suite supplies carriers and distribution partners accurate tools to automate and accelerate the sales process allowing more time to develop new sales opportunities. ForeSight® is a mobile point-of-sale illustration platform that supports all aspects of the insurance sales process for multiple lines of business across diverse distribution channels with customized user experience and content branding options. FireLight® is a device-agnostic, user-friendly, easy to deploy e-application business fulfillment platform that automates any existing sales process across all lines of business facilitating straight-through processing.

Insurance Technologies Contact: Kristin Wills VP, Marketing 719-442-6400 kwills@insurancetechnologies.com

Source: Insurance Technologies