NTT DATA Announces First Implementation of Global Insurance Digital Platform for F&G
NTT DATA has successfully integrated FAST within its new, Global Insurance Digital Platform (GIDP), enabling support for a full spectrum of life and annuity products
PLANO, Texas, October 12, 2021 – NTT DATA, a digital business and IT services leader recently announced its first implementation of a new annuity product, Fixed Index Linked Annuity (FILA)) from F&G, a leading provider of annuities and life insurance, as part of the FAST partnership.
“We are proud to be partnering with Verisk’s FAST Technology to support F&G,” said Rob Baughman, Senior Vice President, Financial Services and Insurance, NTT DATA Services. “This next step in our partnership brings modern technology to provide F&G’s producers and customers with a modern, digital experience.”
NTT DATA’s Global Insurance Digital Platform (GIDP) enables insurers such as F&G to increase efficiency, rapidly develop new products, convert existing blocks of business, and digitize the customer experience through its digital TPA and business processing as a service (BPaaS) offering.
“This is a win for all parties, and FAST looks forward to helping F&G continue to provide the best experience for their customers,” said Tom Famularo, Managing Director and Founder, FAST. “There’s enormous potential in our collaboration with NTT DATA to support the changing needs of modern insurers, offering a digital servicing platform to address currently sold products, even top sellers.”
“F&G leveraged our long-standing, successful relationship with NTT DATA and the FAST partnership to help launch FILA, our new category defining annuity product,” said Matt Christensen, Senior Vice President and Chief Operating Officer, F&G. “Through this new platform, we are positioning ourselves to more streamlined service, better access to data and real-time transactions, and overall improvements to our capabilities to better serve clients.”
To learn more about Verisk’s life insurance solutions, visit verisk.com/life
FAST, which stands for “Flexible Architecture, Simplified Technology,” is a Verisk (Nasdaq:VRSK) business and a leading provider of end-to-end software for the life insurance and annuity markets. FAST, located in Iselin, N.J., provides a software-as-a-services (SaaS) suite of out-of-the-box components that life insurers can use to quickly enhance or replace their legacy systems. To learn more about FAST, visit www.fasttechnology.com.
Verisk (Nasdaq:VRSK) provides predictive analytics and decision-support solutions to customers in the insurance, energy and specialized markets, and financial services industries. More than 70 percent of the FORTUNE 100 relies on the company’s advanced technologies to manage risks, make better decisions and improve operating efficiency. The company’s analytic solutions address insurance underwriting and claims, fraud, regulatory compliance, natural resources, catastrophes, economic forecasting, geopolitical risks, as well as environmental, social, and governance (ESG) matters. Celebrating its 50th anniversary, the company continues to make the world better, safer and stronger and fosters an inclusive and diverse culture where all team members feel they belong. With more than 100 offices in nearly 35 countries, Verisk consistently earns certification by Great Place to Work. For more: Verisk.com, LinkedIn, Twitter, Facebook, and YouTube.
F&G is part of the FNF family of companies. F&G is committed to helping Americans turn their aspirations into reality. F&G is a leading provider of annuity and life insurance products and is headquartered in Des Moines, Iowa. For more information, please visit fglife.com.
About NTT DATA
NTT DATA – part of the NTT Group – is a trusted global innovator of IT and business services, headquartered in Tokyo. We help clients transform through consulting, industry solutions, IT modernisation and managed services. NTT DATA enables clients to move confidently into the digital future. We are committed to our clients’ long-term success and combine global reach with local expertise to operate in over 50 countries. Visit us at nttdata.com