Vantis Life Insurance has deployed a business process driven software suite called FAST Insurance Components to support commissions processing for its life and annuity business.
FAST Insurance Components is developed by Flexible Architecture, Simplified Technology (FAST), a US-based services-oriented-architecture (SOA) solutions provider for life and P&C insurers.
The suite comprises of commissions-related capabilities like schedule management, calculation, reporting and accounting.
The suite, which includes more than 40 pre-built business process driven software components, provides fully integrated, pre-configured software applications for policy administration, new business and underwriting, distribution management, insurance portals and claims.
By deploying the suit, insurance carriers can cost effectively remove data redundancy and functionality in their enterprises. It also allows carriers to achieve legacy modernization through a fully SOA-compliant alternative to conventional vendor systems.
FAST CEO Tom Famularo said, "Several of the folks on our team have known the Vantis Life people since our days at NaviSys. It's particularly gratifying to see multiple former customers choosing to do business with us at FAST."
