Insurance Technologies has announced that Canada-based Foresters, a fraternal benefit society, has selected its ForeSight as its sales illustration platform. The new technology will support all Foresters’ distribution channel partners in the US with their sales of individual term, universal life, whole life, and deferred and immediate annuities.
ForeSight is suited for Foresters, and will provide high value to their producers by clearly demonstrating the ability of Foresters’ products to meet a prospective member’s evolving needs. ForeSight also satisfies Foresters state and federal regulatory requirements and internal disclosure mandates. This is accomplished without compromising ForeSight value as a sales tool.
Lauren Bradley, Foresters vice president of product management & marketing, said: Foresters is acquiring the market-leading illustration system technology to support our strategy of attracting and retaining independent distributors and IMOs. This is where ForeSight will be invaluable to Foresters. By customizing this illustration system to best position our unique products and services, we enhance our sales platform to help us deliver value added services to our distribution partners.
Paul Skordilis, execute vice president, worldwide sales and marketing at Insurance Technologies, said: On a single system, ForeSight will support all of Foresters business needs, from illustrations and in-force reprojections to electronic applications and straight-through-processing. The key value is how our powerful ForeSight .NET framework and Acord XML transaction standards will provide Foresters with automation and reduce their dependency on manual policy service and issue processes. This will improve their overall service levels while reducing their costs of doing business.