F-Ins is the Insurance Solution of Choice for Ernst & Young and Fidelity Life

Insurance giant Fidelity Life Assurance to deploy Fast Forward’s F-Ins solution to bring in efficiencies.

After stringent evaluation of global insurance solutions by Ernst & Young, Fast Forward’s F-Ins solution is chosen to power Fidelity Life Assurance’s Individual Life and Group Pensions business lines.

Ernst & Young, representing Fidelity Life, launched a global search for the perfect Insurance software and after rigorous evaluation of a slew of global insurance solutions zeroed in on F-Ins from Fast Forward. The exercise had E&Y and Fidelity going through stringent evaluation of a large selection of global insurance solutions from some of the best known companies in the field, followed by detailed conduct of solution demonstrations by the short listed companies and finally visit by senior personnel to reference sites of the final shortlist of 3 vendors to gauge performance of the systems in live environments. It was F-Ins from Fast Forward Technologies that was eventually selected.

INSURANCE giant Fidelity Life Assurance Company has struck a deal with Fast Forward, for the installation of F-Ins - Fast Forward’s insurance IT system at its facilities in Zimbabwe. Fidelity‘s business lines - both individual life and group pensions across all its branches will be IT enabled using the F-Ins suite. Fidelity individual life has a robust product line that includes life, investment and retirement annuity plans, while the Fidelity group pensions business offers insurance plans in Group pensions, Group Life assurance, Group loan protection and mortgage, Unitized preservation funds, Deferred annuity funds, investments among others.The company has embarked on this technology project with Fast Forward for the deployment of F-Ins to further its objective of improving business efficiency and effectiveness through better interaction with regional offices and clients on the one side and a desire for enhanced market penetration, improved decision-making on the other.

The Regional Director, P S Iyer said “The fact that F-Ins was chosen by Ernst &Young and Fidelity after evaluating the best names in Insurance software in a global hunt for the perfect insurance solution places Fast Forward in a position of strength among global Insurance software providers. I am happy for Fast Forward.” “It is FFT’s strong R&D focus that has set F-Ins apart from the others. Our focus – to keep raising the bar - will continue.”

The director, Fast Forward - Harish said “FF is indeed elated to be able to provide Fidelity Insurance with a solution offering that has the flexibility to address their evolving and changing need and the scalability to take Fidelity’s IT into the future”.

Fast Forward will activate its ‘transformation deployment’ model to roll out F-Ins at Fidelity deploying the best insurance domain experts from its Asia Pacific facilities, with the advanced R&D capabilities of its Indian IDC providing state of art methodologies on-site.

About Fidelity Life Assurance

Fidelty Life Assurance Company Limited is one of the leading life assurance companies in Zimbabwe. Last year Fidelity went on the market through a flotation of an Initial Public Offer to re-engineer its operations, particularly upgrading its information technology to enable the company to carry out business faster and handle large volumes. Fidelity Life public relations manager Mrs Josephine Chinhengo says \"The new system F-Ins is likely to change our business as it is advanced, making it easier for us to respond to client services\" She said funds were aimed at financing the Computerisation program, branch network expansion and product development, enhancing the company’s underwriting capacity and to providing working capital.\"We anticipate that the whole process of installing the equipment, deploying F-Ins and training our members of staff will be complete by year-end next year”.

About Fast Forward

Fast Forward Technologies specializes in authoring advanced software for the Insurance vertical. Fast Forward’s thrust in developing innovative technologies and creating path breaking business models has often been recognized by industry and governments. Hewlett Packard, The Infocomm Development Authority Singapore, Virtual Reality communications, The CRM Institute, USA are some of the organizations that have collaborated with Fast Forward Technologies. Fast Forward Technologies, which focuses on authoring futuristic software frameworks for the Insurance sector has been working on the F-Ins software framework for 6 years. “The framework, built around ‘intelligent’ technologies instantly catapults an Insurance company into the digital arena, wiring up all touch point stakeholders into a technology web. The customers, the shareholders, the intermediaries, the agents, the sales force, the financiers, and the employees, once ‘tied in’ to the framework can experience underwriting services of digital quality.

About F-Ins

Encompassing simplicity across modules, F-Ins is a comprehensive enterprise solution for Property & Casualty, Individual and Group Life, and Health Insurance. With ‘easy to rollout’ workflow, F-Ins ships with a repository of ready-to-use reports and supports local languages.F-Ins is designed to provide a 360-degree view across the enterprise of a multi-site insurance organisation powering performance with its Digital dashboard functions that string together all touch points stakeholders of an insurance play – wiring the customers, brokers, sales force, intermediaries, investors and the IT user group. Both Life, Non-life Insurance Organizations can leverage F-Ins to automate their enterprise and maintain a competitive edge. Its advanced Re-Insurance functionality makes it truly comprehensive. “Easy to deploy and train, with an easy customization interface to bridge the need gaps, F-Ins transcends the typical perception of a software tool and has won recognition as a comprehensive technology strategy to propel an insurance company to success in the New Economy”