September 6, 2007
Colorado Springs, CO
COLORADO SPRINGS, CO (September 6, 2007) – Insurance Technologies LLC,
the premier provider of insurance sales and marketing software for the
financial services industry, announces that Foresters, a leading
fraternal benefit society, selected Insurance Technologies' ForeSight™
as their sales illustration platform. ForeSight will support all
Foresters' distribution channel partners in the U.S. with their sales of
individual term, universal life, whole life, and deferred and immediate
annuities.
"Foresters is acquiring the market-leading illustration system
technology to support our strategy of attracting and retaining
independent distributors and IMOs," said Lauren Bradley, Foresters Vice
President, Product Management & Marketing. "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."
ForeSight is ideally 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.
"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," says Paul Skordilis,
Execute Vice President, Worldwide Sales and Marketing at Insurance
Technologies. "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."
"Foresters chose ForeSight to fulfill our need for a high performance,
compliant, proven, and easy-to-use online illustration system that could
support our users," adds JS Ledoux, Foresters Director of Product
Management & Marketing. "ForeSight is distribution technology in a
single system solution that delivers all Foresters' needs now and in the
future. We expect it to be a great investment with a strong ROI over
time."
About Insurance Technologies (http://www.insurancetechnologies.com)
Based in Colorado Springs, Colorado, Insurance Technologies LLC offers
point-of-sale illustration software to the insurance and financial
services industries. Insurance Technologies award-winning product,
ForeSight, supports all product types, including Life, Health,
Annuities, Mutual funds, Critical Illness, DI, and LTC – all on a single
mobile platform.
About Foresters
Founded in 1874, Foresters helps individuals and families achieve
financial security with its innovative portfolio of life insurance
products and annuities. Foresters has assets of more than $5.7 billion
with liabilities of $4.5 billion resulting in a surplus of
$1.2 billion (all figures in Canadian dollars as of December 31, 2006)
and an "A" (Excellent) rating by A.M. Best*. Foresters shares its
financial strength with its members, who are customers, through
complimentary life, health and education benefits that help its more
than 745,000 eligible members and their families in the United States,
Canada and the United Kingdom. Foresters provides opportunities that
inspire its members to make a difference in their communities. Foresters
Equity Services, Inc.** and Foresters Securities (Canada) Inc. are
wholly owned subsidiaries of Foresters that offer investment products in
the United States and Canada respectively. For more information, please
visit www.foresters.com
Foresters ™ is a trademark of The Independent Order of Foresters, a
fraternal benefit society, Toronto M3C 1T9.
*An "A" (Excellent) rating is assigned to companies that have a strong
ability to meet their ongoing obligations to policyholders and have, on
balance, excellent balance sheet strength, operating performance and
business profile when compared to the standards established by A.M. Best
Company. In assigning Foresters rating, A.M. Best stated that Foresters
rating outlook is "stable", which means it is unlikely to change in the
near future, assuming Foresters financial strength is maintained and
operations grow. A.M. Best assigns ratings from A++ to F, A++ being
superior ratings and A and A- being excellent ratings.
**Investments offered through Foresters Equity Services, Inc., Member
FINRA, SIPC, 6640 Lusk Blvd, Suite A-202, San Diego, CA 92121 T.858 550
4844, a wholly-owned subsidiary of The Independent Order of Foresters.
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