Today, Insurance Technologies, LLC, a provider of sales and regulatory automation solutions for the insurance and financial services industries, announced that a subsidiary of The Phoenix Companies, Inc., Phoenix Life Insurance Company has selected  and will deploy FireLight(R), an e-application business fulfillment solution. FireLight provides Phoenix with system flexibility, customized workflows and a phased deployment approach.

Firelight is intended to deliver an electronic needs-analysis and e-application process that automates suitability review, and supports a drop-ticket style sales approach, a spokesperson for Insurance Technologies stated. FireLight includes e-signature features that will support Phoenix’s mobile distribution strategies and enable straight-through mobile processing for all lines of business for its distribution partners.

"We are excited to expand our existing relationship with Phoenix with the deployment of FireLight and to assist Phoenix in streamlining their annuity and life business and sales processes," said David Fenimore, EVP & CIO, Insurance Technologies.

He concluded that the automation of Phoenix's electronic fulfillment process is expected to make it easier for agents to process business with Phoenix Life by simplifying the application process, increasing speed to market and reducing operational and issuance expenses.

Mark Fitzgerald, National Sales Manager for Saybrus Partners, Phoenix's Distribution Company, stated that it is critical for advisors to effectively communicate with their clients due to a variety of evolving annuity products available today in order to provide them with the right products that align with their unique needs.

Phoenix currently illustrates annuity products with ForeSight, a point-of-sale illustration platform also from Insurance Technologies. Phoenix intends to offer front-office, straight-through processing capabilities by integrating the illustration-to-application process. Phoenix’s distribution partners would then be able to illustrate and initiate business submissions through a simplified e-application data flow process, Insurance Technologies said.

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