FAST is announcing that FBL Financial Group, Inc. (NYSE: FFG) (“FBL”) has licensed FAST Insurance Components to serve as the core policy administration and new business system for its life insurance business. Once implemented, the solution will support new business, underwriting, policy administration and payouts and enable FBL to deliver superior service to both customers and agents.
“After assessing the policy administration and new business solutions on the market, we determined that FAST offered unique configurability and flexibility,” said Rich Kypta, COO of FBL’s life companies. “This is a major commitment for FBL and we believe FAST is the right partner for this endeavor.”
"We feel honored to have FBL as a client,” said Tom Famularo, CEO of FAST. “We’re looking forward to helping them realize the potential of the FAST solution.”
About FBL Financial Group
FBL Financial Group, Inc. is a holding company whose primary operating subsidiary is Farm Bureau Life Insurance Company. Farm Bureau Life Insurance Company underwrites, markets and distributes life insurance and annuities to individuals and small businesses. In addition, FBL Financial Group, Inc. manages all aspects of two Farm Bureau affiliated property-casualty insurance companies for a management fee. For more information, please visit www.fblfinancial.com.
FAST, which stands for "Flexible Architecture, Simplified Technology", is a privately-held company located in Edison, NJ founded by the former leaders of NaviSys. FAST focuses on solving the challenges our financial services and insurance clients face as they seek to modernize their systems environments or completely replace legacy systems.