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VRSK - Verisk Analytics Inc News Story

$178.77 3.8  2.1%

Last Trade - 07/05/21

Sector
Technology
Size
Large Cap
Market Cap £20.43bn
Enterprise Value £22.44bn
Revenue £2.03bn
Position in Universe 454th / 6854

Verisk’s FAST Helps Pacific Life Launch New Variable Annuities, Increasing Speed to Market and Improving Customer Experience

Thu 18th March, 2021 3:30pm
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JERSEY CITY, N.J., March 18, 2021 (GLOBE NEWSWIRE) -- FAST, a Verisk (Nasdaq:
VRSK) business, announced today that Pacific Life’s new variable annuity
product, designed for Registered Investment Advisors (RIAs), is in production
with FAST-hosted solutions. Seamlessly integrated into Pacific Life’s
workflow, FAST’s solutions support Pacific Life’s new business, policy
administration and distribution management capabilities. The launch marks an
important milestone in Pacific Life’s digital transformation, which is
focused on enabling greater product innovation, increasing speed to market for
new products and processes, and expanding digital relationships with
distributors and customers.

“FAST’s platform and partnership have been instrumental in expediting our
digital transformation,” said Don Edstrom, AVP of Digital Transformation and
Policy Administration within the Retirement Solutions Division at Pacific
Life. “Its robust set of end-to-end platform capabilities and agile approach
enabled us to increase our product design flexibility while significantly
reducing our time to market. We have aggressive plans for additional variable
and indexed annuities this year, while rapidly expanding capabilities to
benefit our customers.”

Verisk is dedicated to helping insurers accelerate product introduction,
streamline new business and policy administration to enhance the customer
experience and support profitable growth. Using FAST’s no-code platform,
insurers can rapidly configure and launch complex products to meet the needs
of an evolving market.

“I am impressed with Pacific Life’s commitment to transforming its
insurance ecosystem to deliver the greatest flexibility and experience for its
distributors and policyholders,” said Tom Famularo, Managing Director and
Co-Founder of Verisk’s FAST. “It is great to see how well our teams
partnered together to achieve such a rapid and powerful milestone on its
digital transformation.”

To support life insurers across the policy life cycle, Verisk has developed a
suite of interconnected solutions that apply advanced analytics, automation
and machine learning to existing and emerging data sources. The solutions,
seamlessly integrated with the FAST platform, are designed to transform
current workflows in life insurance underwriting, life and pension analytics,
claim insights, compliance and fraud detection, and actuarial and portfolio
modeling.

To learn more about Verisk’s life insurance solutions, visit verisk.com/life
(https://www.verisk.com/insurance/life-insurance/).

About FAST
 FAST, which stands for “Flexible Architecture, Simplified Technology,” is
a Verisk (Nasdaq: VRSK
(http://www.globenewswire.com/News/Listing?symbol=VRSK&exchange=2)) business
and a leading provider of end-to-end software for the life insurance and
annuity markets. FAST, located in Iselin, N.J., provides a SaaS suite of
out-of-the-box components that life insurers can use to quickly enhance or
replace their legacy systems. To learn more about FAST,
visit www.fasttechnology.com.

About Verisk
Verisk (Nasdaq:VRSK) provides predictive analytics and decision-support
solutions to customers in the insurance, energy and specialized markets, and
financial services industries. More than 70 percent of the FORTUNE 100 relies
on the company’s advanced technologies to manage risks, make better
decisions and improve operating efficiency. The company’s analytic solutions
address insurance underwriting and claims, fraud, regulatory compliance,
natural resources, catastrophes, economic forecasting, geopolitical risks, as
well as environmental, social and governance (ESG) matters. Celebrating its
50(th) anniversary, the company continues to make the world better, safer and
stronger, and fosters an inclusive and diverse culture
(https://www.verisk.com/about/statement-on-racial-equity-and-diversity/) where
all team members feel they belong. With more than 100 offices in nearly 35
countries, Verisk consistently earns certification by Great Place to Work
(https://www.greatplacetowork.com/certified-company/1288593). For more:
Verisk.com (https://www.verisk.com/), LinkedIn
(https://www.linkedin.com/company/verisk-analytics/), Twitter
(https://twitter.com/Verisk), Facebook
(https://www.facebook.com/VeriskAnalytics/) and YouTube
(https://www.youtube.com/c/Verisk_VRSK).

Media Contact
Brett Garrison
 Verisk@Edelman.com
 917-639-4903

(https://www.globenewswire.com/NewsRoom/AttachmentNg/b5d7b791-2d4f-4f5f-b469-18d25906d035)



GlobeNewswire, Inc. 2021
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