COLORADO SPRINGS, Colo.--(BUSINESS WIRE)-- Insurance Technologies, LLC, a provider of innovative sales and regulatory automation solutions to the insurance and financial services industry, announced today the launch of VisibleChoice® 3.0. The latest version of Insurance Technologies’ annuity sales and suitability solution for broker-dealers and advisors includes new features to simplify and streamline the annuity sales process.
Chip Kispert, Founder of Beacon Strategies, a broker-dealer focused research firm, said, “Customer suitability and ‘know your client’ demands are not new, but the implementation of FINRA Rules 2090 and 2111 last month have significantly increased the burden of oversight responsibilities on broker-dealers. These new rules expand upon existing FINRA requirements by mandating the capture and analysis of a multitude of new demographic, economic and investment factors from clients to ensure the suitability of investment choices.”
“Based on their deep industry knowledge, Insurance Technologies has developed VisibleChoice, which offers broker-dealers and their advisors a sophisticated, automated due diligence and suitability review for variable annuity products,” said Marshall Levin, Partner of Beacon Strategies. “VisibleChoice effectively guides broker-dealers through the information gathering tasks, performs necessary data management and analysis, and provides standardized, uniform suitability review and documentation. This is an elegantly integrated set of services that no other vendor comes close to providing to support the compliance requirements for the sale of variable annuities.”
VisibleChoice 3.0 new features include:
Del Lang, VP, VisibleChoice® Product Management at Insurance Technologies, said, “We are excited for the launch of VisibleChoice 3.0 and the enhanced features it offers for suitability, management reporting and mobile usage. Our goal is to provide fresh and innovative solutions that help our clients better serve their customers; and this product fills an important due diligence and suitability need. VisibleChoice 2.0 had five times the adoption rate of the previous version, and we look forward to building on that success.”
About Insurance Technologies (www.insurancetechnologies.com)
Based in Colorado, Insurance Technologies provides innovative sales and regulatory automation solutions to the insurance and financial services industry, supplying Carriers, Broker-Dealers, Bankers and Advisors the accurate sales tools allowing them more time to develop new sales opportunities. Our product suite manages the sales process across distribution channels thus providing Straight-Through Processing (STP) resulting in more in good order applications. ForeSight™ is a mobile point-of-sale platform that illustrates all business lines across diverse distribution channels. VisibleChoice® is a multi-carrier annuity sales and suitability solution that compares side-by-side product features and benefits thus reducing compliance risk and increasing suitability. FireLight® is a low cost, flexible and easy to deploy mobile business fulfillment platform that automates any existing sales process across all lines of business.
Source: Insurance Technologies, LLC