Press Release
March 24, 2010
Colorado Springs, CO
82% of Variable Annuity carriers using ForeSight™ gained market share in 2009
Colorado Springs, Colorado, March 24, 2010 — Insurance Technologies LLC, the premier provider of sales illustration and point-of-sale software for the insurance industry, announces the strong performance of its clients using ForeSight™ to illustrate and sell their VA products.
While Variable Annuity sales dropped 18% in 2009 over 2008, carriers using ForeSight™ to illustrate their VA products faired far better with a 1% gain in sales. The 2009 LIMRA U.S Individual Annuity Sales report shows that only 18% of the ”Top 20” Variable Annuity Manufacturers not using ForeSight™ as their VA Sales Illustration System gained market share position in 2009. During the same period 82% of the ”Top 20” using ForeSight™ gained market share position.
ForeSight™ is the insurance industry’s most widely used insurance sales illustration system. ForeSight™ clients include 20 Variable Annuity carriers. Twelve of these carriers are in the “Top 20” Variable Annuity Manufacturers and two of them rank at positions #1 and #2. ForeSight™ is also used by 3 of the top 10 Life insurance carriers, along with two dozen other companies.
“Insurance Technologies continued focus on delivering innovative and technologically advanced point-of-sale solutions while ensuring that our clients are poised for sales growth especially during economically challenging climates as the one we experienced in 2009 has had a tremendous impact on our stability and continued success as the premier provider of point-of-sale illustration solutions” says David Fenimore, EVP, Engineering & CIO for Insurance Technologies. “ForeSight™ 5.0 continues to demonstrate our commitment to simplify and aid in the education and selling of complex insurance products, provide customers with a one-stop platform for all line of business selling, and to be progressively built on a technology platform that would continue to easily integrate with other front and back-office systems to accelerate contract issuance.”
About Insurance Technologies
Based in Colorado Springs, Colorado, Insurance Technologies LLC offers
point-of-sale illustration software to the insurance industry. Insurance
Technologies award-winning product, ForeSight™, supports all product
types, including Life, Annuities, Critical Illness, DI, and LTC – all on
a single mobile platform.
For more information, please contact:
Keri Atkins
Inside Sales Manager & Operations
1-719-442-6400
katkins@insurancetechnologies.com