Verisk’s FAST Recognized as a Leader in 2021 Gartner® Magic Quadrant™ for Fourth Consecutive Year
August 12 2021 - 9:00AM
Verisk’s FAST platform for the insurance and annuity industry has
been recognized for the fourth year in a row as a Leader in the
Gartner Magic Quadrant report.
Gartner recognized Verisk’s FAST, in the August 2021 edition* as
a Leader for Individual and Group Life Insurance Policy
Administration Systems in North America. Gartner has recognized
FAST in this Magic Quadrant report for the past six years.
FAST, which stands for “Flexible Architecture, Simplified
Technology,” provides a scalable technology platform that life
insurers can use to help enhance or replace their legacy policy
administration systems quickly. Since its acquisition by Verisk in
2019, FAST has continued to build seamless integration that allows
processes, decisions and consumer experiences to be driven by data
and analytics.
“Once again, ongoing innovation from Verisk’s FAST team,
including our growing capability in the group space, is capturing
the industry’s attention. We’re grateful to Gartner for continuing
to recognize our efforts to help life insurers accelerate their
digital transformation agendas,” said Tom Famularo, managing
director and founder of Verisk’s FAST. “Our customers’ successes
propel our success, and we thank them for helping us continue to
learn, adapt and get better. The result is scalable solutions that
help automate processes, improve digital engagement with the
marketplace, accelerate product development and control
expenses.”
To support life insurers across the policy life cycle, Verisk
has developed a suite of solutions that apply advanced analytics,
automation and machine learning to existing and emerging data
sources. The solutions 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.
“Many life insurers are pushing end-to-end modernization forward
with help from Verisk’s FAST platform,” said Maroun Mourad,
president of global underwriting at Verisk. “Our customer-focused
team is by their side throughout with a deep bench of creative and
experienced professionals who are helping us grow in the life
market.”
To learn more about Verisk’s life insurance solutions, visit
verisk.com/life.
* Gartner, Inc. “Magic Quadrant for Life Insurance Policy
Administration Systems, North America,” Richard Natale, Rajesh
Narayan, 10 August 2021.
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About Verisk’s FASTFAST, which stands for
“Flexible Architecture, Simplified Technology,” is a Verisk
(Nasdaq:VRSK) 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 50th anniversary, the
company continues to make the world better, safer and stronger and
fosters an inclusive and
diverse culture 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. For
more: Verisk.com, LinkedIn, Twitter, Facebook,
and YouTube.
Media Contact:
Ali Krueger Herbert
Ali.Krueger@verisk.com
551-204-6592
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