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M Financial Group Licenses FAST Software to Enable New Digital Ecosystem for Member Firms

04/29/2020 | 01:47pm EST

FAST, a Verisk (Nasdaq:VRSK) business, announced today that M Financial Group has licensed FAST software to help provide innovative products to its Member Firms and their clients. M Financial, a leading distributor of life insurance products and services, will use FAST software to generate additional growth opportunities by developing and offering unique product solutions.

The software, hosted by FAST, will serve as a key component of M Financial’s plan to accelerate its digital transformation and enhance the experience of its Member Firms and customers.

“M Financial has a sophisticated market and needed a platform that could quickly incubate and launch products across M’s Partner Carriers while creating a fully digitized platform,” said Wes Thompson, President and CEO of M Financial. “FAST will support our transformation initiatives and provide the necessary functionality to meet our objectives. FAST’s flexible architecture and continual upgrade approach made it a clear choice as our platform for the future.”

Carl Peterson, Chairman of M’s Product Development Group, stated, “This partnership will enable us to further differentiate our innovative Member Firm and client experience. Our producers and clients expect an exceptional level of service.”

“FAST is excited to work with M Financial, enabling them to autonomously and proactively address the needs of their Member Firms,” said Tom Famularo, Managing Director of FAST. “At FAST, we continue to prove that our platform enables our clients, be they insurers or distributors, to meet their customers’ needs in significantly more efficient and creative ways.”

Verisk, which acquired FAST in December, has developed a suite of solutions that apply advanced analytics, automation, and machine learning to current and emerging data sources. The solutions are designed to transform existing workflows in life insurance underwriting, life and pension analytics, claim insights, compliance and fraud detection, and actuarial and portfolio modeling.

About M Financial

With 146 Member Firms in 36 states and the United Kingdom, M Financial Group is one of the nation’s leading financial services design and distribution companies. Since 1978, M’s network of independent insurance, investment, and executive benefit firms has served the needs of high net worth individuals, corporate executives, successful entrepreneurs, and Fortune 1000 companies. For more information, visit mfin.com.

About FAST

FAST, 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 fasttechnology.com.

About Verisk

Verisk (Nasdaq:VRSK) is a leading data analytics provider serving customers in insurance, energy and specialized markets, and financial services. Using advanced technologies to collect and analyze billions of records, Verisk draws on unique data assets and deep domain expertise to provide first-to-market innovations that are integrated into customer workflows. Verisk offers predictive analytics and decision support solutions to customers in rating, underwriting, claims, catastrophe and weather risk, global risk analytics, natural resources intelligence, economic forecasting, and many other fields. Around the world, Verisk helps customers protect people, property, and financial assets.

Headquartered in Jersey City, N.J., Verisk operates in 30 countries and is a member of Standard & Poor’s S&P 500® Index. In 2018, Forbes magazine named Verisk to its World’s Best Employers list. For more information, please visit verisk.com.

ę Business Wire 2020
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