The partnership between the two companies will be a multi-phased initiative. In the initial phase, Insurance Technologies will launch a web services infrastructure as part of its VisibleChoice multi-carrier annuity sales platform, and will leverage Blue Frog’s Blue Source platform for uploading, versioning and maintaining standards-based annuity product profile information, said Insurance Technologies.
The Blue Source infrastructure includes a process for the creation and maintenance of accurate product data and supports standardized Acord Product Profile for Annuity (PPfA) data. Blue Source provides an ever-increasing library of specific business rules for a variety of different business uses, version control and full PPfA source control, including development, pilot and production environments.
The next phase of the new Blue Frog – Insurance Technologies partnership will encompass the pre-integration of new business information into Affirm from VisibleChoice. The two solution providers are also leveraging standard XML Acord and Web services for business reasons such as speed to market and cost effectiveness for broker-dealers.
The partnership enables Insurance Technologies to bring solutions to market that consume standard data, enabled through data services interfaces pre-integrated with Blue Frog’s solutions for broker-dealers.
Dan Smith, CEO of Blue Frog, said: We see great synergies between Blue Frog and Insurance Technologies. This powerful partnership will ensure that our common insurance distribution and broker-dealer customers will have an optimal solution with the most timely and accurate annuity product profile information.
Steve Horneman, vice president of marketing at Insurance Technologies, said: We selected Blue Frog Solutions as our first go-to-market partner in adapting to a model of flexibility in how Financial Advisors place new business orders.