FAST, a leading software company for the life insurance and annuity industry, announced today that Amica Life Insurance Company ("Amica") is live with FAST for policy administration of all its currently sold Term Life and Whole Life products. The system is being hosted by FAST, making Amica the third new customer in the last four months to deploy an initial production release on the cloud with FAST. This initial release has set the foundation for Amica to convert and decommission its existing legacy system, while also establishing the capabilities to quickly launch new products and lines of business.
"FAST's partnership has been instrumental in establishing the agile processes required to complete this type of transformation in the time frame that we did. Along with the quick stand-up and ease of use of the system, we're excited by the features and functionality that a modern PAS affords our customers and employees," stated Andy Mudra, Vice President, Amica Life. "The straightforward ability to integrate across our technology and partnership ecosystems opens many doors for the future of Amica Life.
"Amica has committed to modernizing its insurance ecosystem to deliver the best customer experience for new and existing policyholders," said Tom Famularo, CEO of FAST. "It is great to see a key milestone being met on Amica's digital transformation journey, and we look forward to continuing our successful partnership through full policy conversion."
About Amica Life
Amica Life Insurance Company, a wholly owned subsidiary of Amica Mutual Insurance Company, was founded in 1969. Amica Life, based in Lincoln, Rhode Island, offers life insurance and retirement products directly to customers. Through its products and services, Amica Life aims to be the most trusted and innovative service provider by securing and simplifying the most important aspects of its customers' lives. The company has also earned a rating of A+ (Superior) from AM Best, a leading insurance rating agency and the nation's authority on insurance company financial stability. For more information, visit AmicaLifeLessons.com
FAST, which stands for "Flexible Architecture, Simplified Technology," is a privately-held company located in Iselin, New Jersey. FAST focuses on solving the challenges our financial services and insurance clients face as they seek to modernize their systems environments or completely replace legacy systems. Visit: www.fasttechnology.com.
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