FaithLife Financial Implements ProComp Consulting's cloud-based New Business and Inforce Illustration applications: ProCloud

TORONTO, Nov. 30, 2021 (GLOBE NEWSWIRE) -- ProComp Consulting, provider of cloud-based insurance illustration solutions, today announced that FaithLife Financial has released ProCloud, a cloud-based New Business and Inforce Illustration system, to its advisors, brokers and Client Services personnel. Committed to growth and providing its customers best-in-class products and services, FaithLife Financial is moving forward with a digital toolkit that advisors can easily access across multiple devices and platforms, making it simpler to present insurance solutions to clients.

"Increasing our growth opportunities required a strategic review of our organizations' distribution processes and enabling technologies. We realized that we needed to empower our advisors and brokers with a modern experience, including new digital tools to serve customers more effectively and efficiently. We are delighted to have gone live with this key component of our strategy: ProCloud, ProComp Consulting's New Business and Inforce Illustration system. Now FaithLife Financial agents and brokers are able to present new insurance solutions to their prospective clients and provide current and future projections for in-force policies during client reviews. This cloud-based solution enables easy onboarding, single sign-on, device independence, and effortless updates."

? Glenn Hymers, President & CEO FaithLife Financial

"ProComp Consulting is delighted to be a strong partner to FaithLife Financial. ProCloud will support the organization's growth and service goals. We are proud to be able to provide a leading insurance software solution on an SME budget."

? Joe Alaimo, President & CEO ProComp Consulting

About FaithLife Financial:

FaithLife Financial is a member-based organization that provides insurance and investment solutions to more than 33,000 members across Canada. The company manages assets of $396 million, and has $3.2 billion of in-force insurance as of December 31, 2020.

About ProComp Consulting:

ProComp Consulting combines actuarial and IT expertise to provide insurance providers with the products or people to meet their insurance product needs. ProComp combines business intelligence and business rules with calculation and report engines so that their suite of products are ready to use at head office, by insurance agents or by insurance customers. ProComp offers new and in-force illustration, e-applications, insurance concept, and financial needs analysis calculator software driving from a common calculation engine, designed to be cloud-native.