Colorado-based point-of-sale illustration software provider Insurance Technologies has claimed that they have successfully deployed ForeSight 5.0 for Sagicor Life Insurance Company.

ForeSight 5.0 is Insurance Technologies' flagship point of sale and illustration system for Life, Annuities, Critical Illness, Disability Income and Long-Term Care. ForeSight is claimed to be the insurance industry's most widely used insurance sales illustration system.

According to officials, Sagicor has been using ForeSight for the last few years and now they chose to upgrade after realizing version 5.0's enhanced capabilities, which includes smartPhone/PDA, CRM, FNA, and a summary values section. Another market distinguishing feature of ForeSight is its use of Microsoft (News - Alert) .NET 3.5.

The new ForeSight release incorporates the DataSight feature that enables carriers to change product rates, product state approvals, import marketing material and forms, maintain user permissions, upload product rate files and clone products. The new release also incorporates features such as mortgage cancellation, sales concept storyboard presentations, product comparisons, in-force/reproposal illustration functionality and electronic applications/fill able forms.

Senior vice president of operations for Sagicor Life, Michael Stricker has stated that Insurance Technologies and the ForeSight 5.0 single system solutions have provided Sagicor with the tools that their producers need to offer comprehensive information to their clients which will allow them to make the financial decisions for their future. Sagicor expects the ForeSight 5.0 to be a great investment with a strong ROI over time.

Stricker has remarked that the introduction of the 'Summary Values' section enabled the producers and clients to view how each parameter they modify alters the premium needed or death benefit available. The capabilities extended to their field agents have been greatly expanded allowing them to create very specific funding patterns, death benefit changes, illustrated rates and rider selections quickly and easily. ForeSight 5.0 system significantly reduces the speed at which the values are calculated and the speed at which the actual report is rendered into PDF format.

Insurance Technologies' chief technology officer, David Fenimore added that they are eager to help grow Sagicor's life and annuity business and support their sales efforts with illustrations that are simple to generate and make a tangible impact through the advanced technology of ForeSight 5.0.  

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