Verisk to Acquire FAST to Strengthen Its Data and Analytics Solutions in Life Insurance and Annuities Market
Verisk Analytics, Inc. (VRSK)
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Source: GlobeNewswire
JERSEY CITY, N.J., Dec. 04, 2019 (GLOBE NEWSWIRE) -- Verisk (Nasdaq:VRSK), a leading data analytics provider, announced today it has signed a definitive agreement to acquire FAST, a leading software company for the life insurance and annuity industry. FAST offers a flexible policy administration system that helps insurers accelerate underwriting and claims to enhance the customer experience and support profitable growth. “As customer expectations for a fast and easy insurance experience rapidly increase, life insurers are being pressured to modernize operations across the policy life cycle,” said Neil Spector, president of ISO, a Verisk business. “But transitioning from legacy solutions is a major investment in time and money. The plug-and-play software that FAST has developed lets life insurers make this transition in stages and without a large up-front capital commitment.” FAST, which stands for “Flexible Architecture, Simplified Technology,” provides a SaaS suite of out-of-the-
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