DST Systems and Blue Frog Solutions to Deliver Annuity Order Entry Through DST Vision
January 19 2010 - 11:36AM
PR Newswire (US)
Integrated applications to support new contract establishment
KANSAS CITY, Mo. and POMPANO BEACH, Fla., Jan. 19
/PRNewswire-FirstCall/ -- DST Systems and Blue Frog Solutions have
collaborated to provide an annuity order management compliance
solution to independent intermediaries through DST VisionĀ®, DST's
industry-leading online account management solution. DST Vision is
a widely used account management Web site providing financial
intermediaries access to customer account information from more
than 290 mutual fund, REIT and variable annuity companies. Blue
Frog's AFFIRM(TM) for Annuities solution integrates an insurance
carrier's complex product rules with a distributor's compliance
processing to assist intermediaries in generating transactions that
are in good order. Compliant applications are then electronically
submitted to carriers for processing after successfully passing
supervisory reviews required by the distributor. The resulting
offering, AFFIRM for DST Vision, is designed to deliver efficiency,
consistency, suitability, compliance and supervision capabilities
currently available to larger firms in a package tailored to the
needs of the independent broker/dealer community. Available at no
cost to the intermediary, AFFIRM for Vision offers an easy-to-use
point-of-sale system that enables financial advisors to create an
annuity order. Complete order validation helps to ensure an
efficient, consistent experience for representatives and compliance
officers, and to improve the rate of transactions that are in good
order. Leveraging a carrier's existing DTCC interface, AFFIRM for
DST Vision is designed to validate each annuity order against a
carrier's annuity product data to confirm it is consistent with the
carrier's requirements. It also is designed to automatically
produce carrier forms and deliver the complete order to the home
office for review and approval prior to submission to the carrier.
"By supporting compliance processing for annuity order management,
Vision makes it easier for me to sell these products alongside my
other investment offerings," says Aaron Spradlin, vice president of
information technology, United Planners Financial Services, an
independent broker/dealer. "This solution addresses the lack of
order entry automation capabilities available to the independent
broker/dealer community." "AFFIRM for DST Vision meets a very real
need in the annuity industry, and we're pleased to go to market
with this joint solution," says Dan Smith, CEO, Blue Frog
Solutions. "With this collaboration, DST further asserts its
commitment to providing value-added solutions that serve both
product providers and their distribution partners," says Kyle
Mallot, DST vice president in charge of Vision. "We are proud to
offer this next level of support to our variable annuity clients
and the intermediaries that sell their products." DST Vision and
Blue Frog appear together at the OneVoice 2010: FSI Broker-Dealer
Conference in New Orleans next week. About Blue Frog Solutions:
Blue Frog Solutions, (http://www.bluefrogsolutions.com/), based in
Pompano Beach, Florida, is a leading technology solutions provider
that focuses on the life, annuities and long-term care market. A
financial service insurance processing firm, Blue Frog offers
solutions that facilitate more insurance transactions that are
compliant and In Good Order, helping drive increased business. To
date more than $16 billion in deposits have been processed through
Blue Frog's AFFIRM platform. Blue Frog simplifies the business of
selling insurance. About DST Systems: DST Systems, Inc. provides
sophisticated information processing and computer software products
and services to support the mutual fund, investment management,
insurance and healthcare industries. In addition to technology
products and services, DST provides integrated print and electronic
statement and billing output solutions through a wholly owned
subsidiary. DST's world-class data centers provide technology
infrastructure support for mutual fund companies, healthcare
providers, banks, mortgage bankers and insurance companies around
the globe. DST is headquartered in Kansas City, Mo., and is a
publicly traded company on the New York Stock Exchange. The
information and comments above may include forward-looking
statements respecting DST and its businesses. Such information and
comments are based on DST's views as of today, and actual actions
or results could differ. There could be a number of factors
affecting future actions or results, including those set forth in
DST's latest periodic financial report (Form 10-K or 10-Q) filed
with the Securities and Exchange Commission. All such factors
should be considered in evaluating any forward-looking comment. The
Company will not update any forward-looking statements in this
press release to reflect future events. DATASOURCE: DST Systems,
Inc. CONTACT: Brad Levine, EVP, Sales and Marketing/Founder of Blue
Frog Solutions, +1-954-788-0700; or Jill Patton, Media Relations of
DST Systems, Inc., +1-816-843-9087 Web Site:
http://www.bluefrogsolutions.com/
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