POMPANO BEACH, Fla., Jan. 27, 2009 (GLOBE NEWSWIRE) -- Blue Frog Solutions, a leading provider of Annuity & Life Order Management and Compliance solutions, today announced that it processed $4.6 billion in annuity premiums through its AFFIRM for Annuities Order Entry System in 2008.
This represents a massive increase in volume; at the end of 2007, Blue Frog had announced that it had reached the $1 billion mark in premiums processed through AFFIRM for Annuities.
"We attribute this stellar increase in new premiums to more widespread adoption of the AFFIRM for Annuities system by distributors, financial advisors, and the requirement that compliance be an integral part of a broker-dealer's process of selling annuities," says Dan Smith, Blue Frog's president and CEO. "We've seen the average premium per annuity increase on Blue Frog's platform, which has earned a reputation for its reliability, consistency and flexibility."
"We continue to be impressed by Blue Frog's AFFIRM for Annuities, a cost-effective and easily-implemented solutions that has enabled us to better manage our annuity business in today's ever changing environment," says Beth Maziad, Vice President, Raymond James.
AFFIRM for Annuities is a compliance and order management system designed to integrate an insurance Carrier's complex product rules with a Distributor's compliance processing system in order to generate transactions that are in-good-order. Compliant annuity applications are subsequently electronically submitted to Carriers for processing after successfully passing all supervisory reviews required by the Distributor.
Visit www.bluefrogsolutions.com for more information about AFFIRM for Annuities and other Blue Frog offerings.
Blue Frog Solutions (www.bluefrogsolutions.com), based in Pompano Beach, Florida, is a leading technology solutions provider and business processing outsourcing (BPO) firm that focuses on the life, annuities and long-term care market. Blue Frog automates both front and back end business processes between carriers and distributors with a focus on compliance to create automated business process efficiencies. Blue Frog's solutions are based on the firm's flagship ADMServer Framework software suite. As one of the largest providers of ACORD-based transactions and DTCC solutions, Blue Frog currently provides ADMServer solutions to more than 60 percent of the top 40 life and annuity companies and many of the largest distributors in the U.S.
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