POMPANO BEACH, Fla. and NEW BRITAIN, Conn., May 18, 2010 (GLOBE NEWSWIRE) -- Blue Frog Solutions, a leading provider of Life & Annuity Order Management, Client Management and Compliance solutions for the insurance and financial sectors, today announced it has formed a strategic partnership with VERTEX Incorporated, the New Britain, Connecticut-based provider of professional services and innovative software to the insurance industry.
Under the terms of the partnership, Blue Frog will transfer its ADMServer Product Profile Administrator (PPA) tool clients to VERTEX. The Blue Frog clients will subsequently use the VERTEX VTXml™ Product Suite. VTXml is an easy-to-use, business-oriented browser-based tool that enables insurance companies and producers to easily build and maintain their annuity and life product profiles in ACORD PPfA/L formats, and easily integrate eCommerce solutions into their existing environment and technology. Additionally, VERTEX leverages its tool with seamless integration into both AFFIRM™ for Life and AFFIRM™ for Annuities. This integration will ease the carrier's product management workload.
In addition, VERTEX will support Blue Frog's ADMConnect™ Tool, which connects carriers and brokers using DTCC's Insurance Processing Services (IPS). In March, Blue Frog and VERTEX entered into our first joint client implementation leveraging the ADMConnect arrangement. This arrangement not only benefited the client with reduced costs, but allowed for a faster integration and lowered adoption risks.
This partnership ensures that Blue Frog will focus its resources and attention on AFFIRM™ compliance and order management platform, the firm's flagship suite of solutions, while providing Blue Frog's PPA clients with uninterrupted support.
"We believe this partnership will prove beneficial to all parties, leading to better solutions and continued exemplary product profile authoring service for Blue Frog's clients," says Dan Smith, Blue Frog's CEO.
"Blue Frog partnered with a firm it can trust to take care of its clients," says Steven Wilson, VERTEX president and CEO. "We look forward to a long and synergistic partnership between the two firms."
About Blue Frog Solutions:
Blue Frog Solutions (www.bluefrogsolutions.com), based in Pompano Beach, Florida, is a leading technology solutions provider that focuses on the life insurance and financial services markets. Blue Frog Solutions 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's products include AFFIRM™ for Life, AFFIRM™ for Annuities, I-Relay™ and PolicyBox™. We simplify selling insurance.
The Blue Frog Solutions logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=707
About VERTEX Incorporated:
Located in New Britain, Connecticut, VERTEX (www.vertexincorporated.com) has been providing business and technical solutions to the financial services industry since 1991. VERTEX focuses on the life insurance and annuity segments and has gained a global reputation for expertise in these specialties.