Financial Research Corporationand Blue Frog Solutions, a technology and service provider for the life insurance and annuity industry announced Wednesday that the two firms have entered into a data licensing and distribution agreement.
Through the arrangement, Blue Frog will supply specialized data on variable annuity contracts and riders to FRC for distribution to FRC clients. Blue Frog's data set provides a view of all legally available product component, volume, and funding information for variable annuity products and rider profiles in the United States. FRC will provide the analytical tools for end-users to develop customized research. Additionally, FRC will itself utilize the variable annuity data supplied by Blue Frog to create syndicated research reports and analyses of market trends and product movements. Under the agreement, FRC will also provide custom research to Blue Frog or Blue Frog clients.
"For the first time, industry players and others in the annuity space have a single source for comprehensive and timely data," said Bruce Fador, Financial Research Corporation CEO. "This data provides insurance companies, advisors, and other organizations with market and product information that can be used to conduct comprehensive analyses of the competitive landscape in the variable annuity market."
"As the insurance market evolves to meet an aging demographic, annuity products are gaining increasing traction. By partnering with Blue Frog, FRC will be the leader in the distribution and analysis of annuity information to serve the insurance carrier market as well as those asset managers looking to better understand the variable annuity product horizon," said Fador.
Brad Levine, EVP Partner Relations, Blue Frog Solutions stated, "We are thrilled to partner with FRC and believe that our combined efforts will provide real value to the community that translates in to increased growth for our customers. Timely data is key to making the right decisions and now it will be available at the fingertips of those who need it most."