NU Online News Service, Aug. 1, 2003, 12:55 p.m. EDT – MKTech Software Ltd., Toronto, says it has developed a system for selling life insurance, critical illness insurance and other forms of insurance through the Web, without the need for medical examinations.

Philadelphia Federal Credit Union, Philadelphia, was the first U.S. financial institution to use the MKTech QuickIssue system, MKTech says.

American Fidelity Assurance Company, Oklahoma City, Okla., is also underwriting an insurance program for a bank that has adopted the QuickIssue system, MKTech says.