A software firm has introduced a program that can help brokers and insurers verify that the variable annuities sold by their producers are suitable for clients.
Lansare Corp, Milwaukee, Wisc., says its VA Compliance Platform is designed for customers who want to ensure that VA sales and exchanges meet Financial Industry Regulatory Authority suitability requirements.
The software gives surveillance analysts at broker-dealers, carriers and other VA distributors the ability to monitor an entire book of business for inappropriate sales activity, Lansare says.
The program also provides post-sale sales trend information.
In other insurance technology news:
- Internet Pipeline Inc., Exton, Pa., is updating the LifePipe program, which gives insurance distributors access to the iPipeline term quote engine and to carrier rates, forms and underwriting guidelines.
The upgrade will give an agent the ability to feed quote information into application forms automatically.
The upgrade also lets carriers put carrier logos on the quote search results page, and it gives distributors the option of asking to be notified about agents’ use of LifePipe.
- The Union Labor Life Insurance Company, New York, is “insourcing” some group life and medical stop loss administration processes using policy administration software from SEG Software L.L.C., Glastonbury, Conn.