Verisk - FAST Platform

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The software is a completely new category and is comprised of 3 key areas built to provide the ultimate in flexibility to support insurers needs today while preparing for the future.

  • FAST Technology Platform – underlying technology platform, built to meet the technical needs of insurers today and tomorrow. Contains a suite of configuration tools and a a SOA/event-driven architecture to drive consistency, rapid implementation, and ultimate in flexibility. It has been called “The AppStore for Insurance” by analysts.
  • FAST Insurance Components – pre-configured insurance components, products and processes that perform the functions typically found in “core systems” from new business to claims (and everything in between including what is found in “best of breed” PAS systems) as well as distribution management.
  • FAST Cloud Services – FaaS (function as a service) for the most common insurance functionality. Hundreds of microservices, both standard and customized (through configuration tools) can be consumed by your own applications to provide the ultimate insurance toolkit in the cloud

Key Features

▪ Scalable technology platform designed for needs of insurers today and long into the future

▪ Product design and configuration tools

▪ Configuration tools for events, rules, calculations, orchestrations, and testing

▪ Event-driven architecture

▪ Microservices built from ground-up

▪ Cloud native / SaaS

▪ FAST 8x - Model driven software automation engine to design and build new components

Key Benefits

▪ Innovation to help their customers (service and products)

▪ Business agility, scale, and ability to pivot

▪ Business expansion (i.e. direct to consumer, new product lines, alternate distribution models)

▪ Drive operational efficiency and make the lives of the users a little bit better

▪ Significantly lower TCO (both within and surrounding the core)

▪ Position for future