To certify annuity information through annuity switchboard
NORTHFIELD, Ill., Feb. 2, 2021 /PRNewswire/ — Beacon Annuity Solutions®, a leading provider of cloud-based annuity software and compliance solutions, today announced American International Group, Inc. (AIG), a global insurance organization, has joined a growing list of Annuity Switchboard® partners.
Annuity Switchboard®, a Beacon Annuity Solutions service, is a fully automated data delivery platform that connects insurance carriers to its ecosystem of distributors and software providers.
Annuity Switchboard’s unique approach to automating the maintenance and distribution of annuity rate and product information ensure that an annuity provider’s distribution partners have access to 100% carrier certified information to support their sales and compliance efforts.
“Throughout the years the annuity industry has become significantly more complex at both the product and regulatory level”, said Jeremy Alexander, CEO Beacon Annuity Solutions. He added “While a source of reliable data is important to an annuity carrier’s product and sales development, it’s critical to their distribution partners day to day operations.”
Annuity Switchboard addresses this complexity through an easy-to-use interface that allows the provider to effectively manage and approve all its annuity offerings for each distributor down to the state level. Over time carriers experience less NIGOs and breakage resulting in reduced acquisition costs.
About American International Group, Inc. (AIG)
American International Group, Inc. (AIG) is a leading global insurance organization. Building on 100 years of experience, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange.
Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIGinsurance www.twitter.com/AIGinsurance | LinkedIn: www.linkedin.com/company/aig. These references with additional information about AIG have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.
About Beacon Annuity Solutions
As a recognized leader in quality annuity data and research tools for the past 22 years, Beacon Annuity Solutions provides over 250,000 industry professionals with the market intelligence needed to support their product, sales, and compliance efforts. Our comprehensive and unsurpassed data warehouse maintains quality up-to-date information for thousands of annuity contracts including fixed, fixed indexed, variable and indexed variable products. Along with our extensive sales data, subscribers are able to keep a finger on the pulse of the annuity industry, allowing for the identification of trends and opportunities in a timely manner.
Founded by a former financial planner, Beacon Annuity Solutions understands the importance of annuities as part of a client’s retirement strategy. In support of that need, Beacon offers a wide variety of tools powered by our comprehensive and unsurpassed product library, to help your firm; minimize compliance risk, support and monitor the sales process, maximize sales, conduct product research, and support product development and pricing efforts
Additional information about Beacon Annuity Switchboard® can be found at www.annuityswitchboard.com.