Magnifact, a leading insurance technology firm, proudly announces the production launch of its real-time AgentVizion™ API Services platform at a Tier 1 carrier. This milestone marks the successful implementation of the Activity Status API, developed in alignment with the Insured Retirement Institute’s (IRI) Digital First for Annuities standards.
Magnifact’s AgentVizion platform empowers insurance carriers, agencies, and agents by delivering analytical business insights across distribution channels and product lines. The company’s innovative solutions enhance agent performance through real-time data, visual analytics, and actionable alerts.
The Activity Status API tracks annuity applications in real-time across various stages—from receipt to policy issuance. This critical data enables producers to address case issues promptly, reducing cycle times and accelerating the sales process.
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“The digital first standards and infrastructure that IRI is creating will foster innovation within the insured retirement industry. Our goal is to help meet workers’ and retirees’ retirement income and protection needs in an efficient digital experience that consumers and financial professionals expect,” said Katherine Dease, Chief Technology and Innovation Officer at IRI. “Adopting these new standards and best practices are vital steps required to move the industry forward in the digital modernization journey.”
“Insurance distribution partners often struggle to obtain timely updates on case statuses,” said Krish V. Krishnan, Founder and CEO of Magnifact. “With the AgentVizion API Services platform, our carrier partner can now offer real-time case visibility for broker-dealers, banks, and insurance marketing organizations, creating a competitive market advantage.”
“The implementation was accomplished using real-time APIs and supportive web services from the Verisk FAST platform within the carrier’s ecosystem,” added Krishnan. “Our success is a testament to collaborative efforts across multiple teams.”
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