American Family Life Insurance Co., a provider of auto, homeowners, life, business and farm/ranch insurance, has selected FAST Insurance Components as its new business and policy administration system.

FAST – Flexible Architecture, Simplified Technology – was founded by the former leaders of NaviSys and will be initially deployed by American Family for a new life insurance product.

The insurer assessed FAST and other life policy administration service (PAS) offerings in search of a combination of life insurance functionality and configurability. During the course of the selection process, American Family said it put great value on having a flexible technical architecture.

“Increasingly, we see leading carriers investing in modern, configurable PAS platforms to enable innovation,” commented Tom Benton, a principal in the insurance practice at Novarica. “Companies like American Family that make the investments now should have a leg up on their competition in the future.”

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