POMPANO BEACH, Fla., Jan. 20, 2009 (GLOBE NEWSWIRE) -- Blue Frog Solutions, a leading provider of Life & Annuity Order Management and Compliance Solutions for the life insurance and annuities industry, and MML Investors Services, Inc. (MMLISI), the investment arm of Mass Mutual, headquartered in Springfield, Mass. have formed a strategic partnership.
Under the terms of the deal, MMLISI will use Blue Frog's Affirm(tm) for Annuities, a Compliance and Order Management solution designed to integrate a carrier's complex product rules with a distributor's compliance processing to generate transactions that are "in good order." Compliant annuity applications are then electronically submitted to carriers for processing via the DTCC after successfully passing all supervisory reviews required by the distributor.
Blue Frog's Affirm for Annuities technology will automate MMLISI's annuity process and by using straight-through processing, will automate the firm's compliance and approval management processes.
"We are delighted to be able to help MMLISI see its volumes grow, enable the company to push products to their financial advisors and give advisors and customers an improved experience," says Dan Smith, Blue Frog's CEO.
Bill Monroe, VP Sales & Marketing, says that his firm selected Blue Frog for its quality and reputation in the industry. "We did a thorough review of the marketplace and concluded that Blue Frog has the best technology to suit our business needs," Monroe explains. "We're thrilled to partner with Blue Frog and with the help of Blue Frog's technology, we are looking forward to seeing great process improvements."
About Blue Frog Solutions: (www.bluefrogsolutions.com)
Blue Frog Solutions, based in Pompano Beach, Florida, is a leading technology solutions provider and business processing outsourcing (BPO) firm that focuses on the life, annuities and long-term care market. Blue Frog automates both front and back end business processes between carriers and distributors with a focus on compliance to create automated business process efficiencies. Blue Frog's solutions are based on the firm's flagship ADMServer Framework software suite. As one of the largest providers of ACORD-based transactions and DTCC solutions, Blue Frog currently provides ADMServer solutions to more than 60 percent of the top 40 life and annuity companies and many of the largest distributors in the U.S.
The Blue Frog Solutions logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=707
About MML Investors Services, Inc.: (www.massmutual.com/mmlisi/)
MML Investors Services, Inc.(r), founded in 1981, is a broker-dealer and registered investment advisor that helps clients achieve their financial goals by offering a wide array of quality investment products and services including mutual funds, variable annuities and variable life insurance, brokerage accounts, portfolio management services, unit investment trusts, and direct participation programs. MML Investors Services, Inc. (MMLISI), in its capacity as a registered broker dealer with the Financial Industry Regulatory Authority (FINRA) (www.finra.org) and member SIPC (www.sipc.org), offers a wide range of securities products and services. In addition, MMLISI is registered with the Securities and Exchange Commission (SEC) and offers investment advisory services in its capacity as a registered investment advisor.