Finetre Corporation, a provider of e-commerce technologysolutions for the annuity industry, has agreed to develop an onlinefixed annuity sales platform jointly with Beacon Research, a sourceof fixed annuity data and a developer of related Web-based searchand reporting software tools. The new platform will combine BeaconResearch's AnnuityNexus database with Finetre's AnnuityNet Platformto improve research capability and client suitability to the fixedannuity sales process.

Scheduled for release in 2006, the new platform will enablesalespeople to select appropriate fixed annuity products for theirclients and then transact the sale electronically. It will includefront-end software to search comprehensive profiles of adistributor's fixed annuity product line, allowing thespecification of basic or detailed selection criteria. Afterproduct selection, the system will produce a package that includesa proposal summarizing all criteria. Data will be transferred tothe application and any required forms. Rules will be vettedagainst field-entered data to simplify the process for the producerand minimize mistakes in transactions. The platform will facilitateproper supervision of every fixed annuity sale by enablingcompliance and suitability monitoring during the transaction andproducing related reports. Suitable transactions will be submittedto the carrier electronically.

Both insurance carriers and distributors have expressed interestin the sales platform because it can reduce errors,compliance-related liability, and cost while speeding up theprocessing of applications and commissions.