Fiserv Releases Account Aggregation Software

Brookfield, Wis.-based Fiserv Inc. announced today that it will offer the Front View account aggregation solution to the insurance industry.

With Fiserv Front View, insurance carriers can offer customers a secured, consolidated view of their personal assets and liabilities, including bank and credit card balances, frequent flyer miles, phone and utility bills, investment funds, mortgage balances, and much more.

The customer benefits by no longer having to navigate to multiple Web sites and manage multiple user IDs and passwords to gain this information. The insurance carrier benefits from enhanced client relationships, and added exposure of the carrier’s Web site as customers make repeat visits to view their personal aggregated information. The insurance carrier also benefits in having customer-approved access to valuable information about the assets, liabilities and financial behavior of their customers.

“Banks have been offering account aggregation to their customers for years as a strategy to strengthen customer relationships,” said Tony Perdichezzi, President of the Fiserv Administrative Solutions Division. “What’s really appealing to insurers is the intelligence it offers them to truly know their customers, understand their financial habits, and get a more accurate picture of their insurance needs. As insurance companies move more into financial planning and wealth management products, Front View will become an important part of how they stay in touch with their customers and manage their portfolios.”

Fiserv Front View also integrates with an insurance carrier’s administration system to include consolidated policy information and online bill presentment for its customers, and sales productivity and commission totals for its sales force.