Day Trading Solutions

VARDS Adds Online Prospectus Lookup to Product Line

Breaks 60 Day Barrier, Setting New Record for Data Timeliness

HERNDON, Va.--(BUSINESS WIRE)--July 13, 2004--Finetre Corporation today announced the expansion of its industry standard VARDS product line by adding online prospectus access. The company also noted that it accomplished the update of its entire prospectus database in record time this year, completing the work in less than 60 days for all annuity products currently available for sale. The update includes current feature, expense, and sub account information based on May 1, 2004 prospectuses. The approximately 150 variable annuities comprising 95% of all sales were updated by May 31, with all 509 open contracts completely updated as of July 1, including the addition of all May 1 electronic prospectuses to VARDS Prospectus, as the new product is known.
"Our clients have expressed great demand for online access to prospectus documents in order to streamline their research efforts," noted Frank O'Connor, Director of VARDS Product Development. "Significant upgrades to VARDS data collection technology combined with extraordinary efforts of our data collection team and insurance company partners were the key factors that contributed to the new record for timeliness."

To promote the availability of the new VARDS Prospectus product, the company plans to offer free access to the new product for a 30 day period beginning on July 15. After the trial period, customers will be invited to subscribe for an additional annual fee.

About Finetre Corporation

Founded in 1997, Finetre Corporation is a Herndon, VA-based software technology and research data firm. Finetre, formerly known as AnnuityNet/VARDS, is best known for having pioneered the Web-based approach to powering online transactions in the annuity market space with an Internet platform that connects all industry constituencies--carriers and manufacturers, distributors and point of sale representatives--into a seamless, secure and information-rich process. Finetre's Web technology currently processes over 30,000 transactions per month over the Internet. The VARDS division of Finetre features the robust research capabilities of the entire VARDS family of products, including VARDS Online and the VARDS Greenwald Strategy Service. VARDS is the top sales tracking and product information source for variable annuity data, providing industry standard research tools to companies around the globe. VARDS is the most widely quoted and referenced analytical source available today and is in use by virtually every insurance company on the market. Investors include: GE Financial Assurance/GE Equity, Lincoln Financial Group, Conning Capital Partners, The Phoenix Companies, Wachovia Insurance Agency, Inc., Ohio National Financial Services, FBR Financial Services Partners, SunLife Financial, and Bank One. The company's Web site address is www.finetre.com.

Contacts


Finetre Corporation, Herndon
Steve Dunlap, 703-234-0160

[ Comment, Edit or Article Submission ]