NEW YORK - Allfinanz Inc., an e-commerce software company serving the financial industry, has named Mark Schwarzmann chief operating officer.

Mr. Schwarzmann was a senior vice president GE Financial Assurance, leading insurance and investment initiatives in banks and brokerage firms.

Allfinanz said it continues to seek out banks willing to issue life insurance products through its system. The system can issue a temporary life insurance policy at a bank branch within 30 minutes, the company says. A permanent policy is issued after further review.

Life insurance products from Travelers Life and Annuity and Reinsurance Group of America are available through Allfinanz. Property and casualty products are not, though the company said it expects to offer some such lines by yearend.

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