Category: Annuity

Retirement product investment qualified and non-qualified with an insurance wrapper.

Management Research Services Unites With American Enterprise Group

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MRS – AEG Partnership Press Release

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American Enterprise Group, Inc. (AEG) announced today it will be partnering with Management Research Services, Inc. (MRS), a global leader in insurance automation and technology solutions, announced today the release of a new electronic application system for life and health insurance policies.  The new technology will allow insurance professional to complete and submit application for straight through processing and instant policyholder decisioning. The platform will allow for real-time processing 100% in-good-order applications. This partnership will empower the divisions of AEG to service and offer real time policy issuance to our distribution and policyholders.

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The partnership with MRS is a part of an ongoing, companywide focus on innovation within AEG, and is a result of an earlier interaction with American Enterprise Ventures, LLC, which is a venture capital company backed by AEG that focuses on investments in early-stage startups in the insurance, finance, and healthcare industries.

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“Representatives of American Enterprise Ventures discovered MRS at an innovation summit and were impressed with the new technologies the company offered,” explained Julie Larson, Chief Technology and Innovation Officer. “We were looking for a new rules and application processing platform to better meet our growing needs, so the American Enterprise Ventures team brought the potential solution to company leaders for further vetting. It was a great find for us.”  Brad Darnell, MRS Chief Technology Officer, says “At MRS we look for partners, not clients, and we could not have asked for a better one than AEG. Right from the beginning, we have developed a strong relationship with great collaboration between our organizations. This teamwork has led us to a multi-phased product rollout strategy in a short amount of time. Our approach not only supports AEG’s digital transformation goals but is also driving exciting innovation to our platform. We are grateful every day for the partnership that has been developed with this excellent company.”  GG Oncel, MRS Head of Customer Strategy & Growth, says “MRS is proud to have been chosen as the exclusive partner of AEG for its digital transformation efforts across product lines and distribution channels.  The teamwork between the two companies has been excellent resulting in an implementation process that has moved forward with great speed and efficiency.  The MRS No-Code platform has proven again that it can support highly complex application processes at any level of volume needed.  MRS places significant value in its partnership with AEG and is excited to showcase it to show how we can support the larger tier carriers in the US market and beyond.”

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About American Enterprise Group, Inc.

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American Enterprise Group, Inc., has multiple insurance company subsidiaries under the American Republic®, Great Western Insurance Company (GWIC®), and Medico® brands. These companies offer life and health insurance product solutions to help people secure their financial futures through various distribution channels and are licensed in 49 states, plus the District of Columbia. American Enterprise is based in Des Moines, Iowa, and employs approximately 450 people in its Des Moines, Iowa; Omaha, Nebraska; and Ogden, Utah, offices.

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About American Enterprise Ventures, LLC

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American Enterprise Ventures, LLC is a venture capital company backed by American Enterprise Group, Inc. American Enterprise Ventures’ investment strategy focuses on early-stage startups in the insurance, finance, and healthcare industries. With initial investments of up to $1 million, American Enterprise Ventures’ funds are typically made in seed to Series A round startups. For more information visit www.americanenterprise.com/aeventures.

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About MRS

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At MRS, we help clients transform change into a competitive advantage.  MRS provides a high-end technology product to life, health, and annuity insurance industries.  In today’s world where “the only thing constant is change,” that original vision has been expanded to include more services and technology capabilities designed to help clients adapt quickly and in a cost-effective way.  MRS has invested heavily in our technology platform to create a foundation for the next revolution in life insurance.  MRS’s No-Code platform gives you all the tools needed to build a highly secure, complex application that efficiently collects voice and electronic data without writing a single line of code.  The result is a vastly reduced time to market with no initial or ongoing maintenance costs making the total cost of ownership substantially lower than status quo solutions.  Our platform’s ability to support powerful reflexive logic makes the MRS rules engine extremely efficient in collecting all information needed to make a point-of-sale decision.  The capabilities and flexibility of our platform allow customers to use the MRS technology platform as their single solution or as a tool to support and enhance current technology solutions they already have in place.  For more info on MRS product e-Apps, please email GG Oncel at gg.oncel@mrsreps.com or visit the website at www.managementresearchservices.com.

Ensight™ Surges Past One Million Digital Life Sales Presentations

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The company’s cloud-based sales experience platform is now servicing over 250,000 financial professionals across the U.S.

 

SAN DIEGO, CA, March 17, 2021 — Ensight™, the market leading life, long-term care (LTC) and annuity digital sales acceleration platform for insurance carriers, distributors and financial professionals, today announced that over one million digital sales presentations have been generated on its insurtech platform. Ensight’s growth rate also continues to compound, driven by an increase in remote selling, the hybrid wholesaling transformation shift and emergence of the “digital agent” model. Today the platform works with over 250,000 financial professionals.

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“Every financial services sales experience today is digital, interactive, visual and easy to understand – whether that is the leading financial planning software used by advisors, or the investment management and 401K portals now experienced by the consumer. Life, annuities and long-term care are the only remaining financial product areas out of step with today’s digital experience expectations,” said Bill Unrue, CEO, Ensight.

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The COVID-19 pandemic has acted as a digital catalyst over the past year, as life and annuity insurance carriers and distributors have had to adapt to a virtual (remote) sales operation. This business response is also now accelerating a permanent transformation to a “hybrid wholesaling” and “digital agent” sales and service model. Wholesaling transformation, in particular, offers the sector an opportunity to achieve travel and entertainment (T&E) budgetary savings, while driving improved wholesaler productivity, more flexible advisor servicing, and better product marketing through digital education.

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The Ensight sales acceleration platform was launched in 2017 to help modernize and transform the sales experience for life and annuity insurance carriers, distributors, financial professionals and consumers. Ensight simplifies the complexity of the permanent life insurance (GUL, Whole, UL / IUL, and VUL), LTC and annuity sales engagement into an intuitive, consumer-friendly digital experience. The platform leverages data visualization and rich content to create a modern interactive sales discussion, which has underpinned the rapid shift to virtual (remote) selling during the COVID-19 pandemic. Over 250,000 financial professionals, including insurance agents and advisors, now use Ensight to better explain how a permanent life insurance or annuity product works and interactively demonstrate product features, such as cash value accumulation, rates of return and policy charges.

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“The life and annuity sales model is at a once-in-a-generation inflection point. From the internal sales desk and wholesaler-advisor channel to the client’s point of sale experience, the entire value chain of the traditional sales model is being structurally reorganized and digitally redefined,” said Nathan Jacobson, Executive Vice President (EVP), Life Insurance, Simplicity Financial Group. “Ensight is the clear market leader today, enabling modern, interactive sales presentations that simplify the wholesaler-advisor-client discussion of complex permanent life, LTC and annuity products.”

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To learn more about Ensight and its digital sales acceleration platform, visit www.ensightcloud.com.

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About Ensight™
Ensight™ is the leading cloud-based insurance sales acceleration platform for more than 500 Life and Annuity distributors, thousands of financial professionals, as well as many of the largest North American insurance carriers. Headquartered in San Diego, California, Ensight helps drive sales growth and productivity, while addressing the entire sales lifecycle experience – from prospect to policyholder, new business to inforce.

 

Insurance Technologies Acquires IXN Press Release

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Providing the Most Robust End-to-End Sales Capabilities and Experiences for the Life Insurance Marketplace

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April 20, 2021
Colorado Springs, CO

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COLORADO SPRINGS, CO, April 20, 2021 – Insurance Technologies, LLC, a leading provider of sales automation solutions for the life and annuities insurance industries, announces the acquisition of IXN, the leading provider of digital data exchange solutions for the life insurance industry. The combined company will fully integrate both companies’ proven systems to offer the most comprehensive and efficient single platform capabilities and experience for sales automation in the life and annuities insurance industries.

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The insurance industry is in the midst of a major digital transformation, demanding more and more from market participants to create specialized software to modernize the overall sales and operations process. To operate in today’s competitive distribution world, advisors, agents, distributor firms, and carriers need a modern, simple, cohesive, one-stop digital shop to manage all aspects of the sales process.

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Insurance Technologies identified IXN as a dynamic disrupter in the life insurance ecosystem, as proven by their widely adopted cross-platform digital solutions and recent launch of the LifeDX solution, an open API data exchange solution. IXN pioneered the concept of “putting an Agents’ business in their pocket” by launching and becoming the industry leader for mobile applications within the life insurance space. IXN also developed a multi-carrier sales automation solution that is becoming the platform of choice for life insurance distributors and carriers.

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“As the insurance industry continues to innovate, we must find ways to deliver increasingly specialized yet integrated solutions for advisors, agents, distribution partners, and carriers,” said David Fenimore, Chief Executive Officer of Insurance Technologies. “The addition of IXN’s industry-leading suite of products for life insurance rapidly advances our FireLight® product roadmap for life insurance, providing the full life ecosystem in a single, easy-to-use application. This integrated solution further enhances our life insurance functionality and supports our client base in an area where we already see tremendous growth. We continue to build on our promise to offer a single platform as a service solution that supports the entire life and annuity insurance sales lifecycle and are committed to being the best possible long-term technology partner for our clients.”

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“We are excited to combine IXN’s innovative technological tools with Insurance Technologies’ proven solutions,” said Kevin Pohmer, Chief Executive Officer of IXN. “Both of our customer bases and the entire life insurance industry will benefit from our increased ability to deliver innovative, value-added solutions that improve client success and operational efficiency across the entire value chain.”

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By combining their proven technology solutions, Insurance Technologies FireLight® and IXN are creating the most robust end-to-end platforms for the life insurance marketplace. The addition of IXN’s digital sales automation and data exchange solutions is expected to make Insurance Technologies software solutions even more attractive to clients and reinforce the company’s strong track record for product and customer service. Together, Insurance Technologies and IXN will be a clear leader in innovation in the insurance technology market.

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Terms of the transaction were not disclosed.

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About IXN
IXN is a leading provider of cross-platform software solutions to the insurance industry helping make the process of distributing and processing life insurance simple and easy. IXN pioneered the concept of “putting an Agents’ business in their pocket” by launching and becoming the industry leader of mobile applications within the life insurance space. Through our SaaS-based sales automation solutions, we assist carriers, agents, BGAs, advisors, and financial institutions better serve their consumers. IXN is headquartered in Lehi, Utah.

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About Insurance Technologies 
Insurance Technologies provides innovative sales and regulatory automation solutions to the insurance industry. Offering a suite of integrated sales solutions, from pre-sale functions to quoting and illustrations through e-application and e-delivery to post-sale services, Insurance Technologies provides carriers and distributors the sales capabilities and tools to create automated and cohesive sales experiences for their advisors and clients across the life and annuities insurance industries. The unique architecture and flexibility of its solutions deliver front and back-office configurability and usability to support multiple business strategies, encourage cross-channel growth and evolve with regulatory changes.

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Management Research Services Announces e-App For Annuity Policies

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Management Research Services Announces e-App For Annuity Policies

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MRS Introduces e-App for Annuity Policies

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Quicker, easier application process nets client success

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MILWAUKEE, Mar. 3, 2021 — MRS, a global leader in insurance automation and technology solutions, announced today the release of a new electronic application (E-App) system for annuity policies. The new technology will allow financial and insurance professionals to complete and submit annuity applications online, effectively improving turnaround time for processing and final delivery.

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“We’re proud to bring new MRS technology to hardworking financial and insurance professionals,” said Tim Dineen, Chief Executive Officer at MRS. “We’re dedicated to creating streamlined applications that make doing business easier while helping our clients deliver policies to their customers even quicker.”

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The annuity market is substantial and provides a significant amount of revenue for carriers. An annuity policy helps the buyer manage their income in retirement, and other than pensions, annuities are the only products that provide guaranteed lifetime income. The market size of the life insurance and annuities industry is $732.5B, measured by revenue, for 2021. The industry is trending toward a more affluent and older market as it emphasizes the use of life insurance and annuities as retirement, estate planning, and tax-preferred products.

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Given uncertainties with the pandemic and overall market conditions for insurance carriers and the end-customer, MRS has scaled its efforts to support insurance carrier’s digital transformation efforts. The new annuity E-App is an easily-configurable, no-code, cost-effective solution to sell and manage annuity policies.

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Developed for an existing client with a complex distribution matrix, where multiple signatures are collected from end-customer, IMO, law firm, POA, owner, and payor, MRS was able to deliver a solution that has helped increase sales, streamline processes, and improve overall customer experiences. Now, with an easy sign-on and integration of electronic signatures, the client can fulfill an annuity policy in a few days versus months of starts-and-stops and back-and-forth communications with the customer.

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With MRS, the primary benefits for insurers choosing to implement the Annuity E-App system include:

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● 100% in-good-order applications

● Error rate removed

● Applications processed in 15 min vs. days

● Auto-populating State Beneficiary legal clauses

● e-Signature collection up to 8 individuals

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“Our process is the same no matter the product type. Developing an annuity application was a natural extension of the robust ecosystem of E-Apps we already have in the market today,” says Steve Delonge, Customer Success Director at MRS. “With our proficiency for taking applicants from the questionnaire to the contract, MRS is well-positioned to increase offerings to more distribution channels and add more annuity E-App products that can quickly issue the annuity policy and ultimately help quicken payment of the commissions.”

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For more info on our the MRS Annuity E-App call (800)-726-3643 or email sales@mrsreps.com

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At MRS, we help clients transform change into a competitive advantage. MRS provides a high-end technology product to the life, health, and annuity insurance industries. In today’s world where “the only thing constant is change,” that original vision has been expanded to include more services and technology capabilities designed to help clients adapt quickly and in a cost-effective way. MRS has invested heavily in our technology platform to create a foundation for the next revolution in life insurance. MRS’s No-Code platform gives you all the tools needed to build a highly secure, complex application that efficiently collects voice and electronic data without writing a single line of code. The result is a vastly reduced time to market with no initial or ongoing maintenance costs making the total cost of ownership substantially lower than status quo solutions. Our platform’s ability to support powerful reflexive logic makes the MRS rules engine extremely efficient in collecting all information needed to make a point-of-sale decision. The capabilities and flexibility of our platform allow customers to use the MRS technology platform as their single solution or as a tool to support and enhance current technology solutions they already have in place. Please visit us at www.managementresearchservices.com or contact us by email at sales@mrsreps.com to learn more.

Explosive Shift to Hybrid Wholesaling & Agent Sales is Taking-Off

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The Life & Annuity “Pre-Covid” Sales Model Will Not Return

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This week’s LIMRA Distribution Conference only confirmed that the rapidly emerging Life and Annuity sales operation is going “hybrid”.

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If you missed the conference, you can read three wonderful articles debating the “Hybrid” trend in Insurance News Net, with reference to some fantastic research by LIMRA:

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– “Virtual Selling Might Be Here To Stay”

– “Hybrid Is The Future For Advisors, Says LIMRA Research”

– “Will Agents Ever Return To The Office”

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Of course, given our (Ensight) discussions with L&A senior executive sales leadership and digital transformation leaders over the past 18 months, this comes as no surprise.

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Indeed, I wrote about the coming transformation of the traditional life and annuity wholesaling model last year. Whether you call it “eWholesaling” or “Hybrid Wholesaling”, it makes no difference, digital sales enablement for wholesalers is the new English Longbow, changing the nature of ‘engagement’ in the sector.

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And, notably, the digital hybridization of the advisor-client discussion has already been underway for several years. It’s worth noting that the majority of financial advisors today already use some form of virtual meeting (Zoom; WebEx; Go To Meeting) in the client engagement repertoire.

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Whether you are a L&A carrier or distributor, if you are not putting a hybrid wholesaling and agent digital model into practice today – you simply won’t be able to catch-up tomorrow.

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But let’s also take a look at 7 additional dynamics at play in the panorama of market forces which are driving “The Shift”:

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1. Millennial “Digital Tools” Expectations – As a Gen Xer, it still shocks me that millennials now span up to 40 years old. As the first purely digital generation, millennial wholesalers, advisors and agents will expect digital tools to support a hybrid sales engagement model, if they are going to work for your company or sell your products.

2. The New Consumer Digital Expectation Bar – The client service model is in rapid transition. Informed by Vanguard, Robo-Advisors, new trading apps (Robinhood), and every VC-backed FinTech firm driving a simplified hybrid digital experience, the mandate now is to engage with clients both digitally and in a personal manner.

3. The “T&E” Transition – The old “Travel and Entertainment” cost centre is ripe for a rebranding exercise. I like to call it – “Technology & Education”. Given emerging Best Interest (BI) regulation and GenX / millennial advisor preferences, spending millions on travel and entertainment – while underfunding digital – is a recipe for disaster.

4. Growing Eyeballs on Sales Effectiveness – Every other sector in the modern economy focuses on sales effectiveness (funnel yield, productivity, efficiency and customer satisfaction) through a data-rich, digital approach. Carriers need to move fast to enable, empower and measure both wholesaling teams and agent channels. Winners and losers will be defined on this battleground.

5. The Rise of “Platform Distribution” – Today, digital “platforms” are the structure of the economy. And every platform is hybrid in nature. When was the last time you weren’t prompted to “chat” in your banking app. The emerging Life and Annuity distribution platforms are already driving the scale adoption of hybrid virtual selling. Many carrier wholesaling teams are at risk of falling far behind the norm.

6. The New “Hybrid” Workplace – The work-life balance trend has been underway for a decade now. And COVID-19 will permanently alter the vision and model of the “corporate office”. The new corporate office is “virtual”; and, the new internal sales desk wholesaler and captive agent is “Zoom-empowered”.

7. The New Power of Talent – As the Life and Annuity sector moves forward into the technology “Arms Race”, talent will define the winners and losers. And talent can demand how and where it works in today’s economy. Today’s emerging titans, upending Fortune 500 firms and sectors, at their heart, are built on talent alone. If you want to win in the life and annuity distribution game, recruit, retain and empower a hybrid top-talent sales force with empowering digital tools.

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We are now entering uncharted waters for the Life and Annuity sector. The “arms race” has begun. And the nature of this arms race is that the speed of digital change and competition will only increase with every passing year. It is Moore’s Law, now applied to the Life & Annuity sector.

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Whether you are a Life & Annuity carrier or distributor, if you are not putting a hybrid sales and service digital model into practice today – you simply won’t be able to catch-up tomorrow.

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Sail with the wind, not against it.

SUREIFY GROWS C-SUITE WITH APPOINTMENT OF NEW PRESIDENT

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San-José-based tech company names Dan Gordon to lead operations

By Lori Zinaich | February 2, 2021

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Sureify, the leader in providing digital enablement to life insurers, has recently expanded its executive level management team, naming Dan Gordon as president of the company. Gordon’s new role recognizes his already-significant contribution to the organization as Chief Strategy Officer, proving him to be a strategic thinker, planner and visionary. In addition to his role as Chief Strategy Officer, Gordon has served as a board member and advisor to Sureify for the past two years.

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Sureify’s place as a leading InsurTech in the Life and Annuity industry has already been cemented with the creation of their Lifetime Platform, that continues to help leading Life and Annuity carriers work towards digital enablement. The addition of this new position and the elevation of Gordon to president, further emphasizes Sureify’s continued rise.

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Prior to his work with Sureify, Gordon led the product management organization at Guidewire for 11 years, during which time that company grew from two customers with $2M in revenue to 150 customers with $350M in revenue. He also served on Guidewire’s management team, participating in key strategic and operational decisions for the company and was involved in sales deals, customer relationships, M&As, and partnerships. Gordon has served at head of product at multiple other technology companies.

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Sureify CEO and founder Dustin Yoder acknowledged Gordon’s experience in product and operations and his proven ability to manage the challenges of expansion as key factors in Sureify’s success. “Dan is brilliant in his ability to scale, manage and grow operations, whereas I am much more involved in strategic vision and evangelization,” he explained. “Because of our different ways of looking at the world, we are very much ‘yin’ and ‘yang.’ Our plans for growth at Sureify follow the same path – to guide more life insurers, and to help those we’re already working with to see even more success. We know that Dan will align us with exciting new opportunities to help insurers thrive in this remote world.”

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Gordon echoed Yoder’s thoughts on the partnership, and on Sureify’s continuing role as an innovator for insurers. “For many reasons, the life insurance industry is a difficult one to move.  So people like Dustin, who sees the potential, but has a realistic vision of growth, are incredibly valuable,” he explained. “I feel like our visions for Sureify are aligned. The product-market fit is there. And industry watchers can expect our continued strong focus on customer success. Referenceable, successful customers are our most valuable business asset, and they are also what drive us to want to come to work every day. We’re going to focus on bringing our customers from their early phase one projects into deeply embedded success that moves the needle for them.”

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Dan Gordon comes to Sureify with an MBA from Stanford and a BA in Political Science from Yale.  He also gives generously of his time, serving on the board of Made in a Free World, a non-profit working to eradicate modern slavery. He lives in San Carlos, California with his wife and two children.

Management Research Services and Liberty Bankers Insurance Group Unite (Case Study)!

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Management Research Services (MRS) is an industry leader in developing and delivering customized digital and automation solutions for clients and partners. Recently, MRS led efforts to streamline new business and underwriting processes for Liberty Bankers Insurance Group (LBIG) based in Dallas, Texas.

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When the COVID-19 pandemic began, LBIG experienced an unexpected service disruption with an existing underwriting service vendor for one of their highest volume product lines. In a matter of less than a week, MRS was able to mirror the existing process, as well as refine it to improve the customer experience. This resulted in minimal disruption to the new business process.

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Building on the success of that initial partnership, a second phase followed in June, wherein MRS developed and installed a reconfigured platform that integrated new data sources and greatly improved the customer experience. As a result of this phase, the new and improved MRS solution provided the following for LBIG:

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• A mortality analysis of a prospective client.

• Reduction in time to see which prescription drugs are currently in market.

• A better user experience.

• Access to a reflexive list of questions on health history.

• An increase in production due to a streamlined process for agents.

• Point-of-sale features for a client.

• Real-time reporting capabilities.

• Cost savings.

• Greater efficiency in issuing a policy to a client.

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Finally, MRS developed an e-Application (e-App) solution for LBIG in August 2020. The e-App was customized to LBIG underwriting specifications and completed an omnichannel experience for the selling agents. LBIG clients could now complete the life insurance purchasing process by utilizing one of two innovative e-signature options. This digitally enabled experience allowed a LBIG agent to sell remotely, a key feature that has proven extremely valuable in today’s market.

Ultimately, MRS served as a conduit for LBIG to modernize their processes from a manual process to a data-driven workflow.

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Another initiative MRS spearheaded was collaborating with another one of LBIG strategic partners, TAPP Solutions. TAPP Solutions designed and built a custom mobile app to assist LBIG agents in evaluating the health risk of a prospective client. This new technology enabled a pre-underwriting check that provided an agent a rate class for the prospective client prior to the beginning the application process. Overall, the partnership between MRS and TAPP provided LBIG’s agents with a seamless tool to enhance their user experience.

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Conclusion:

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Over the course of the past six months, MRS was able to maintain LBIG’s current workflow, while also creating and implementing new workflows to make new business and underwriting processes more efficient. The MRS technology platform has transformed what was once a tedious process, to a process where agents and applicants can receive immediate results. The LBIG partnership with MRS has allowed the life insurance provider to work more efficiently and prepare better for the future. MRS looks forward to continuing their relationship with LBIG and together they will continue to be at the forefront of data processing in the financial services industry.

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MRS CEO, Tim Dineen shares, “The whole project from start to finish has been very rewarding for both parties. We pride ourselves on creating solutions for our clients and we were able to do that for LBIG on multiple levels. We look forward to continuing to assist them for years to come.”

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At MRS, we help clients transform change into a competitive advantage.

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MRS provides a high-end technology product to life, health, and annuity insurance industries. In today’s world where “the only thing constant is change,” that original vision has been expanded to include more services and technology capabilities designed to help clients adapt quickly and in a cost-effective way. MRS has invested heavily in our technology platform to create a foundation for the next revolution in life insurance. MRS’s No-Code platform gives you all the tools needed to build a highly secure, complex application that efficiently collects voice and electronic data without writing a single line of code. The result is a vastly reduced time to market with no initial or ongoing maintenance costs making the total cost of ownership substantially lower than status quo solutions. Our platform’s ability to support powerful reflexive logic makes the MRS rules engine extremely efficient in collecting all information needed to make a point-of-sale decision. The capabilities and flexibility of our platform allow customers to use the MRS technology platform as their single solution or as a tool to support and enhance current technology solutions they already have in place. Please visit us at www.managementresearchservices.com or contact us by email at sales@mrsreps.com to learn more!

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Firms Using iPipeline’s InsureSight Data Analytics Increased Life Insurance Placements by 9% for Perm, 3% for Term

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InsureSight Data Analytics Enable Agents/Advisors to Break Through COVID-19 Challenges to Sell

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Exton, PA (November 10, 2020) – iPipeline® – a leading provider of low code cloud-based software solutions for the life insurance and financial services industry – today reported, for the period ranging from March to August 2020, five top firms using InsureSight® Data Analytics increased placement for permanent insurance products by 9% and term insurance products by 3% above the industry averages. This resulted in a $7.3 million increase in sales for the five firms during the height of the COVID-19 pandemic.

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Developed by iPipeline’s data analytics and data science team, the InsureSight® Data Analytics leverages data from iPipeline’s Agency Management System (AMS), which is comprised of 300+ Distributors, 70+ Carriers, 800,000+ annual application submissions, $8 Billion+ in annuity deposits, and $4 Billion+ in life premium within the industry. Real-time performance metrics for a participating firm are benchmarked against the industry to deliver a holistic view and drive improvement.

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“Nothing thrills me more than to see our customers benefiting from our digital products during the COVID-19 pandemic. The challenges to customer engagement are real, and selling in the contactless environment is extremely difficult,” said Larry Berran, CEO, iPipeline. “InsureSight Data Analytics is an extremely powerful and insightful tool for top management to use in benchmarking performance both within their unique environments as well as on a national basis. It not only provides knowledge about how you stack up against the competition, but it enables top management to evaluate what is being sold, where, and to whom to fine tune operations and optimize sales on a demographic and geographic basis. Being able to analyze white space for a product portfolio and identify viable markets is invaluable when things are tough. InsureSight is making a difference and proving to be a critical service in today’s marketplace.”

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“As an early adopter of iPipeline’s InsureSight Data Analytics, AgencyOne began to see and measure data points that we had never looked at before. We had a gut feeling about the success of our business, but we could not prove it other than by looking at our revenue,” said Gonzalo Garcia, Partner, AgencyOne. “To understand more about our business and people, we worked with iPipeline to develop the ‘advisor scorecard’ functionality of the system. By measuring each advisor’s business relationship with us and more importantly, communicating that information to our advisors on a quarterly basis, all parties are held accountable for the success of each other. It became a true business partnership. From there, we were able to have some very real conversations—using factual data points—to enhance services for productive relationships and terminate non-productive ones, resulting in long term, mutual profitability and growth.”

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“Lion Street has an intense focus on connecting high-net-worth individuals, family offices, business owners, and corporate clients with the best financial solutions to meet both their short- and long-term needs. Our ability to understand all their current and future needs has a profound impact on our performance,” said Dan Stanley, Vice President Operations, Lion Street. “iPipeline’s InsureSight Data Analytics provides the ability to quickly and efficiently identify service gaps and adjust both internally and externally to strategically plan our next move, and this has positively impacted our placement ratios in a very difficult year.”

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“As a data driven firm, having immediate insight into the dynamics of our business enables us to understand how we are performing as an integrated operation to address the needs of our customers and agents. This is particularly critical in today’s marketplace given the challenges,” said Mac Chrystal, President & CEO, Gen3 Advisor Group. “InsureSight Data Analytics is a powerful and rapidly enabled service, which has allowed Gen3 to react in real-time to all activities within our business process. There is no question that it has improved how we function as a team and driven record growth for us during the COVID-19 pandemic period.”

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To learn how you can implement iPipeline’s InsureSight Data Analytics to improve agent selling for permanent and term insurance products, contact sales@ipipeline.com or call 1-800-758-0824, option 2.

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About iPipeline

iPipeline is a leading provider of low code, cloud-based software solutions for the life insurance and financial services industry. Through our SSG Digital, end-to-end platform, we accelerate and simplify sales, compliance, operations, and support. We provide process automation and seamless integration between every participant in our ecosystem including carriers, agents, general agencies, advisors, broker-dealers, RIAs, banks, securities/mutual fund firms, and their consumers on a global basis. Our innovative solutions include pre-sales support, new business and underwriting, policy administration, point-of-sale execution of applications, post-sale support, data analysis, reporting, user-driven configuration, consumer delivery and self-service, and agency and firm management.

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iPipeline’s platform is used by approximately 150 carriers, 1,400 distributors and financial institutions, and their agents and licensed advisors in a cloud-based environment. With headquarters in Exton, Pennsylvania, iPipeline has locations in Boston, Bromley (UK), Burlington (Canada), Cheltenham (UK), Dallas, Davidson, Fort Lauderdale, Huntersville, Ontario (CA), Philadelphia, Pleasanton, and Salt Lake City. Visit www.ipipeline.com.

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About AgencyOne
AgencyOne works with a select group of life insurance and wealth advisors across the nation who specialize in the needs of high net worth clients. AgencyOne delivers full-service, back office support to our advisors so that they can focus on the client experience. By working with a select group of advisors, we help clients protect their financial security and transition their wealth in an orderly manner. We employ our talents and resources in medical underwriting, insurance-based solutions, and advanced planning techniques to deliver a highly personalized service platform. Our objective is to be recognized as the leading Brokerage General Agency in the country by the most successful insurance and wealth advisors serving the affluent marketplace. Visit us at www.agencyone.net.

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About Lion Street
Lion Street is a leading financial services company based in Austin, Texas. Lion Street provides elite life insurance advisors access to the financial products, intellectual capital, and specialized resources they need to meet the sophisticated needs of high-net-worth and corporate clients. Together, Lion Street’s Advisor-Owners are strongly committed to building a highly collaborative network of professionals. Visit us at www.lionstreet.com.

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About Gen3 Advisor Group
Gen3 is a family owned and operated IMO located in Youngstown, Ohio. Our goal is to help top insurance professionals and financial advisors simplify their businesses and better serve their clients through every step of the planning process. With a broad portfolio of life and annuity products, sales platforms, back-office, and marketing support, Gen3 is here to help producers grow. We’d love for you to join the family. To learn more, visit us at gen3advisor.com.

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For iPipeline:
Lisa Shea
Marketing
lshea@ipipeline.com
484-870-6234

Indexed Annuities and Structured Annuities Have a Record-Setting Year!

WINK

Wink, Inc. Releases 4th Quarter, 2019 Deferred Annuity Sales Results

Des Moines, Iowa. March 17, 2020– Wink’s Sales & Market Report is the insurance industry’s #1 resource for annuity sales data since 1997. Sixty-two indexed annuity providers, 50 fixed annuity providers, 68 multi-year guaranteed annuity (MYGA) providers, 11 structured annuity providers, and 47 variable annuity providers participated in the 90th edition of Wink’s Sales & Market Report for 4th Quarter, 2019.

 

Total fourth quarter sales for all deferred annuity sales were $53.3 billion; a decline of 3.3% when compared to the previous quarter. Total 2019 deferred annuity sales were $221.8 billion.

 

Noteworthy highlights for all deferred annuity sales in the fourth quarter include Jackson National Life ranking as the #1 carrier overall for deferred annuity sales, with a market share of 9.8%. Lincoln National Life followed in second place, while AIG, Equitable Financial and Allianz Life rounded-out the top five carriers in the market, respectively. Jackson National’s Perspective II Flexible Premium Variable & Fixed Deferred Annuity, a variable annuity, was the #1 selling deferred annuity, for all channels combined in overall sales for the fourth consecutive quarter.

 

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