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Stephen Lance Joins Proformex

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Stephen Lance Joins Proformex

 

Experienced SaaS startup sales strategist brings his expertise to the nation’s fastest growing life insurance technology software company

 

CLEVELAND, Ohio – June 16, 2020 – Proformex, creator of a proactive life insurance policy monitoring platform designed to give insurance agents, advisors and fiduciaries better oversight and visibility into the performance of inforce life insurance and annuities, today announced that Stephen Lance will be joining the team as its Vice President of Sales.

 

Lance has more than 25 years of Silicon Valley startup experience in various leadership positions with companies such as ParcPlace, ValiCert, and Intralinks. Additionally, he served in a sales leadership role working for Steve Jobs when NeXT was sold to Apple. At each company, he focused on creating highly profitable software IPOs while maintaining a customer-centric mentality.

 

“I am delighted to be joining the highly-motivated team here at Proformex and join their efforts in fundamentally improving the way agents and advisory customers service their clients and run their business,” Lance said. “The company’s growth so far has been remarkable, and I am eager and prepared to help take it to the next level.”

 

In his new role with Proformex, Lance will focus on further developing a customer-first, forecast-reliable, and growth-oriented sales organization. Like he did in previous positions, he will promote a positive culture of attainment and develop top performers to achieve our ambition to fundamentally improve inforce management for the industry.

 

Proformex CEO Kris Beck said: “We are incredibly proud to have Steve join team Proformex. With his demonstrated history in scaling software sales teams from startup to multimillion-dollar exits and IPOs, we think he is a perfect fit. I welcome his leadership and look forward to seeing the impact he will make on our company.”

 

About Proformex

Proformex is the industry leading life insurance inforce policy management solution for producers, financial advisors, trustees, and distributors. Our carrier and distribution agnostic platform enables customers to securely store, manage and analyze their entire inforce book of business in one place. Designed to proactively alert users of potential problems with their client’s inforce policies, Proformex protects policies against lapsing, degradation and asset erosion.

 

Media Contact

David Morris

(855) 341-1331

dmorris@proformex.com

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Filling The Gap With Human Capital Getting The Most Out Of Your System

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By Ken Leibow

Published in Broker World Magazine June 2020

 

Life insurance and annuity carriers figured out a long time ago that speed to market and reducing operational costs with a combination of outsourcing and technology for new business and claims, for example using third party administrators like SE2, EXL and Infosys-McCamish, was significant in allowing for more product launches and focusing on growing sales. A hybrid of this model offered by firms like Employee Pooling and eNoah has been hugely successful in the BGA space. I had the privilege to learn more about the value proposition these firms bring to the table for a life brokerage general agency (BGA) by talking with Tom Gray, founder and Michelle Anderson, head of marketing, L&C Division, at Employee Pooling, as well as Manoj Sherman, SVP, and Stacey Paulsen, director of insurance services, at eNoah.

 

A BGA Increases Focus on Sales with a Seamless Extension of their Team Using Employee Pooling
While daily operations for most agencies follow the same basic blueprint in processing, managing, and capturing new business opportunities, there is no one-size-fits-all in meeting a company’s needs to get the job done. The reasons to right-source your agency by seeking support from an offshore firm are diverse, but the expectations are the same–to extend operating hours through the U.S. nighttime and get the job done accurately and on-time without breaking the bank.

 

Companies like Employee Pooling can certainly position an agency to bring scale and bring stability to daily operations while increasing revenue, especially during these trying times when work volume can erratically ebb and flow. Agencies are also taking advantage of outsourcing options when faced with time restraints, or they simply lack the bandwidth to handle everything piling up on their plates. Why wouldn’t you turn to a BPO who’s seen and done it all, knows the intricacies of every major technology platform like Agency Integrator, SmartOffice, OneHQ, and SureLC, who knows all the rules and nuances of dozens of carriers, and has mapped out processes for every departmental task with care and detail? This level of skill and swiftness almost can’t be matched by any new office member. The bonus is these BPOs cost about the price of an intern.

 

According to Tom Gray, founder and president of Employee Pooling, LLC (EP), in addition to removing obstacles getting in the way of sales, the most important element for establishing a successful relationship with his customers is trust. “We treat every task that we do as if it were our own, whether it’s seeing an agent appointment through or handling comprehensive case management and commission build outs, we take ownership of the task at hand.” The EP team is literally woven into the fabric of a customer’s operations, and because they already know every component of the software technology that’s used in our industry, along with processes and best practices for every agency department from agent appointments, new business and commissions to inforce policy management, onboarding is swift and seamless. Gray adds that the customer relationship reaches a mutually meaningful level when EP earns their trust by assuming full responsibility for the tasks at hand.

 

In addition to onboarding customers who are looking to maximize their software performance or get more out of their current workforce, EP has taken on countless cases of “What now?” situations from customers who are faced with an unexpected circumstance that could significantly impact the overall flow of operations and their livelihood.

 

“These immediate employee departures can impact a company overnight,” says Gray, “And even the most dialed-in companies are not equipped to handle the workflow, do not know the ins and outs of software platforms like Agency Integrator, SmartOffice, OneHQ, or SureLC—or worse, they do not know the details of what’s involved in the process of that particular position that is suddenly vacant.” A recent example of the latter occurred when an EP customer suddenly and tragically lost their one and only case manager. They were at a complete loss and needed a case manager to step in overnight. EP was able to escalate from providing basic support to assuming all new business responsibilities in an instant.

 

Imagine having to step in and fill that role overnight…but EP rises and shines day in day out because of their expertise in every major technology platform, best in class processes, 24-hour service, and their customers’ trust.

 

BGAs Faced with Operational Challenges like COVID-19 are Using eNoah
The learning curve to onboard new talent is long, and finding experienced talent is not easy. It’s an extremely competitive space and with each BGA’s unique culture, finding the right person can be challenging not to mention costly. To add to the learning curve, the diversification of products coupled with state and federal regulations and the carrier’s own interpretation of compliance and the requirements that go along with them, have created a spiderweb of different processes. All which the BGA space has to consume and assist their advisors with. This role often falls on case management to be the “expert” for not only their advisors, but internally within their organization. They are also often involved in pre-sale activities to ensure paperwork and compliance is handled properly before the application hits their desk. eNoah has been successful in helping their BGA customers take on certain tasks so they can prioritize what is most important for their internal team members to focus on.

 

eNoah’s contingency plan ensures there is always an additional resource who knows your business and it’s needs. “We have resources ready with little to no onboarding to support our BGA customers. This also served us well with the recent COVID-19 pandemic. Because of our proactive service model, we were able to support our customers during a transition to work-from-home without a drop in quality or time service,” says Stacey Paulsen, director of insurance services at eNoah.

 

In this “want it now” environment, providing consistent and timely customer service is table stakes. The ultimate challenge is how one maintains time service commitments with excellent quality, all while still being fiscally responsible. eNoah helps juggle these three pain points for their BGA partners by utilizing industry experts who are knowledgeable in all areas of the life of an application while bringing cost savings. eNoah uses a blended approach with a Stateside account manager who has over 20 years of experience in the BGA space. They understand and appreciate the unique differences each BGA brings to the table and work with them to create their own customized onboarding process to make it as seamless as possible.

 

“We want to be an extension of your office, supporting your culture and contributing to your goals and mission statement,’” Paulson stated. “It simply cannot be a one-size-fits- all approach. I love developing strategic partnerships with our BGA customers and truly understanding where they are today and where they want to go. We can help whether that is with a specific need, such as application scrub and entry into your AMS, to full end to end case management and beyond. We customize and support to your unique needs with a delivery team who has over 25 years of experience in the insurance services industry.”

 

Unique Projects for IMOs/FMOs/BGAs
I have been directly or indirectly working on some unique projects to help solve pain-points for IMOs, FMOs and BGAs. As a co-chair of the ACORD Life Inforce Product Working Group, I am helping build out standards for messaging life inforce policies like pre-lapse notifications, policy owner service change requests, term conversions, and inforce illustrations just to name a few. One of the popular inforce policy management platforms is offered by Proformex. As great as the system is in managing an agent’s book of business and discovering new sales opportunities, the critical fuel to function is “data” that gets inputted into the system manually and/or through a data feed. I learned that ePooling plays a key role working with BGAs to manage that data and get it into the inforce policy management system. Another unique project is around commission accounting. The commission accounting systems out in the market today are focused on the BGA commission workflow. These vendors have not directly addressed the needs of commission management for an IMO or FMO. eNoah, with a combination of technology developed internally coupled with using personnel to set up contracts, commission schedules and hierarchies, has been able to remove the commission pain-points and automate what was a very manual process for IMOs and FMOs.

 

With the need for a scalable professional workforce, a BGA’s back-office is servicing agents for licensing/contracting, new business, commission accounting, inforce policy management, and sales illustrations, while also providing product and underwriting expertise. Typically, BGAs are using just a couple of solution platforms, specifically an agency management system, to manage their business. Partnering with a firm like Employee Pooling or eNoah to reduce operational costs and improve efficiencies with the integration of experienced people and faster processes while leveraging the BGAs existing technology is available today.

 

 

COVID-19 Pandemic Drives Surge in Life Insurance Virtual Sales Meetings

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Ensight, a leading life and annuity digital sales platform, today released the latest findings from its quarterly Trends Report which highlights a dramatic shift in life insurance interest due to the COVID-19 pandemic. As shelter-in-place orders forced life insurance agents to work from home, remote selling utilization increased by 155% in just eight weeks. Social distancing restrictions were among the biggest drivers of a transformation towards digital life insurance sales in more than 20 years.

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During April’s nationwide shutdown, the Ensight Platform created over 31,000 digital illustrations for remote sales engagements by agencies, producers, and financial advisors. The insurtech company also reported a dramatic increase in the number of agency users of its interactive virtual sales platform – from 84 to 215 between January and May of 2020.

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“Life insurance has always been a relationship-based business. It’s about connecting with clients and understanding their personal financial protection objectives, and the need for controlled risk that insurance products can offer amidst market volatility. The COVID-19 pandemic has not only re-catalyzed awareness of the need for financial protection, but also ignited a shift to digital client engagement, such as remote discussions over virtual meeting platforms,” said John “Hutch” Hutchinson, Founder of BankingTruths.com. “For years we’ve been working to train our clients to meet virtually, but over the past eight weeks, we’ve found the world is now leaning into a virtual way of doing business. The life insurance sector has realized that a virtual discussion is so much more flexible for the client, but also more productive for our business model. Ensight’s interactive presentations have been instrumental in elevating our virtual professionalism, and the interactive visual experience transforms mundane granular product data into a more tangible digital presentation that a client can understand and act upon.”

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The company, whose interactive virtual sales platform supports life insurance quoting with an easy-to-use, intuitive platform notes guaranteed universal life insurance (GUL) protection-oriented quoting maintained strong activity of nearly 39% in April 2020. In contrast, indexed universal life insurance (IUL) grew from 30% earlier in the year to an average 35% in six weeks. The company’s life agency base supports tens of thousands of life agents, producers, financial advisors and financial services firms with digital interactive presentations for remote sales.

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“The response to the coronavirus has created a broadscale shift to a virtual sales model and is reinvigorating the traditional way life insurance agents conduct business,” says CEO Bill Unrue. “These changes were already taking form as the growth of the gig economy, remote working, and virtual financial advice increased; what we’re seeing now is how the pandemic has accelerated the industry’s digital transformation.”

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To learn more about Ensight at https://www.ensightcloud.com/.

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About Ensight™

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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.

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Read Press Release at: CISION PrWeb

10,000+ claims executives gather for Connected Claims USA Virtual by Insurance Nexus and Reuters Events

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Connected Claims USA has officially launched as the first fully virtual claims event and remains the world’s largest and most senior claims event (June 23-25, 2020).

 

As uncertainty becomes the new normal, it has never been more important for the insurance industry to pull together to support customers and claims handlers alike through this difficult time. Claims transformation is more urgently needed than ever before.

 

It’s true that we’re in a period of disruption, but from disruption, I believe, can come transformation and growth. And that’s what I hope we do as colleagues, is lead through this and make this industry better” said Eric Brandt, EVP and Chief Claims Officer at Allstate.

 

That is why Brandt and other executives will speak at Connected Claims USA Virtual, the largest ever gathering of claims executives, available free to the industry. “This is an opportunity for the entire industry to collaborate, inspire and lead” said Emma Sheard, General Manager of Insurance Nexus by Reuters Events.

 

Also confirmed to speak are Mike Fiato (Chief Claims Officer, Liberty Mutual), Bryant Vernon (Chief Claims Officer, Aviva Canada), Jeanette Ward (Chief Operating Officer, Texas Mutual), Evan Scarponi (Chief Claims Officer, Prudential) and more.

 

Register for free today

Connected Claims USA Virtual attendees will form the largest insurance claims community, taking part in a multitude of interactive online sessions, discussing and dissecting the issues at the heart of claims. Attendees will also be afforded a virtual networking suite, digital exhibition, tailored practical workshops and more – you can find out more and register on our website.

 

Mariana Dumont

Head of USA Operations

Insurance Nexus

Phone: +44 (0) 207 422 4369

Toll Free: 1 800 814 3459 Ext: 4369

Email: mariana.dumont@insurancenexus.com

 

Insurance Nexus is part of FC Business Intelligence Ltd. FC Business Intelligence Ltd is a registered company in England and Wales. Registered number 04388971, 7-9 Fashion Street, London, E1 6PX, UK

 

Insurance Nexus is the central hub for insurance executives. Through in-depth industry analysis, targeted research, niche events and quality content, we provide the industry with a platform to network, discuss, learn and shape the future of the insurance industry.

 

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LBTC Announces New Co-Chairs

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We are excited to Announce that The Life Brokerage Technology Committee (LBTC) has elected 3 New Co-Chairs (See complete bios at end of post). The new leadership team brings a vast amount of industry experience to drive LBTC forward in working with its members in solving industry technology pain points and creating process improvement for Life Insurance services. The LBTC new co-chairs will also bring awareness of new innovations to the industry.

 

12345* Pat Wedeking, Vice President of Tellus Brokerage Connections

12345* Marjorie Ma, VP & Head of Product Management of AIG USA Life Insurance

12345* Brian Kirland, Senior Director Sales & Marketing of SuranceBay

 

 

The new co-chairs each represent respectively Distributors, Carriers and Vendors. They will serve a 2-year term. The new co-chairs are supported by the LBTC Steering Committee: Joann Mattson of Highland Capital Brokerage, Jeff Lingenfelter of John Hancock Insurance Company, and Ken Leibow of InsurTech Express. LBTC has 120+ industry members. Please see below on how to join LBTC.

 

The Life Brokerage Technology Committee (LBTC) is an independent working group whose purpose is to exchange information about technology related systems and services related to the marketing, sale, and servicing of insurance in independent distribution channels. Some of LBTC’s past initiatives focused on process improvement and solving technology pain points: Automated-Underwriting, eApp, eDelivery, eSignature, Commission Accounting, and Pending Case Status to name a few. LBTC conducts industry surveys, whitepapers, webinars, media and has a face-to-face meeting at the Annual NAILBA Conference in November. LBTC partners with other industry associations such as NAILBA, ACORD and LIDMA.

 

JOIN LBTC

There is no cost to becoming an LBTC Member. Each person who wants to participate in LBTC in your organization can join. Each person will need to fill out a membership form.  You can join LBTC by downloading the membership form and emailing it to Joann Mattson at jmattson@highland.com. Download LBTC Membership Form: https://lnkd.in/eHhHjfZ

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Pat Wedeking

Pat Wedeking is an industry veteran whose focus has been on process improvement, direct marketing and brokerage business development. Coming from the hospitality business as a PGA apprentice, Pat entered the life insurance business through Northwestern Mutual’s training program.  After 10 years in personal production Pat entered the general agency business with a technology driven brokerage focusing on lead generation a lead relationship management (LRM) system.  This platform served as the foundation of Quick Life which was sold to Crump in 2016.

 

During the growth of the brokerage Pat was the founding President of the Life Insurance Direct Marketing Association known throughout the industry as LIDMA.  This organization focuses on industry technology that improves the process of obtaining insurance and helped usher in the ubiquitous use of electronic payments, signatures and delivery of policies.  Further process improvement initiatives focus on voice signature, data based underwriting and bringing data closer to the point of sale.  After service to LIDMA Pat was elected to the Life Happens board of directors and served as Chairman of that organization in 2017. Since joining Crump Pat has been in business development positions focusing on the use of their transaction center platform and, most recently, with Crump’s IMO division, Tellus Brokerage Connections.  Pat brings energy and a big picture mentality to his endeavors.  He has a wealth of knowledge and industry relationships that will help any organization he serves.

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Marjorie Ma

Marjorie Ma is the Vice President and Head of Product Management and Market Intelligence, AIG USA Life Insurance. She has over 8 years life insurance experience and is now responsible for Life Insurance Product Development and Management at AIG, including product strategy development and implementation, as well as day-to-day product management across AIG’s broad life product portfolio. She is also leading Market Intelligence Team to collect industry and competitor updates and to provide actionable intelligence to product, pricing, sales, marketing and operation teams.  Marjorie joined AIG in 2012 after obtaining her MBA degree from Rice University and has since worked in the Life Insurance Industry.

 

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Brian Kirland

Brian J. Kirland received his Economics degree from Saint Mary’s College of California in 1997. He began his career in the financial industry as a Portfolio Manager’s Assistant at NWQ Investment Management. From 1998 until 2014, Brian was a part of a growing technology firm, Xtiva Financial Systems, whose products focused on the Broker-Dealer and Securities industry for Sales compensation. Brian then joined LaserApp Software in 2014, deepening his insurance technology expertise. During his two years with LaserApp, Brian spent his time meeting agency principals and carrier partners helping establish a new business platform for the firm.

 

Brian joined SuranceBay as a National Account Executive in July of 2016 and currently serves as Senior Director of Sales & Marketing and a member of the executive management team. Brian works to increase sales within the distribution channels, carrier partners and vendor integrations for SuranceBay’s flagship product, SureLC™. Since 2009, SuranceBay has been an industry leader in providing innovative licensing and contracting software to independent brokers, agents, and carriers. The recent introduction of complementary tools such as DataLink, SureLC One, Background Screening, and AML training, makes SuranceBay’s SaaS platform a one-stop-shop for over 85% of the independent life insurance agents in the United States. SuranceBay incorporates the assets of more than 600 life insurance carriers with subscriptions from over 800 BGAs, optimizing the workflows of 425,000+ active producers nationwide, and processing over 50,000 monthly contract submissions.

 

Shared Claims Software is the Future

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By Direct Claim Solution (DCS)

So, you are considering a new claims software system. Your organization wants something great. You imagine a system that enables users to reduce costs and cycle time and increase throughput dramatically.

 

You also want to improve the vendor process and workflow efficiencies. You expect your new system to be in place for the next 20 to 30 years. With that in mind, it should be adaptable for growth as well as the inevitable changes.

 

Here’s the question. Are you thinking about extending access to your service providers using a shared claims software system?  If not, why not?

What is a Shared Claims Software System?

A Shared Claims Software system allows an organization to extend direct access to external stakeholders. That’s right. In addition to optimizing the efficiency of internal staff and management, a shared system makes your service providers better. It does this by simply allowing users that are external to the organization to have login credentials and a set of defined permissions to view, add, edit or extract information.

 

In a shared system, specific workspaces that you populate and view are shared directly with others. Because risk and insurance involves a large number of vertically aligned service providers in the chain, a shared solution is a highly effective way of bringing many specialists together to a common location for information exchange. To create such a solution, the system designers must possess in-depth knowledge of each user’s contribution within the big picture workflow.

 

The key advantage of a shared solution for a claims department is that a common workspace eliminates the need for internal staff to request reports, receive and process reports and then re-type summary information. For many claim professionals, those tasks take up 80% or more of their entire workday. Worse yet, much of the effort is not ‘value-added’ because it is heavily administrative and only partly analytical.

 

There is a better way. In having direct access to the system, service providers such as defense counsel, damage appraisers, and assigned experts can deliver their work-product in the exact format and order preferred by you “their customer.” Direct access eliminates the need for processing, interpretation, and transcription from an externally provided document. It’s a direct pour into the claim mold.

 

The key disadvantage is that external service providers have access to your system. But never fear, this is where smartly designed software offers one of its most valuable tools. That is the two-pronged security feature of data isolation and user permissions. In data isolation, claim records not assigned to a vendor are not accessible.

 

Further, a “Rights and Permissions module” defines what pages and functions can be seen and operated by users based on that user’s assigned role. Limitations can be set such that external users may only view and edit certain areas of the system such as the litigation or subrogation screens. A rogue external user can be prevented from modifying data in places that should not be modified. And, a single question on the user-setup page tells the system who is “internal” and who is “external.”

 

External users can be “walled off” from viewing claim records that are not within their responsibility. With these security features, access is a highly manageable risk.

The Use Case for Litigated Claims

A perfect example of the benefits of sharing is seen in the litigation handling context. Litigated claim files rightfully garner a lot of attention. These are files that result in an exponentially higher cost in terms of time, energy and money. They often involve several outside service providers to assist with coverage issues, fact investigation, witness statements, legal research, and valuation.

 

Companies spend massive dollars on discovery and settlement efforts for litigated files. These matters typically have the longest cycle time and largest negative financial impact on results. So, how can a shared system minimize the blood-letting on a litigated file?

 

First, it is important to understand that a shared system does not change the respective roles and responsibilities of the parties involved. There is still a claim professional responsible for the overall handling of the claim file to resolution. That claim professional assigns and manages all service providers working the case.

 

Service providers perform a variety of functions from investigation and legal research to appraising damage and theorizing causes. Service providers conclude their work with reports that include findings, opinions, and recommendations.

 

The Problem – Excessive costs of information exchange between claims professionals and service providers. These costs are evidenced by rising headcounts, increasing pending claim volume, and increasingly poor quality of claims handling amid a level inflow of claims.

 

Current Process – The industry is predominantly using litigation report templates and emails to communicate. The defense firm (service provider) typically has dozens of clients, and each client has its own version of the “proper” litigation report template.

 

Claims professionals send email notifications to defense counsel to request overdue reports and grant extensions of time. Few claims professionals can keep up with their litigation caseload. Their requests for information and subsequent review of that information is often severely delayed. Defense attorneys are often unable to keep up with reporting deadlines and either fail to submit reports or submit them untimely for various reasons.

 

Additionally, defense firms are unable to keep up with the template differentiation across clients and subsequent changes in those templates as dictated by each insurance company from time to time. In this kind of slow traffic, claims start to turn sour for everyone involved.

 

Shared Software as A Solution – With a shared system, the claims professional directs the system administrator to add the service provider as a “vendor” on the claim record. Once complete, that service provider defense attorney can directly access the litigation management screen and other select features within a cloud-based system. Fields and content can be populated by the defense attorney with key information summarizing investigations, legal research, and valuation of the claim along with procedural developments in the case. Demands by plaintiffs can be tracked, and recommendations can be entered directly into the claim system.

 

This direct access eliminates the need for the defense attorney to locate the most up-to-date litigation template, and then complete and send for review. In turn, the claims professional must receive the report and translate or interpret key data into respective claim system fields. The shared solution brings the voice and the eyes of everyone involved in the same location where collaborative claim analysis can be accomplished.

Realign Insurance Strategy with the Power of Tech

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Accelerate your digital capability to navigate disruption

Even before Covid-19 began its global march, the insurance industry was gearing up for profound change. But as the events of 2020 continue to evolve, there is growing sense of urgency for carriers to accelerate delivery of spot-on solutions for their customers.

 

To navigate this new era, Reuters Events is launching Insurance AI and Innovative Tech Virtual (May 27-28).

 

Across all corners of insurance, longer-term goals now require immediate action, and a strategic push to embrace digitalisation like never before. At this unique gathering of the industry’s most senior figures, innovators and decision makers expect to:

 

  • Outline a roadmap for the future of insurance
  • Share the latest strategies on how to drive workable solutions and innovations
  • Work towards an environment where all carriers can not only survive, but prosper
  • Discover how to build trust and win over the new generation

 

Meet decision-makers from across the entire value chain, with 1000+ leaders from technology, innovation, data, analytics and more. Now is the time to join the boldest minds in insurance to create a competitive edge through a unified tech strategy.

 

Confirmed speakers include:

 

  • Jane Possell, Chief Information Officer, CNA Insurance
  • Greg Tacchetti Chief Information and Strategy Officer, State Auto
  • David T. Vanalek, Claims Chief Operating Officer, Markel
  • Amandah Greiling, SVP and Head of Underwriting Support & Service, Zurich North America
  • John Almasan, AVP, Head of the Actuarial Advanced Analytics, Nationwide

 

To stay ahead in this new era for insurance, this is the one virtual event that executives with a strategic interest in technology, innovation, data and analytics cannot afford to miss!

 

Virtual attendees of Insurance AI and Innovative Tech Virtual 2020 will become part of North America’s largest insurance community, with over 2000 industry leaders coming together to network, debate and learn from renowned experts. To give attendees control over their own networking, Insurance AI and Innovative Tech Virtual 2020 will also be utilizing the innovative Brella app, allowing attendees to set up online meetings with new contacts and create valuable business networks that can be leveraged in future. Even from a distance, Insurance AI and Innovative Tech will feature more interactivity than ever before; remote polling will gather the audience’s perspectives on pressing issues and attendees will be able to submit their own questions to our expert speakers using the Slido platform. Please find more information on agenda and registration via the website: https://events.insurancenexus.com/analyticsusa/register.php

 

Insurance Nexus, a Reuters Events Company, is behind Insurance AI and Innovative Tech Virtual (May 27-28).

 

Contact:

Ira Sopic

Global Project Director

Insurance Nexus

T: + 44 (0) 207 422 4363

E: ira.sopic@insurancenexus.com

 

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About Insurance Nexus

Situated between London’s Silicon Roundabout and the City, Insurance Nexus is at the innovative heart of an industry undergoing significant disruption and innovation. Insurance Nexus is the central hub for insurance executives. Through in-depth industry analysis, targeted research, niche events and quality content, the team provides the industry with a platform to network, discuss, learn and shape the future of the insurance industry.

 

 

The Answer is Multiple Choice – A truly innovative claims process puts customers first

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Technology is an important enabler for innovative claims but understanding how, when, why and where the customer wants human interaction and having the skills to deliver it is often the critical last mile.

 

Insurance Nexus, part of Reuters Events asked three industry leaders to reveal their unique take on insurance claims innovation. To download the free whitepaper, with contributions from Economical, Wawanesa and Aviva, click here: https://bit.ly/2XOnTAh

 

What does innovation mean for you? Is it about incremental improvements in current technologies or process? Perhaps innovation should be more radical, the only true innovation being the wholesale disruption of a service or sector?

 

Certainly, there’s no lack of examples of either of these in the insurance sector. On the one hand, improvements in data management, technology integrations and a mobile-first approach has made all sorts of activities from generating quotes to claims reimbursement faster and more hassle-free than ever.

 

On the other, new services are springing up to tackle previously unmet customer needs, services that look unlike any model the insurance sector has seen before. Services such as Lemonade, which boasts the industry’s fastest end-to-end claims process. Settlements in a matter of not weeks or days, not even hours, but seconds. Or Metromile, which allows microinsurance at scale, allowing customers to insure only their small part in the growing sharing economy.

 

But experts have more recently suggested that the true innovation isn’t in the apps or platforms themselves, but in the way carriers choose to deploy them. And choice is the operative word. Technology shouldn’t be helping carriers dictate new ways of claims management. Instead, it should be opening up a whole landscape of choice around where, when and how customers want to manage their claim, in some cases subverting even the most current thinking around what it means to be a modern, tech-driven insurer.

 

To download the free whitepaper, with contributions from Economical, Wawanesa and Aviva, click here: https://bit.ly/2XOnTAh

 

 

Do not hesitate to get in touch to further the conversation.

 

Graham Proud
Global Head of Connected Insurance Research, Insurance Nexus
Reuters Events
Tel: +44 (0)20 7375 7221
graham.proud@insurancenexus.com

ApplicInt’s End-To-End Digital Solution Accelerates The Drop Ticket Process

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ApplicInt is an innovative technology leader with the only end-to-end digital solution that includes multi-carrier quoting, eApp, integrated call center platform and digital paramed. The CallComplete solution snaps easily into any carrier’s call center. It has scripted reflexive interview questions for Part One and Part Two. Also, CallComplete can be used remotely as a fulfillment process for ExpressComplete term ticket or any third party ticket platform. Forms, including unique special authorizations required for plus-25 percent of APS records, are signed with voice or eSignature. It also uses data from Rx, MIB, MVR, and accelerates additional requirement ordering like an APS. ApplicInt has added four new modules that result in more accuracy and faster cycle time:

 

·        eLab Slip: Electronically collects Lab Slip Information.

·        ONE Touch: Cuts time to obtain a special authorization up to 90 percent for medical records.

·        Warm Transfer Complete: Client and data seamlessly transferred to call center by examiner.

·        Identity Complete: Securely verifies signers identity.

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Employee Pooling Operations Readiness COVID-19 Pandemic

EPSTRONG for FRI CC

 

Life Insurance Brokerage Agencies and Financial Institutions are making Employee Pooling (EP) as part of their business interruption contingency plan. Business interruption due to the pandemic has made Right-sourcing more important than ever. Whether your business is interrupted by a virus that affect humans or a virus that affects a business’s systems, our customers have found that a relationship with EP gives them a resource they can count on to bridge gaps caused by large, unexpected events. Over the last couple of months, EP has been called into action.

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Success! EP is maintaining “business as usual” operations during mandatory work-from-home strategy

Overnight, our entire New Delhi team did a spectacular job transitioning to a secure work=from home environment withour missing a beat!

 

As the Delhi government gave word just yesterday that all facilities were ordered to close until further notice, EP New Delhi upper management and employees embraced the opportunity to come together and seamlessly alter the path of operations with no impact thus far on the usual daily tasks performed. We are proud and amazed.

 

I’d also like to share something even more unbelievable. Currently, of 1.25 billion Indians, there are only 400 confirmed cases…the same number as Tennessee. India is on lock-down, Delhi’s borders are sealed, the people are staying home.

 

We don’t know what tomorrow will bring, but right now we are happy to report that we are operating “business as usual” and India is doing the right things.

 

EP is committed to getting through these difficult times together while continuing to provide our very best support to you.

The following steps have been taken to ensure workflow is not interrupted.
 
  • Employees will be connected to the office network behind SonicWall Firewall via Virtual Private Network (“VPN”) in order to perform their responsibilities.
  • Our employees will only have access to work-related websites; employees will not be able to access any other website or application with their company issued laptops.
  • Our IT team will follow a Zero Trust policy by tracking all employees’ system activity and frequent log checks. System activity includes keystrokes and print shots at an interval of every 10 seconds and browser history.
  • Employees have signed an NDA which is specific to IT policies and they have been warned of serious disciplinary actions involving any security breach.
 
Kindly be patient with us Monday (23rd) and Tuesday (24th) to allow our employees to adjust to this new work arrangement.
 
  • EP Team Leaders will stay in close contact with their counterparts in agencies they work with.
  • Customers are urged to use their dedicated email support IDs to communicate with their Delhi teams.
  • If you have anything urgent that needs to be handled, please reach out via text to the Nashville department head. 
 
New Business – Alice Pratt 615-970-9061 
L&C – Michelle Anderson 615-500-6961
Commissions – Marshall Gray 615-887-1082
Security and IT Concerns – Matthew Johnson 615-481-4385
Other Departments & Concerns – Tom Gray 615-300-7126
 
 
For IT and security concerns, please email IT@ep-insuranceservices.com
For service-related concerns, please email execmgmt@ep-insuranceservices.com
 
You may also call 615-610-5585 ext. 301 for Harmeet Singh, CTO, New Delhi or
ext. 201 for Tom Gray, CEO, Nashville. When you reach voicemail, press # and it will roll to our mobile phones.
 
Thank you for your continued support. We are here for you!
Employee Pooling, LLC | www.employeepooling.com