ApplicInt Partners With SBLI to Simplify the Life Insurance Application Process Using U*Complete

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RENO, Nev., Jan. 13, 2021 /PRNewswire/ — ApplicInt, an industry leader with their suite of insurance application fulfillment solutions, recently led efforts to digitize the Life Insurance application process for Savings Bank Life Insurance Company (SBLI), based in Woburn, Massachusetts. In a Pilot, SBLI successfully implemented ApplicInt’s U*Complete platform for clients to self-complete Life Insurance applications, which is seamlessly integrated into SBLI’s fulfillment process. SBLI is planning for a full production rollout of U*Complete in the second quarter of this year (2021).

Direct to Consumer Life Insurance Electronic Application software solution.

“We are very excited about our partnership with ApplicInt and the opportunity to use UComplete in innovative ways to help our clients,” said Rose Conneely, COO, SBLI. “Our focus is to simplify the application process for agents and their clients alike, and our 100% digital Self-complete Application Process Pilot has demonstrated very positive results. We look forward to rolling it out to the market.”

“Our goal is to make the application process as simple and convenient as possible, and via our partnership with ApplicInt, we have piloted an easy-to-use 100% digital process for clients to self-complete their application, while automatically providing agents and their clients ‘status alerts’,” said Rose Conneely, COO, SBLI. “We are planning to roll-out this new option in mid-2021.”

ApplicInt’s U*Complete has two workflow self-service models: “Carrier Direct to Consumer” and “Agent Direct to Customer”. In the Carrier Direct to Consumer process, the consumer has a secure login to the Carrier’s Website. The consumer chooses a face amount/term product and runs a quote. They then complete a Part A Life Insurance Application, with the Part B medical questions being optional depending on the carrier’s fulfillment process. The consumer then eSigns Forms. There is real-time chat available when needed or a warm transfer to a call center to schedule an exam if needed. Forms and data are sent to the carrier in good order. The Agent Direct to Consumer model is essentially identical, except that the Agent initiates the fulfillment process and the consumer can review quotes from various carriers.

Mike Feroah Sr., Founder and Chief Strategy Officer of ApplicInt stated, “We are overly excited about the extension of our technology that allows a common platform to be used by consumers, call centers and examiners to provide part A or part B application information to carriers. U*Complete also can be integrated with automated underwriting platforms for deep instant decisioning. And if you have existing ApplicInt software, it can be converted to U*Complete in a matter of weeks. U*Complete provides better a customer experience with enormous cost and efficiency savings.”

About ApplicInt

ApplicInt, a leading information technology company, has developed several innovative, interoperable solutions that can be customized to meet the unique requirements of each client. ApplicInt was founded in 2003 to provide efficient and cost-effective technology solutions for the collection and distribution of information for life insurance applications. Automating the broker’s world not only means digitalizing their offices but, more importantly, streamlining and simplifying the process of obtaining insurance.

Media Inquiries:

Trish Gates

ApplicInt USA Inc.

775-325-4610

tgates@applicint-usa.com

Related Images

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U*Complete
Direct to Consumer Life Insurance Electronic Application software solution.

SOURCE ApplicInt USA Inc

Ameritas Selects iPipeline’s SSG Digital Platform to Enhance Life Insurance Processing for Financial Professionals

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e-Application, Self-Service Capabilities, and Network to Optimize Financial Professional and Carrier Performance

Exton, PA (January 12th, 2021) – iPipeline® – a leading provider of low code cloud-based software solutions for the life insurance and financial services industry, today announced Ameritas has chosen the SSG Digital® Platform to streamline the application processing experience. Ameritas is a mutual-based provider of life insurance, financial services, and employee benefits. iGO® e-App and Maestro® Self-Service will be integrated with Swiss Re’s Magnum Pure® full-service underwriting automation to accelerate business processing, lower costs, and improve the customer experience for the Ameritas independent distribution channel. iPipeline has the life insurance industry’s largest independent distribution and carrier network within North America.

“In a recent Deloitte survey, 48% percent of 200 insurance executives agreed the pandemic showed how unprepared our industry was to weather this economic storm. Digital technologies are essential to succeeding in today’s contactless selling environment, and iPipeline’s low code SSG Digital platform has what it takes to power the industry forward in 2021,” said Larry Berran, CEO, iPipeline. “Using iGO e-App and Maestro Self-Service with Magnum Pure will help Ameritas to improve their financial professional and consumer experiences.”

“Ameritas evaluated several technology providers to find a platform that best fit our needs,” said Robert Sharp, Head of Independent Distribution at Ameritas. “iPipeline is a strong organization in the independent marketplace with integration experience and an innovative end-to-end platform. We look forward to working with iPipeline on automating our new business processes.”

To learn how you can implement iPipeline’s innovations to automate how your products are sold and processed, contact sales@ipipeline.com or call 1-800-758-0824, option 2.

About Ameritas
Ameritas is a marketing name for Ameritas Mutual Holding Company and its affiliated subsidiary companies, including Ameritas Life Insurance Corp. and Ameritas Life Insurance Corp. of New York. Founded in 1887, Ameritas offers a wide range of insurance and financial products and services to individuals, families, and businesses. These products and services include life insurance; annuities; individual disability income insurance; group dental, vision, and hearing care insurance; retirement plans; investments; asset management; and public finance. Securities offered through affiliate Ameritas Investment Company LLC. (AIC), member FINRA/SIPC and investment advisory services offered through the business name of Ameritas Advisory Services. AIC is not affiliated with any third-party entity mentioned herein. For more information, visit ameritas.com.

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.

iPipeline’s platform is used by approximately 450 carriers and fund companies, 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.

###

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

No-Code – What Does It Mean?

What does “no-code” mean, anyway?

Though still a new term to many of us, the no-code phenomenon is everywhere. Laymen, civilians, and folks across industries find themselves asking, “What do they mean by no-code?” If you look it up, you might find a definition that reads something like this: “No-code technology allows users to develop rapid solutions which transform business processes and meet customer needs.” Um, it does what, now? Explain this to me in English, please.

Maybe this will help.

Consider a common scenario from twenty years ago: you hear a friend proudly proclaim they had built their own website. You think, “Hm, I didn’t know so and so could speak Java,” and of course, they couldn’t. They had merely taken advantage of early, first-generation website design programs like Dreamweaver or FrontPage. The end-result looked almost like the output of a professional, at least it did for the standard of the early 2000s.

The current “no-code” era is just progression of this same thing: designing applications to be do-it-yourself for the non-technically inclined masses. Dreamweaver and FrontPage were some of the first no-code programs in the mainstream. Modern no-code applications have the same pieces: drag-and-drop, clicking, drop-down-menus and template choices allowing users to create something which previously required a programmer fluent in HTML. Real world applications of no-code are all around us. You can create your own virtual storefront with Shopify or design an internal company web-app with Budibase. Today’s DIY, non-coding website designers use tools with late-generation sophistication like WordPress and Carrd.

The insurance realm is no exception to the no-code revolution. Third-party administrators and carriers can choose from a wide variety of insurance-specific platforms that interface with employee or customer portals based on underwriting decisions. Management Research Services (MRS) has developed an easy-to-use, yet sophisticated application that gives their clients the tools they need to manage their workflow. Their system has comparatively low maintenance costs and no coding experience is necessary for implementation.

At MRS, we have decades of insurance industry experience to inform the design and features of our no-code insurance services platform. Our rules engine can be customized by SMEs to accommodate even the most complex underwriting or scripting scenarios. The MRS proprietary system is cloud-hosted on Microsoft Azure to ensure state-of-the-art security, stability and scalability that is available to our partners at any time, all year round. Recent metrics show the MRS platform experiences online uptime of over 99%.

To learn more about how the MRS no-code platform serves their partner clients, customers, and carriers, visit www.managementresearchservices.com.

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

Liberty+Case+Study

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.

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.

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:

• 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.

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.

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.

Conclusion:

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.

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.”

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. Please visit us at www.managementresearchservices.com or contact us by email at sales@mrsreps.com to learn more!

Next Gen Personalization Methodology for Life Insurance

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Consumers have come to expect personalized, multichannel user experience from companies that they interact with. Most industries are now able to offer their customers products that match their immediate and long-term needs wrapped in tailored messaging that speaks their language and caters to their lifestyle, behavior, attitude, and preferences. This the basis for the data driven, ‘People Like You’ marketing strategy that is commonly used throughout B2C campaigns.

Most life insurers currently use traditional segmentation tools such as Tapestry (Esri), Mosaic (Experian), and even Facebook, as the basis for their marketing strategy. This allows insurers to personalize their marketing activities and products in the Life Insurance vertical. In short, Tapestry, and the like, classify people into over 60 groups and types based mainly on zip code data. This cohort is creating unique live style segments relating to demographics and socioeconomic characteristics. Tapestry, for example, describes US neighborhoods in easy-to-visualize terms, ranging from “American Royalty” to Heartland Communities.

tapestry esperian

But what if you could add a totally new dimension to traditional classification in the form of recurring Behavioral Patterns to create hundreds of thousands of additional granular segmentations, providing a full and complete insight into your Book of Business?

Atidot leverages on these powerful segments with its AI and Machine Learning capabilities and augment a behavioral pattern to the data. We use external information from public databases as well as internal sources such as CRM systems. This information will enrich your database and provide additional insight into your Book of Business or creating a platform for new marketing strategies that are more accurate, potentially enabling marketing campaigns based on real time customer data. Occupation, proximity of hospitals, day of premium payment, investment patterns etc., can impact the Lifetime Value of your policyholders and can help create additional revenue sources.

This is the next generation platform for product personalization and product offering for tailored marketing campaigns, new risk modeling, lapse strategy and more. Moreover, machine learning technology can keep learning as policyholders’ actions are recorded to create more accurate and additional profiles, thus detecting the most profitable potential customers. This is the basis of our Nano-Segmentation Methodology.

For example, one behavioral pattern is the client’s payment date. Different dates may have different meanings. For instance, if someone is repeatedly late in their premium payments, the machine can find a pattern such as “these people, if their age is between 40-50, tend to lapse within 5 years”. This behavioral pattern could have a totally different meaning if they are between the ages of 20-30. Here it might suggest that they are busy successful people who don’t have enough time to attend to their finances. Yet they may match the most profitable policyholder groups that insurers have.

Another example of a Behavioral Pattern relates to sensitivity to financial market trends. For instance, when the Bond Index is on the rise, some people tend to invest more in their own pension funds. AI and ML technology tie such behavior patterns into different groups, such as the trendsetters segment (a traditional segmented group) that potentially tends to invest when the Bond Index is up (based on the correlation between two sets of behaviors) indicating that they have a financial orientation and can be treated in two different ways. If the client owns a policy with a 4% guaranteed premium that was issued years ago, they should be encouraged not to lapse that policy. When the Bond Index is down, insurers might consider selling more protections to that segment.

On a strategic level, if you are catering to this specific group you might launch a marketing campaign in channels that cater to this specific group of trendsetters with a financial orientation, for instance, via bloggers associated with style, targeted ads in fashion publications, direct email, etc. The possibilities are endless.

So, since AI and ML capabilities can be trained to translate real time events into real time data, this newfound segmentation becomes the platform for tailored marketing targeting that can factor any real time relevant data. For instance, changes in the COVID 19 geographic spread can impact the demand for life insurance, generating real time targeting on a weekly or monthly basis, through traditional channels such as email campaigns, social networks etc.

Key Benefits:

– Tens ot thousands and up to millions of new segmentations.

– A dynamic software platform vs. static commonly used tools.

– Life insurance-specific software, catering to the life insurance segmentation

– An accurate platform for new marketing strategies

– Behavioral-based on top customary data driven – providing a competitive advantage.

– Maximizing the value for your existing customers.

Resulting in deep understanding of the customer base and full optimization of the Book of Business, as well as new revenue streams generated from a specific target audience. This next generation approach will set the basis for marching your company into the challenges of the next decade that are all about customer experience and profitability.

Creating an Integrated Experience for Buying Life Insurance

The life insurance industry is at a tipping point! Forced to deal with constant challenges in optimizing operational costs, improving overall accuracy, and enhancing customer experience, all the while ensuring the highest return on allocated capital, insurers worldwide are treading treacherous waters. As insurance companies are overwhelmed with vast amounts of structured and unstructured data, they find it extremely hard to collect and analyze data from multiple sources. Most insurance carriers still rely on outdated technologies and legacy IT infrastructure to facilitate data capture, and this typically leads to poor data quality, scalability issues, and cost and operational inefficiencies. Alongside, the intense market competition, stringent regulatory norms, and growing compliance pressures are making it much harder for life insurance companies to keep revenue flowing and stay in the game.

The need of the hour for carriers is to embrace faster and more efficient business practices and advanced technologies that not only accelerate the insurance application processes but also eliminate redundancy and reduce operational costs. This is where automation plays its part; it streamlines the repetitive mundane tasks, clears up bottlenecks, enhances risk management, and drives companies toward the next level of growth. Tapping into the immense potential of automation, ApplicInt, a leading information technology company, has developed several innovative, interoperable solutions that can be customized to meet the unique requirements of each client. ApplicInt was founded in 2003 to provide efficient and cost-effective technology solutions for the collection and distribution of information for life insurance applications. Automating the broker’s world not only means digitalizing their offices but, more importantly, streamlining and simplifying the process of obtaining insurance.

“Whether you are an agent, call center representative, consumer, or examiner, our intelligent solutions can be utilized to quickly complete life insurance applications digitally”

To that end, ApplicInt provides alternate ways for agencies to become more efficient. “Whether you are an agent, call center representative, consumer, or paramedical examiner, our intelligent solutions can be utilized to quickly complete life insurance applications digitally,” says Michael Feroah Sr, Founder and Chief Strategy Officer, of ApplicInt. All of ApplicInt’s solutions are designed around automating the entire process of collecting and moving data from the pointof-sale to a carrier, making it easy and fast to issue policies. Since its inception, the firm has worked with a growing list of carriers, brokers, third-party administrators (TPAs), paramedical companies, and banks to increase revenue and dramatically reduce the cost of acquiring new customers for life, health, and disability insurance; annuity; and mutual fund products.

Faster Policy Decisions at No Additional Costs

While segments of the insurance application process are automated today, most of them are yet to be fully digitalized. ApplicInt is the first company to provide a fully digital, end-to-end process for all types of insurance. ApplicInt’s end-to-end digital technology can connect all software solutions—regardless of the software provider—into a unified solution that can process all types of life insurance products. ApplicInt’s solutions can be used by insurance examiners, call centers, and even consumers to address information collection and consolidation problems. In other words, ApplicInt’s software includes a consumer-direct solution; consumers can fill out the insurance application on their own instead of relying on a third-party. “The key to dealing with challenges in today’s business landscape is flexibility. ApplicInt’s solutions are designed to work the way you do; their flexible workflow and easy configuration allow carriers to quickly adapt to changing market conditions and seamlessly integrate into any software solution or process,” informs Feroah.

ApplicInt has a complete suite of insurance application fulfillment solutions. ExpressComplete serves as an easyto-use multi-carrier quoting and drop ticket platform that guides and directs a user or agent in filling the insurance application order and cuts down on the processing time. ExpressComplete has integrated ticketing capabilities such as health analyzer (which confirms the underwriting rate class), call scheduling (passes an order to the carrier call center), and real-time exam scheduling. The software comes with single sign-on, and helps connect producers (individual agents) to fulfillment centers. Agents can keep track of their applications and pending status via ExpressComplete. It also helps guide reps through the process of accurately filling the carrierspecific short application form and electronically submitting it to the designated fulfillment center.

CallComplete, on the other hand, is a web-based flexible application fulfillment platform that snaps easily into any carrier’s call center and can be used by distributors and third-party call centers to gather medical as well as nonmedical information. The CallComplete solution has scripted reflexive interview questions (Part A/B) that ensure cases are 100 percent in good order. CallComplete can also be used remotely as a fulfillment process for ExpressComplete term ticket and any other platform. Forms, including unique special authorizations—required for over 25 percent of attending physician statement (APS) records—are signed with voice or eSignature. A distinctive aspect of CallComplete is the fact that it can also be combined with ApplicInt’s digital paramed platform, ExamComplete, to provide a seamless end-to-end application process. “We developed all of our solutions as a response to the increased complexity of the insurance sales and underwriting process. We achieved our ultimate goal to automate the information collection process for insurance agencies, carriers, brokers, and other stakeholders involved,” mentions Feroah.

Eliminating the “Not In Good Order” Problem

ApplicInt’s ExamComplete can be deployed in multiple paramedical service providers’ systems and call centers. Through the software, ApplicInt enables insurance carriers to accurately collect information during the paramedical exam via a reflexive interview. “We have also automated the process of ordering copies of attending physician statements (APS), which are medical records from doctors and hospitals. ExamComplete is the only platform that facilitates the examiner to obtain the digital special authorizations that has proven to reduce cycle time attributed to APS health record acquisition,” adds Feroah. In fact, ExamComplete is the leading digital paramed platform used by the top lab facilities and paramedical vendors in the industry, like APPS Paramedical Services, ExamOne, and Clinical Reference Laboratory (CRL). ApplicInt also developed end-to-end digital application solutions where the software could qualify the proposed insured in real-time.

ApplicInt Flow 7-23-2020

Providing the customer with the tools to complete some or all of the application on their schedule has been a goal of the life industry for years. With the recent launch of UComplete that flexibility is now a reality

More recently, ApplicInt incorporated electronic lab slips into ExamComplete and introduced a consumer facing solution (UComplete) that allows consumers with the resilience to complete the application package online on their own schedule. Alongside, the firm also integrated pharmaceutical prescription historical data into the data collection processes and introduced Exam-2-CallComplete, a new module that enables an insurance examiner that failed to complete the exam in the field to revert the application process to a call center for fulfillment . “Earlier, it was just a matter of automating and digitalizing the parts of the insurance industry that were paper-based. We have expanded our core information collection processes to provide more flexible data collection solutions, better information with integrated Rx history, and eliminate the black holes of information collection by integrating automatic APS ordering (attending physician statements) and reducing the time taken for special authorizations,” stated Feroah.

“ApplicInt’s solutions are designed to work the way you do; their flexible workflow and easy configuration allow carriers to quickly adapt to changing marketing conditions and seamlessly integrate into any software solution or process”

Dedicated to Continuous Innovation

It is not just ApplicInt’s ability to deliver innovative, customer-focused technologies and solutions that have helped the company attain exponential success; it is their approach toward solving consumer and business needs that set them apart in the marketplace. ApplicInt is an accessible, service-driven, software provider that keeps its development costs in order to create an environment that makes innovation easier and less expensive while maintaining high quality. The firm works in partnership with each of its clients and focuses on building successful, long-lasting relationships. “We find different ways to automate the insurance application process and make it much more efficient and less expensive. The cost to deploy an ApplicInt solution has a nominal fee compared to our competitors and we generate revenue by charging a modest transaction fee,” says Feroah. ApplicInt’s result-oriented staff interacts with each customer from beginning to end of a project and continues to own the relationship. “Our team’s engagement and commitment to constantly inquiring and learning the ongoing needs of our customers is key to our growth and success. We listen, we work together, we create solutions,” cites Feroah.

The Way Forward: Adapting to Change

ApplicInt is always in pursuit of providing better solutions and being better partners to its clients. For the road ahead, ApplicInt is looking forward to expanding into the emerging market where a paramedical exam is not required. In parallel, the firm is also working on new extensions for its software with additional capabilities. This includes incorporating pharmaceutical data from information sources like the Medical Information Bureau (MIB) on the front-end to allow carriers to speed up the application process even more, and essentially, in the long run, make the agencies and agents a lot more profitable. Currently, the firm works with over 40 carriers and we are growing our customer base. “We are well-positioned for continued growth. Our goal is to expand our core products and technology and continue to make the insurance application process easier and more efficient,” expresses Feroah. As digital technologies continue to disrupt the insurance sector, the industry will have to move from its current ‘reactive’ mode to ‘predict and prevent’ mode. And, this evolution will have to be at a faster pace than before as the stakeholders in the insurance value chain (like brokers, consumers, financial intermediaries, carriers, and suppliers) become more adept at using advanced technologies. With the right tools and approach, such as those offered by ApplicInt, carriers and distribution can thrive in these changing times.

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By Pamela Morgan

In$urance CIO Outlook Magazine

NOVEMBER – 25 -2020 ISSN 2644-2795

https://www.insuranceciooutlook.com/

iPipeline’s WELIS Systems Wins 2020 XCelent Award for Depth of Customer Service for Ascent Illustration System

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WELIS Excels in Customer Satisfaction Above All Other Illustration System Providers

Exton, PA (December 2, 2020) – iPipeline® – a leading provider of low code cloud-based software solutions for the life insurance and financial services industry – today announced recently acquired WELIS Systems has won the 2020 XCelent Award for Depth of Customer Service. The award is given to a company for outstanding performance in implementation and post-implementation services, training, the quality of user conferences, service-level agreement (SLA) scope and features, and mechanisms to obtain and service customer tickets. WELIS is long considered to be an industry leader in Illustration systems for the U.S. life insurance industry. The acquisition of WELIS positions iPipeline as one of the largest providers of illustrations in North America.

The WELIS Ascent® Illustration System is designed to help insurers sell and service customers in a multi-channel distribution environment. The multi-time, award-winning software is constructed as a standard single life illustration system that can be transformed into a sophisticated multiple life/multiple plan system with a single button click.

“Happy customers are what customer service is all about, and the WELIS team delivers services at a level not easily emulated by others within the Illustration System industry. Stephen Frederick and his team are a unique breed with an intense focus on excellence,” said Larry Berran, CEO, iPipeline. “Celent’s awards are highly coveted within the life insurance industry, and I am thrilled to see WELIS setting the bar for depth of customer service within our industry. Our focus will remain fixed on maintaining exceptional customer satisfaction.”

“Celent’s framework for evaluating vendors is called the ‘Celent ABCD Vendor View.’ Our standard representation of a vendor marketplace is designed to show our industry readers at a glance the relative positions of each vendor in four categories: Advanced Technology, Breadth of Functionality, Customer Base, and Depth of Customer Service,” said Karen Monks, Senior Analyst, Celent. “In the category of Depth of Customer Service, WELIS emerged as the clear winner based on customer evaluations. We congratulate Stephen and his team on a job well done.”

“Our customers are viewed as family at WELIS. Our team’s accessibility for them is second to none, and we understand the critical role Ascent plays in their agents’ abilities to attract and secure customers,” said Stephen Frederick, Senior Advisor, iPipeline. “We are honored to receive this award and committed to maintaining the same level of performance for our customers in the future.”

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Ascent will be integrated into iPipeline’s low code, SSG Digital® Platform to enable agents and advisors to quickly run real-time scenario-based illustrations, save them, and send them to customers for review and e-Signature through the PAS+® (Policy Administration System Plus) agent portal. Agents and advisors will also be able to run an illustration and include it during the e-App process to collect e-Signatures, reducing cycle times and improving iGO® e-App processing rates.

To learn how you can implement iPipeline’s innovative solutions to automate how your products are marketed, sold, and processed, contact sales@ipipeline.com or call 1-800-758-0824, option 2.

###

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

illustrate inc launches OPUS™ Mobile, a quoting and illustrations app for life insurance carriers

Toronto, ON, November 23, 2020 – illustrate inc, a point-of-sale software solutions provider for the North American Life Insurance industry, announced today the launch of OPUS™ Mobile, a downloadable quoting and illustrations app created for Carriers, which will dramatically improve the agent and client experience.

OPUS™ Mobile is a powerful sales tool for agents that enables them to provide quotes, illustrations and reports to clients, quickly and easily, on the spot, through their mobile phone. As with illustrate inc’s entire solution set, OPUS™ Mobile is built to be configurable and customizable to the individual needs of specific insurance carriers. It can be used in conjunction with illustrate inc’s other digital solutions, separately, or can integrate with other 3rd party systems and information providers.

Watch The Video to Learn More

“Life Insurance agents and clients are continuously pressed for time. OPUS™ Mobile enables them to respond to consumer expectations where they can deliver complicated information, easier and faster, to facilitate an informed decision,” says Lyndon Edwards, President of illustrate inc. “We’re thrilled to offer this powerful new sales tool to help agents increase the speed at which they can provide quotes and illustrations to prospective clients, and ultimately close more accounts to achieve their growth targets.”

illustrate inc is dedicated to helping insurance carriers evolve their organizations to better serve their agents, and current and prospective clients. OPUS™ Mobile is the latest in a line of solutions that aims to deliver state-of-the art tools that facilitate a highly productive, informed and efficient sales process.

Learn more at illustrateinc.com or contact us at info@illustrateinc.com.

About illustrate inc

Established in 1989, with offices in Toronto and Kansas City, illustrate inc has been building and delivering powerful and innovative web based POS software solutions – including quoting, illustrations, and eApps – for the North American Life Insurance industry, enabling carriers of any size to embark on, extend, or enhance their Digital Transformation.

For additional information contact:

Anastasia Sudetic

Marketing Manager

illustrate inc

anastasia.sudetic@illustrateinc.com

416-890-8147

The Future of Automation in Life Insurance

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The Future of Automation in Life Insurance

There are really four areas of technological revolution happening together and at once to reshape the industry: automation, artificial intelligence (AI), big data, and cloud. Combined and intertwined, they mark the current disruption that shapes any discussion on the future in life insurance

Cloud computing has been around since the 1960s, though only adopted for mainstream use in the last twenty years. Widespread cloud acceptance means uninterrupted access to data. If you think about it, this mirrors the same timeline for many types of records and databases. Twenty years ago, most medical records were not even electronic; the big push was to get industry-wide acceptance of electronic medical records by 2014. Constant access is a new phenomenon.

Big data means we have more complex data sets from new places. More connected devices in the world means more data. Think of late generation devices and the data they collect: exercise wearables, fitness apps, smart TVs, smart vehicles, and even surgically implanted medical devices collect information about you. The implications for the insurance industry are undeniably massive. Insurance companies will be able to leverage data assets for strategic decision making, sometimes in real time. Constant access to next-level data offers insurers new insights into risk mitigation, and new avenues to recognize and seize opportunities.

Such opportunities may be just in time to address generational challenges. Millennials have shown a general unwillingness to buy life insurance. Not only that, but they are less likely to join the insurance workforce. Millennials prefer the more lucrative tech-jobs.

Part of the reason why is that legacy industry entry-level jobs had long been filled with mundane, repetitive, routine-type tasks – the very same jobs that are being replaced by a combination of AI and automation. Underwriting is a perfect example. The job has traditionally required repetitive, time-consuming, manual processes that once provided a small army of young professionals with industry experience. Underwriting was a paperwork-laden task. Today, the desire for fast decisions combined with 24/7 access to increased data sources means the role can be performed electronically and instantly. It’s not uncommon for the technology firms that service insurers to process 19 out of 20 insurance applications immediately and without any human intervention.

Digital transformation across the industry has delivered business agility but transforming has been more about survival. 44% of policyholders surveyed in 2019 stated they would change carriers if they couldn’t access and service their account electronically.

The future of life insurance involves a heavy dosage of the same four ingredients: automation, AI, big data, and cloud working together to provide new growth opportunities with the same old-world concept of security. Look for more data, increased reliability, and immediate decisions made with less human intervention.

Ushering the industry into tomorrow are technology and automation firms like Management Research Services (MRS). MRS helps carriers streamline their application system with their no-code platform. Underwriting decisions can be made in just moments and at the point of sale. With voice and electronic signature capability, the MRS system allows for a time-to-issue of just a few minutes. For carriers seeking a technology partner that provides AI-based automated insurance services and solutions, learn more at www.managementresearchservices.com.

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

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.

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.

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.

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.

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.

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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