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

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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.

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“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.”

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“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.

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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.

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

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iPipeline’s platform is used by approximately 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.

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

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

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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.

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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.

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“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.”

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“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.”

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“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.

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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.

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

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iPipeline’s platform is used by approximately 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.

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

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

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

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

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

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

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

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

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

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

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About iPipeline

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

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

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

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

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

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

What Is The Latest Technical Jargon For Life Insurtech Point-Of-Sale And Underwriting Solutions?

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Published in BrokerWorld Magazine November 2020

By Ken Leibow

 

Have you started reading a book and then come across a word that you do not know the meaning of like, for example, “patulous?” It can be frustrating to look it up and, in some cases, you still may not grasp the full meaning. Software vendors today are marketing their solutions using words like “API,” “No Code,” “Low Code,” and “AI.” You are not exactly sure what they mean especially for life insurance technology. My objective is to help you not only understand the definition of these terms, but also understand how they are being applied to the life insurance point-of-sale tools and underwriting solutions used today by carriers, agencies and agents.

 

API
An acronym you often hear these days in the technology world is “API.” This stands for Application Programming Interface, which is a software intermediary that allows two applications to talk to each other. Have you ever used PayPal to pay for something you are purchasing online directly within an eCommerce store like BestBuy.com? After you add your item to the virtual shopping cart and go to check-out, you see a payment option button for PayPal. When the user clicks the “Pay with PayPal” button, the application sends an “order” request to the PayPal API, specifying the amount owed and other important details. Then, a pop-up authenticates the user and confirms their purchase. Finally, if the PayPal process is successful, the API sends confirmation of payment back to the application thereby finalizing the payment of the purchased item. In the life insurance world, there are many examples of an API being utilized. If you are a BGA using an agency management system (AMS) to process new business life cases, you may see functionality that allows you to schedule an exam or order other requirements from a paramed vendor like ExamOne. The agency management system is using an API from the paramed vendor to facilitate the requirement order. It is seamless to the user, while the API is doing the work behind the scenes to execute the requirement order.

 

“Low Code” and “No Code”
Two other popular terms you see today are “Low Code” and “No Code.” I am going to give you the most common business definition as it is being marketed for insurtech applications. Let’s start with “No Code”: A good example in life insurance technology is a “No Code” life insurance eApp platform. When a carrier adds its products to an eApp platform, there are three critical items that need to be setup:

  •  Life insurance product rules;
  • Questions asked to complete the life insurance application; and,
  • Mapping the data to all the State-specific forms.

 

When eApp was first developed decades ago, setting up the three items above required a software developer to program code, then extensive quality assurance testing had to be done, and finally you had to wait for a major release before the carrier’s products were in production ready for agents to submit life business on the eApp platform. This typically was a long process to set up. As the years went by, less programming (hard-coded) was required because of the configuration tools that were developed to help make changes to the software application. Now fast forward to 2020. A No-Code eApp platform means that setting up the life insurance product rules, the questions, and the forms, is completely self-service and does not even need to be administered by a technical person. So, when you see software advertised as “No Code” it usually means you can set it up and configure it on your own.

 

Low Code is a visual approach to software development. Low Code abstracts and automates every step of the application lifecycle to enable rapid delivery of a variety of software solutions. It breaks the traditional silos of business and IT to promote continuous collaboration. When a software vendor is enhancing their system with new functionality instead of programming raw code, they use a graphic interface drawing workflow and moving objects around. If you are buying software from a vendor who is advertising Low Code, then it simply means speed and ease in releasing enhancements, fixes, and new functionality. In life Insurtech today you will see Low Code for eApp, eDelivery, and Underwriting Workbenches for carriers just to name a few types of Low-Code platforms that are available.

 

AI
Artificial Intelligence (AI) is sprayed everywhere in vendor solutions and processes. There are an enormous amount of ways that AI is being used in our everyday lives. The obvious example is Alexa from Amazon or Siri from Apple. You can ask Siri to play a specific song, or turn on the lights in your house, or schedule a calendar appointment. But it can do more sophisticated tasks like knowing where you are with your GPS and telling you that you will be late for your appointment because your location is too far away for example. Artificial intelligence is based on the principle that human intelligence can be defined in a way that a machine can easily mimic and execute tasks, from the simplest to those that are even more complex. The goals of artificial intelligence include learning, reasoning, and perception. AI programs require training—meaning the more data you feed it, the more intelligent it becomes. When we see AI being mentioned in the life insurance new business process or in insurtech applications, what do they really mean? A great example is eNoah’s eXtract Plus solution. It uses AI to take a 200 page Attending Physician Statement (APS) and make it a searchable document (extracting vitals, medications and key information) for a life underwriter. eXtract Plus can also render medical records and lab documents with hyperlinks and cover pages. This information can be utilized to create APS summaries or validate that APS summaries are complete and accurate.

 

Point-of-Sale and Underwriting Solutions
iPipeline offers a transformational Resonant® Point-of-Sale (POS) decision solution that makes the customer experience quick and easy—like buying auto insurance. This enables a carrier and distributor to sell profitable life insurance protection to middle market consumers. Unlike today’s traditional process of quoting teaser rates only to find out the final premium after underwriting, Resonant POS decisioning changes the dynamic so that underwriting is completed at the point of sale. Answers to medical questions are combined with data received from industry leading evidence and predictive model vendors to provide instant decisions with the final premium needed to complete the sale in one sitting. Resonant integrates with iPipeline’s Quote, iGO® e-Application, and DocFast® e-Delivery automated solutions to manage and control the entire underwriting and new business process from simplified issue to fully underwritten complex cases and other lines of business.

 

Management Research Services, Inc. (MRS) has developed new tools on its no-code sales and new business platform that focus on increasing the speed of issuing insurance policies. MRS has enhanced APS retrieval by integrating with electronic health record (EHR) data partners. Working with the insurance carrier, MRS will integrate an EHR to make an automated decision and issue the insurance policy at the point of sale (similar to how a Rx or MIB integration is used). Additionally, MRS is reimaging the case management and underwriter workbench by providing better tools for the insurance carrier to order requirements. This means that instead of reactively ordering requirements that may add days/weeks to the issuance timeline, the insurance carrier can use MRS’s highly configurable rules engine to write rules that will anticipate ordering requirements needed during the point-of-sale process. This will provide busy underwriters with all the information needed to review and issue the policy, resulting in a much faster and more efficient issuance.

 

The two solution providers mentioned above are leveraging these technologies (APIs, No Code, Low Code, and/or AI) in their platforms that carriers, agencies and agents use every day. You can see this is much more than connecting systems, it is an integrated process. The value of the entire new business flow, from applying for life insurance to passing into the carrier fulfillment process, is seamless, intelligent, and fast because of these underlying technologies. Each new innovative deployment helps agents provide a better experience for their customers and, as a result, place more business.

 

 

Agent Tools For Prospecting, eRetail Sales And Applying For Insurance

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InsuranceNewsNet

Published in InsuranceNewsNet Magazine written by Ken Leibow

 

Life Insurance professionals need to leverage technology to engage with existing and prospective clients directly or indirectly.  Growing sales and placing more business today requires consumer-facing insurance tools, and the integration of agent sales tools with quoting and electronic applications (eApp). There are new technology sales solutions for agents to use and new models like eRetail selling and social media marketing. However, an agent’s sales and marketing technology foundation must begin with subscribing online to a customer relationship management system.

 

CRM For Agents

The power of a customer relationship management (CRM) tool serves as the backbone to your practice. Your success depends on making your clients better off so that they place a high value on your services. And to do that, you need to understand their finances and needs better than they do. You can gain that understanding with an intelligent technology CRM solution that helps you analyze, serve and communicate with your clients in the most efficient way possible. There are many benefits to a CRM for an insurance agent or advisor, starting with contact management. You can store comprehensive contact information, demographic data and notes about your clients. You can keep track of their financial goals and personal and professional milestones.

 

The work involved in prospecting and the cost of customer acquisition requires you to maximize every contact. A CRM also helps you manage your calendar and drive your day with extensive task and appointment management features. You can record outcomes to activities, create follow-ups, and receive text or e-mail reminders. Most CRMs offer reports out of the box and custom reporting capabilities. You can mine your client data for marketing and upsell and cross-sell opportunities. Generate clear, attractive reports for your clients to help them understand their finances. CRMs are known for their sales leads and opportunity-tracking capabilities for prospecting. You can create multistage opportunity processes to help you systematically identify, contact and follow up with prospects. Link opportunities with marketing campaigns to gauge the effectiveness of your marketing efforts. Sales tracking is also an important feature. Most CRMs today have a dashboard as soon as you log in that shows your sales metrics, appointments and follow-ups, with graphics and easy navigation for your day-to-day interactions with your clients. There are mobile app versions of CRMs or browser optimized for your smartphone or tablet for when you are mobile.

 

The difference between a business agnostic CRM like Salesforce and Microsoft Dynamics 365 compared with a CRM already set up for life insurance agents and financial advisors such as Ebix SmartOffice and AgencyBloc is policy and investment tracking. You also want to exchange data easily and automatically with your CRM and other trading partners in the life insurance sales process. There are models where a CRM may be available by your upline general agency, in which they can feed your CRM pending case status on your submitted business. Some CRMs are set up to receive data from carriers and broker-dealers, in which you can get data imported into your CRM on in-force information on placed policies and investments. Another benefit of data exchange with your CRM is to integrate it with life insurance quoting and illustration systems as well as pre-populating your client information with an eApp platform for applying and submitting business. This reduces the amount of data entry and provides tracking information on proposals and submitted business. Vendors such as iPipeline offer these types of integrations like with iPipeline’s LifePipe term insurance comparison quoting tool and its iGO eApp platform.

 

eRetail Tools For Agents

There is a new trend in the industry where quoting and eApp are offered by agents for consumers to use. These consumer-facing tools are not for a carrier direct-to-consumer sales model, but a way to market insurance products online and in social media while still maintaining the agent ecosystem. It frees up agents to focus on sales and marketing. Prospective customers can buy insurance anytime 24/7, and you get paid your commission. Millennials, for example, who are or are soon to be the biggest insurance-buying target market, prefer self-service purchasing but still want the agent available for expertise as needed.

 

For example, BackNine insurance agency offers agents consumer-facing tools for an agent’s website called “Quote & Apply,” where the consumer can run a multi-carrier term insurance quote from top carriers such as Protective Life, American General and Banner Life on simplified term insurance. The client then chooses a carrier, completes a simple questionnaire, schedules an exam and e-signs. This works on a laptop or mobile device. The agent’s contact information, or even in some cases a chat feature, is available for assisting the client as needed. Another example is Nimbus Insurance “Click-To-Buy.” Nimbus is an agency that offers some alternative insurance products like term insurance (up to $1 million without an exam), final expense guarantee issue, AD&D and HMA insurance from top carriers. The agent gets a unique URL that they can market in social media such as Facebook and Google. In both agencies, once the agent gets contracted and appointed, the software is free for them to use. As clients submit and pay for business in the self-service quoting and eApp insurance tools, the agent gets paid their commission. You, as an agent, are acting as an eRetailer of insurance.

 

Hybrid Agent To Customer Self-Service

There is another new model that is being offered by life carriers to independent agents. For example, ApplicInt is a vendor that has a quoting and eApp platform called U*Complete. The agent will run a multi-carrier quote, and then select the carrier and complete a drop ticket. The agent then emails a link to the client. The customer is securely authenticated when they click on the link. The customer then completes the rest of Part A of the life insurance application, and Part B with medical questions is optional. The next step is e-signing the forms. Live chat with a call center is available for assistance. There is a warm transfer to the call center. An exam will be scheduled if needed. The forms and the data are then automatically sent to the carrier. The U*Complete software is offered by the carrier and free for the agent to use.

 

With COVID-19, remote-selling life insurance is critical. There is an acceleration of consumer-facing sales technology solutions for remotely prospecting and engaging with customers from a sales and marketing perspective to applying for insurance. Using a CRM to track and manage your prospects and clients is where you must begin as an agent. You should then partner with general agencies and carriers that offer tools to help you engage directly or indirectly with consumers for marketing, quoting and applying for insurance.

 

iPipeline Expands Product Management Group with Appointment of Industry Veteran Roy Goodart

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Focus Will Be on Advancement of iPipeline’s SSG Digital Platform for Brokers and Advisors, Direct Writers and the Direct-to-Consumer Digital Experience

 

EXTON, PA (August 4, 2020) – iPipeline®, a leading provider of cloud-based software solutions for the life insurance and financial services industry, today announced the appointment of Roy Goodart as VP of Product Management. A 20-year veteran with a record of success in managing SaaS and business process automation platforms for the life insurance and financial services industry, Goodart comes to iPipeline from Paperless Solutions Group, where he served as Chief of Product and Customer Success. In his new role at iPipeline, he will be responsible for implementing his vision for the enhancement of the SSG Digital® Platform and Direct-to-Consumer (DTC) solutions, as well as executing the company’s overall product strategy to fulfill customers’ digital initiatives.

 

“We have been re-thinking our approach to our solutions given the impact of the COVID pandemic. As part of our initiative to accelerate the pace of digital transformation we have decided to add multiple additional senior leaders and top talent to our Product organization. We are happy to welcome Roy Goodart back to iPipeline to drive a seamless digital experience for consumers, agents, and advisors.” said Larry Berran, CEO, iPipeline. “We are looking to double down on our investment in this space and Roy has a track record of producing innovative, easy-to-use products that meet the immediate needs of our industry. Given the likelihood that more business will be transacted remotely, one of his strategic initiatives will be the continued development of comprehensive, next-gen direct-to-consumer (DTC) solutions, including DTC offerings enabled by advisors and brokers. Roy is no stranger to anyone in our industry, and we are pleased to have him onboard at iPipeline to drive our innovation.”

 

“iPipeline is in a unique position to deliver incredible value to an industry greatly in need of fulfilling their digital transformation imperative. The new challenges emerging from COVID-19 are going to be with us for the foreseeable future. There is no better way to overcome remote engagement obstacles than by using an integrated platform designed for agents, advisors, and consumers,” said Roy Goodart, VP of Product Management, iPipeline. “My immediate focus will be on advancing the SSG Digital platform, integrating new products, and delivering on the next installment of a DTC solution to power sales and meet consumer expectations.”

 

Prior to Goodart’s role at Paperless Solutions Group, he held key executive positions at Prospect9, Aplifi, AgencyWorks, and InsureSocket. He earned a Bachelor of Science Degree in Marketing at Westminster College, and a Master of Business Administration Degree from University of Phoenix.

 

For assistance in reimagining how your organization does business in the COVID-19 environment and to achieve a competitive digital advantage, contact sales@ipipeline.com or call 1-800-758-0824, option 2.

 

About iPipeline

iPipeline is a leading provider of 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 Bromley (UK), Burlington (Canada), Cheltenham (UK), Dallas, Fort Lauderdale, Huntersville, Ontario (CA), Philadelphia, Pleasanton, and Salt Lake City. Visit www.ipipeline.com.

 

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For iPipeline:

Lisa Shea

Marketing

lshea@ipipeline.com

484 870 6234

Solving Unique Pain Points For Life Insurance New Business And Underwriting

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By Ken Leibow

Published: August Broker World Magazine

 

There are a lot of changes happening in the life insurance industry because of COVID-19—market environment, types of insurance products, processes, and technology. As these changes are evolving, there are unique challenges impacting new business and underwriting. I want to show you some innovative solutions solving these pain points.

 

Life Carriers Need Predictive Underwriting in the COVID-19 World
In a perfect world insurance companies are changing their strategy in a void, a company changes pricing while the industry is static and the company can evaluate the impact on the policyholders and the profitability of the company over time. Due to new regulations, principle-based reserving (PBR) and a new standard mortality table, the 2017 Commissioners Standard Ordinary (CSO) Table, and now due to COVID-19, companies are changing pricing while the rest of the industry is also changing pricing. To be able to trace the impact of a change, to simulate strategies and make decisions quickly, companies must have reliable data and predictive technology (such as Artificial Intelligence and Machine Learning) to evaluate the impact in real time.

 

Companies are building complex products, and sophisticated underwriting protocols and benefit programs, to attract specific distributors, producers and customers or specific market segments or specific risks. Being able to simulate what-if scenarios and build strategies based on data allows companies to be more scientific and therefore generate better results. COVID-19 disrupted the way insurance companies onboard a policy, there is a move to eApp, underwriting is done remotely, the ability to take liquids has decreased. Companies that can predict the probability a policy will be placed and what would be the biggest driver to improve placement probability can help companies optimize their operation, reduce waste, and improve consumer satisfaction with the process.

 

iPipeline,® a leading provider of cloud-based software solutions for the life insurance and financial services industry, has integrated its InsureSight Case Analytics Platform with Atidot’s Predictive Analytics Models to analyze the impact of product and pricing changes based on prior sales performance and industry data. The ability to predict future performance based on product selection, producer group, producer, location, demographic and other critical factors, will enable life carriers to adjust product, pricing, or distribution strategy dynamically to optimize market penetration.

 

Transform Paper Apps into Digitized In-Good-Order Applications
In an ideal world we all want our agents to use eApp for submitting life insurance applications instead of paper so that they are submitted in-good-order, processed quicker, and automated as much as possible without having to manually handle the case. There are times when agents will paper-out of an eApp for various reasons or send paper apps to a BGA sending it down that NIGO, slow, expensive path. But now there is a solution to get the app back on track on the data highway. PaperClip, Inc., has a platform called Mojo. This is an innovative cloud-based service that digitizes the life insurance paper application from handwritten or typed text with 99.9 percent accuracy transforming it to data and data transactions.

 

Let’s say, for example, an agent sends a handwritten paper application to the BGA. The BGA then scans the paper application into Mojo, securely transforming the application into data. The BGA can use Mojo for several purposes. Mojo can send data to the agency management system (AMS) to auto-create the case. At the same time, Mojo can file the documents into the BGA’s document management system like PaperClip’s VCF System. And the application data transformed by Mojo can be sent to an eApp platform automatically to get it back on track and in good order. iPipeline has partnered with PaperClip whereby Mojo is seamlessly integrated into iGO eApp. iPipeline calls the integrated solution iGO Link. If the agent had papered-out of iGO, they still would have the opportunity from the BGA’s website to access iGO Link and get it back on track into the eApp process.

 

BGA’s can Reign in the Costs and Turn Around Times for Informals
Informal underwriting has not kept pace with the advances in formal underwriting. For decades there have been two forms of informal underwriting practiced by agents and agencies. One way, all the collection of health information is collected by the agency before formally presenting a prospect to carriers. When an agency does not have the resources of a support team nor a strong, cooperative relationship with the prospect, an agency will use a victim carrier’s formal underwriting to prequalify a prospect. With this second way, an agent’s investment may only be to find the carrier with the lowest Super Preferred rate, get a ticket app and let the carrier, the agency and the prospect do all the work until the carrier can come back with an offer. Often this offer is not Super Preferred and underwriting and selling starts from here.

 

Both processes are expensive and disruptive. Employee Pooling (EP) has a better solution. They can eliminate weeks of physical and emotional toll on all parties. EP’s accelerated informal platform uses data technology and human capital to give distributors on-demand access to the tools traditionally reserved for insurance companies. Tom Gray, CEO of Employee Pooling, said, “I have been on the distribution side of this industry for 30 years. This is how it has been. I have been determined to obtain solid underwriting data to use to get a meaningful tentative offer that can be counted on and reign in the costs and turn-around time. Our platform can find rich medical data, have it assessed by technology and our medical team and deliver an underwritable package, often within 24 hours. This way, the EP way, gives the agency the tools to put a summarized case up for bid and find the right carrier able to offer a premium that can be placed. The rest is a formality.”

 

eApp and Auto-Underwriting using an Omni-channel Sales Model
Life Insurance is still sold and not bought, however instant issue or simplified issue products can be quoted and applications electronically submitted through a consumer facing solution. This is not a carrier direct-to-consumer model because we are maintaining the agent ecosystem for the purpose of having the agent available for questions and for upselling and cross selling. There is a trend with several vendors today providing these eApp/Sales tools for agents and agencies. Management Research Services (MRS) has a unique platform that is No-Code, fully configurable electronic application platform. It can streamline requirement gathering during the application process, gathering data in the background (in real time) to reduce time with the applicant and provide an instant underwriting decision. Utilize the omni-channel approach to customize your sale, whether in an e-app, tele-app, or both. MRS’ seamless case management provides transparency for your agency and agents so they know where every applicant stands in the process.
COVID-19 and the unstable economy, with service providers who may or may not be in business tomorrow, it is time for BGAs and IMOs to take more control of their business by adding a call center to their agencies. Some of the benefits include increased customer satisfaction, higher conversion rate in completing submitted applications, and higher placement ratio. You also get an automated drop ticket experience that you control. A BGA who changes their model by adding a call center will get more efficiency and reduced costs in agent recruitment, freeing up specialists to focus on handling calls that utilize their expertise. There is consistent service when adding a call center which results in overall improved call quality.

 

BGAs and IMOs Can Take More Control of their Business by Adding a Call Center

A BGA will need a software solution that can seamlessly automate the drop ticket fulfillment process for the call center. ApplicInt’s CallComplete software is an end-to-end digital platform for a call center, already plugged into the carrier’s fulfillment process for completing the app with a client interview for term life drop tickets. CallComplete allows you to take control of the drop ticket process and better service your agents, automatically receiving the drop ticket from the eApp platform and then the carrier’s script, process, and voice signature are all integrated into CallComplete for either scheduling the exam or automatically ordering RX, MIB and MVR for an accelerating underwriting process.

 

Features of a Call Center for a BGA and IMO:

  • Real time assistance for the agent to help complete the drop ticket;
  • Warm transfer agent to client;
  • Call center can initiate the interview without a drop ticket;
  • Agent recruitment (prospecting);
  • Promoting new products and services, then handing over or scheduling to a specialist;
  • Front line to support agents for high level questions; and,
  • Agent pre-script before the carrier compliant interview and post-script cross-selling and agent referrals.

 

Yes, the digital sales model, whether agent-facing or consumer-facing, is being pushed in a direction requiring flexible, easy to use new business eApp tools with products and underwriting that can automatically make an underwriting decision when possible. This is driven by new market conditions like COVID-19 and Millennials. Whenever there is a break in the process there needs to be a doorway to get it back on track. These solutions enable life carriers, BGAs and agents to reduce their operational costs and become more efficient focusing on growing sales.

Jena Kennedy of LexisNexis on Security and Authentication – iPipeline Pipecast

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Consumer security protocols can be daunting, confusing and even downright frustrating. Even the terminology can be bewildering – what’s the difference between verification and authentication? And what is Identity Access Management and why does it matter?

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Credential stuffing, account takeovers, rat attacks, bots, mules, synthetic identity fraud … it seems that the fraudsters continually evolve their tactics. In this post data-breach world, consumers need to be extra vigilant, just as life carriers do.

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In this highly informative podcast, Rich Grisham, AVP of Sales and Operations at iPipeline chats with Jena Kennedy, Director for the Life Vertical at LexisNexis Risk Solutions. Jena and Rich share their perspectives on how life carriers can protect their businesses and their customers in this dynamic marketplace.  How can they be sure that they are not only dealing with a real person, but also ensuring that the individual is who they say they are? How can carriers strike the balance between fighting fraud and still providing a great customer experience?