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).

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Direct to Consumer Life Insurance Electronic Application software solution.
Direct to Consumer Life Insurance Electronic Application software solution.

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“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.”

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“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.”

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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.

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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.”

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About ApplicInt

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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.

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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

Celent research ranks Equisoft’s illustration software among the best solutions in North America

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Equisoft’s insurance illustration software is acknowledged by Celent for its advanced technology and breadth of functionality, and for providing “the best experience across all illustration systems”.

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Philadelphia, January 14, 2021 – Equisoft, a leading global provider of digital business solutions for the insurance and wealth industries, proudly announced that its insurance quote and illustration software, Equisoft/illustrate, has been recognized by Celent as one of the top-rated solutions in North America.

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Research and consulting firm Celent analyzed 10 vendor-offered illustration systems available for life, health and annuities product carriers. The findings were published in Celent’s recent report: “Life Insurance Illustration Systems: North American Edition.”

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New Chart ENG

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“A life illustration system is a core piece of the sales process in life insurance,” wrote Celent’s Senior Analyst Karen Monks in the report. “Based on solid overall functionality and recent improvements that we’ve seen, we think that vendor-offered illustration systems can improve a producer’s efficiency at the point of sale and, for the investment, will also deliver significant long-term savings for the insurer.”

.Going beyond table stakes quotes and illustrations

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As highlighted by the report, illustration tools are table stakes for life insurance carriers. Every company has a solution, whether developed in-house or sourced from a vendor, that does the required job -showing potential clients the details of what they are thinking of purchasing.

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“Today’s insurers are looking to gain a competitive edge on any front, whether it’s speed-to-market, offering seamless experiences or product innovation. More and more see an opportunity to elevate illustrations from a cost-of-doing-business tool to a critical platform for promoting insurance products,” said Bruno Leduc, Senior Director, Digital Insurance Solutions at Equisoft. “They want a user-friendly and effective tool that will outdo what their competitors could offer.”

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“Based on customer feedback and Celent’s review of the product, Equisoft/illustrate should be on an insurer’s short list when considering a new illustration system,”​ concluded Karen Monks in the report. “It provides the best experience we saw across all illustration systems this year.”

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Equisoft/illustrate is a class-leading front-end solution for comparing compliant quotes and generating the most compelling illustrations to showcase insurance products. Used by top-tier companies in North America, this next-generation software is a strategic asset for insurers seeking to unlock the full potential of their growth strategy and be at the forefront of the market.

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About Equisoft

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Founded in 1994, Equisoft is a global provider of advanced insurance and wealth digital solutions. Recognized as a valued partner by over 75 of the world’s leading financial institutions in 15 countries, Equisoft offers innovative front-end applications, extensive back-office services and unique data migration expertise. The firm’s flagship products include a SaaS policy administration solution, CRM, financial needs analysis, financial planning, asset allocation, fund and portfolio analysis, quotes and illustrations, electronic application, agency management systems, as well as customer, agent and broker portals. Equisoft is also Oracle’s largest and most experienced integration partner for the OIPA platform. With its business-driven approach, deep industry knowledge, innovative technology, and some 500 experts based in the USA, Canada, Chile, Colombia, South Africa, India and Australia, Equisoft helps its clients tackle any challenge in this era of digital disruption.

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12 Bruno 3

Bruno Leduc

Senior Director, Digital Insurance Solutions

Bruno has over 15 years of experience in life insurance technology. He’s an expert in digital transformation, front end implementations, and user experience.

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

Life Insurance Technology In 2020 Was Driven By Simplicity And Data

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By Ken Leibow

Published in Broker World Magazine January 1, 2021

 

We all had to adapt to change beginning nine months ago with the pandemic. A distributor’s Agency Management System (AMS) must improve its quality of service for agents/advisors, field underwriting (exams) needs to be safe, and turning Inforce data to action is critical for advisors to manage their client’s policies. Here is an inside look on how life insurance solution providers adapted and innovated to these new challenges in 2020.

 

 

Agency Management Systems Essential for Distributors during COVID

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Life insurance distributors in the USA and Canada faced the same challenges during COVID in 2020. I reached out to Equisoft whose Agency Management System (AMS) is the most widely used in Canada for life insurance distributors, and it is also available in the USA. I also met with OneHQ whose modern, easy-to-use CRM/AMS gained momentum in 2020.

 

David Nicolai, vice president, Insurance Solutions at Equisoft explains how back office automation is essential for servicing their advisors, “How do distributors stay relevant in times of accelerated change? That’s a critical question we’ve heard distributors ask so often over the past nine months. The answer, for some, is that it has been difficult—to pivot quickly and execute on a new value proposition that will enhance their ability to attract and retain the best advisors—if they are still running their business with manual, largely paper-based processes. There’s too much drag in the system. Innovation, no matter how creative their thinking is, will be hard to implement. On the other hand, we have clients who went from 100 percent paper-based to almost entirely automated and digital when they implemented the Equisoft/centralize agency management system. That made all the difference. When COVID hit and distributor staff, advisors and clients could no longer meet in person, their transition to the new reality was almost seamless. App processing, advisor communication, inforce services—all continued at pace because they didn’t rely on paper and mail. Clients received the support they needed in difficult times. Advisors appreciated the service and value their distributors were able to provide in helping them continue to meet their clients’ needs.”

 

Meeting with Brett Barker, Senior Account Executive at OneHQ, he provided not only information about their AMS, but client experiences during 2020. Tailored specifically for insurance distribution, OneHQ is an extremely powerful yet easy-to-use system. It’s highly configurable, replacing disjointed systems by bringing the CRM, AMS, and Compensation together plus integrating all other systems into one place. Brett explained, “Our user-friendly interface and personalized modules help give each department a dialed-in system to maximize results. As an example, a OneHQ customer recently made the move from their legacy system to OneHQ because their back office and sales teams had very little communication between systems. Wanting more data visibility for sales and back office efficiencies, the team moved to OneHQ and for the first time in years they had access to all of the information they needed within seconds. In the end, sales activity increased 20 percent and OneHQ’s innovative platform is providing better service to agents by freeing up the back office teams from running reports and answering questions.”

 

With the changes brought about by COVID-19 and more focus on how technology can impact sales internally and for their agents, OneHQ has witnessed a tidal wave of new clients. Their modern technology that focuses on increasing sales without sacrificing service is giving their clients an edge during these rapidly changing times. Brett continued, stating that OneHQ is increasingly seeing more of their clients beginning to offer their agents a full technology strategy starting with the CRM that integrates with their back-office system. In addition, this also makes the IMO much “stickier” with their agents. To sum it all up, Kyle J. Ginavan, CEO, OneHQ, said, “There have always been many good technology options available to insurance agents, but never a full technology strategy. While the securities industry has well-thought-out technology strategies for financial advisors, insurance distribution has typically lagged in this area. However, with COVID, we’re certainly starting to see that change.”

 

 

Exam Safety: Simplifying through Innovation

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Underwriting is key to the life insurance new business process. For term insurance, a drop ticket with an exam still dominates the higher percentage of cases in 2020. Paramed exam companies are the front lines for underwriting. I reached out to Ryan Janeway, founder and CEO of MediPro Direct. Ryan explained that at this stage of the pandemic, protecting field medical teams and applicants requires access, innovation, and adaptation. Said Janeway, “Very few companies are positioned as effectively as MediPro Direct to actually improve customer experience during this crisis. MediPro Direct founded Vanguard Genetics LLC in 2015 to gain access to clinical and genetic testing services that can aid underwriters in policy-making decisions now and into the future. Under the current circumstances, our clinical lab association has provided immediate access to necessary PPE, as well as rapid COVID antigen testing to ensure the safety of our customers and team.”

 

As innovators, the teams at MediPro Direct and Vanguard Genetics helped bring rapid antigen testing to market and are now validating saliva test collection methods to simplify the collection process for these tests. Additionally, their teams have reduced manufacturing costs by up to 70 percent in order to dramatically improve public access to testing—which, combined with the distribution of vaccines, are key to getting customer business and lives back on track. Under proper credentialing, these tests can be used in the office and in the field to help ensure safety during insurance exams, clinical trials, and other medical interactions. MediPro Direct has adapted to the current environment by creating unique tools and processes such as its Tier1 Network™, to increase examiner coverage for carriers, its Quality First™ system to dramatically improve access to real-time quality data for carriers, and its RemoteID™ system for scaling and improving tele-interview processes without the need for fixed call centers.

 

 

Inforce Policy Data Turns to Action

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As the digitization of the life insurance industry persists, the concept of shared visibility of data is becoming more relevant. Shared visibility of information across distribution partners helps to keep carriers, BGAs, and advisors all aligned on what’s working as it should and what areas have room for improvement. When it comes to inforce policy management specifically, that shared visibility is especially important. But timely exchange of information is not enough to satisfy a proactive, compliant, and efficient inforce management strategy.

 

Visibility of inforce data alone is table-stakes. As you continue to seek ways to not only differentiate but also provide more value to your distribution partners, you need a way to make that data and information you share with each other actionable. That’s where a platform like Proformex comes in as the right partner for you and your community. Proformex connects visibility to efficiency, simplicity, and opportunity. By aggregating data and giving everyone access to it—their platform takes that data and provides you with powerful analytics and insights that you and your distribution partners can use to make data-driven decisions that produce real-world outcomes. And there’s no manual burden involved; by automatically surfacing both risks and opportunities to you and your distribution partners, you’ll now have the ability to proactively manage potential problems and seize revenue-generating opportunities. It’s a win for everyone, from carrier to client.

 

Simplifying the life insurance new business experience impacts agents, distributors, carriers and consumers. Mining and analyzing life inforce data and turning it into action creates new sales opportunities for advisors to engage with their clients. COVID obviously accelerated innovation in life insurance technology in 2020. For those solution providers that have adapted and taken on the challenges head on with new innovations, they will have staying power in our industry moving forward in 2021.

 

No-Code – What Does It Mean?

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What does “no-code” mean, anyway?

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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.

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Maybe this will help.

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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.

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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.

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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.

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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%.

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

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Verisk to Acquire Behavioral Data and Intelligence Vendor Jornaya

The acquisition will help insurers and lenders time and tailor interactions with customers and prospects, delivering better experiences and improving customer acquisition and retention

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(Image source: Jornaya.)

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JERSEY CITY, N.J., December 15, 2020 — Verisk (Nasdaq:VRSK), a leading data analytics provider, announced today it has entered into an agreement to acquire Jornaya, a leading provider of consumer behavioral data and intelligence. The acquisition will add Jornaya’s proprietary view of consumer buying journeys to Verisk’s growing set of marketing solutions for the insurance and financial services markets.

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Using advanced marketing techniques, customers in the property/casualty, life insurance, and lending industries rely on Jornaya’s behavioral data, lead compliance intelligence, and other solutions to drive return on investment. With this acquisition, Verisk clients will have the intelligence and agility to time and tailor interactions based on actual in-market behaviors—ensuring engagement with customers and prospects at the right time with a relevant message.

 

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Ross-Shanken-founder-and-CEO-Jornaya

Ross Shanken, Founder and CEO, Jornaya.

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“The rapid growth of competition in insurance and financial services has made it more critical than ever for businesses to help consumers find the products they need with speed and ease,” comments Doug Caccese, president, ISO Personal Lines, Verisk. “Jornaya brings unique insights to consumer buying journeys and the ability to meet the evolving needs of CMOs and marketing teams. Combined with our extensive data assets and deep domain expertise in predictive analytics and decision-support solutions, this acquisition will enhance our ability to develop innovations to help our clients refine their marketing outreach, boost customer acquisition and retention, and increase profitable growth.”

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“Verisk has shown a strong commitment to meeting the rapidly changing needs of leading marketers with data-driven solutions, highly experienced teams, and a significant innovation pipeline,” says Ross Shanken, founder and CEO, Jornaya. “As part of the Verisk family, we’ll be able to increase our reach, improve our solutions, and help our clients grow with greater speed and efficiency by driving better customer engagement, acquisition, and retention.”

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About Jornaya

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Jornaya has proprietary behavioral data in markets where consumers make considered purchases, including the insurance and lending industries. Jornaya’s data helps companies and their marketing teams improve consumer engagements and drive profitable growth through a deeper understanding of their customers and prospects and their buying journeys. Leading companies use Jornaya’s data to help retain current customers, grow relationships with existing customers, and establish new relationships. For more information, visit jornaya.com.

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About Verisk 
Verisk (Nasdaq:VRSK) is a leading data analytics provider serving customers in insurance, energy and specialized markets, and financial services. Using advanced technologies to collect and analyze billions of records, Verisk draws on unique data assets and deep domain expertise to provide first-to-market innovations that are integrated into customer workflows. Verisk offers predictive analytics and decision support solutions to customers in rating, underwriting, claims, catastrophe and weather risk, global risk analytics, natural resources intelligence, economic forecasting, and many other fields. Around the world, Verisk helps customers protect people, property, and financial assets.

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Headquartered in Jersey City, N.J., Verisk operates in 30 countries and is a member of Standard & Poor’s S&P 500®Index. In 2018, Forbes magazine named Verisk to its World’s Best Employers list. For more information, please visit www.verisk.com.

 

Leading figures from global broadcasting and the digital economy join Reuters Next speaker line-up

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REUTERS MEDIA CENTER

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DECEMBER 4, 2020 9:53 PM UPDATED

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Leading figures from global broadcasting and the digital economy join Reuters Next speaker line-up

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By Reuters Communications

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Tim Davie, Director General of the BBC, and Jotse Groen, CEO of Takeaway.com, are just two stand-out speakers newly confirmed at Reuters Next, one of the biggest and most ambitious leadership summits in the world.

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With just over one month until the virtual conference – which takes place January 11-14, 2021 – Reuters Next will deliver agenda-setting discussion around the theme of Rethink, Rebuild, Recover; A New Vision For A Better Tomorrow, a host of freshly-announced names have been added to the impressive line-up.

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The conference will bring together 25,000 executives over four days to examine topics such as global trade, climate change and sustainability, the fallout from the U.S. election and the impact of Brexit, new work models, press freedom and economic recovery, providing professionals with essential insights and information to make smart decisions.

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Other newly confirmed speakers include:

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– Haris Arshad, Managing Director, Sime Darby Oils

 

– Bibi Bakare-Yusuf, Founder & Publisher, Cassava Republic Press

 

– Sama Bilbao y Leon, Director General, World Nuclear Association

 

– Fatih Birol, Executive Director, International Energy Agency

 

– Vera Daves, Angola Finance Minister

 

– Benjamin Diokno, Governor, Bangko Sentral ng Pilipinas

 

– Deep Kalra, Founder & Group Executive Chairman, MakeMyTrip Limited

 

– Osprey Orielle Lake, Founder and Executive Director, Women’s Earth and Climate Action Network (WECAN) International

 

– Takeshi Niinami, Chief Executive Officer, Suntory

 

– Maria Ressa, Founder, Rappler

 

– Vergel O. Santos, Member, Board of Trustees, Center for Media Freedom and Responsibility.

 

– Thae Yong-ho, The Member of the National Assembly of The Republic of Korea

 

– Lei Zhang, Founder, Hillhouse Capital Group

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The stellar line-up also features previously announced speakers including Christine Lagarde, European Central Bank President; Sandeep Mathrani, CEO, WeWork; activist and businessman Bobi Wine; Kristin Peck, CEO, Zoetis; Shan Weijian, Chairman and CEO, PAG Group; Mike Wirth, CEO, Chevron; Waad al-Kateab, Founder, Action For Sama; and Darren Walker, President, Ford Foundation.

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The diverse roster of speakers to examine topics from multiple perspectives, bringing their passion, experience and expertise to find new ways forward on the most pressing issues of our age.

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Josh London, Reuters Chief Marketing Officer and Head of Reuters Professional, said: “I’m delighted to welcome such diverse, high-profile leading speakers to Reuters Next, who bring a wealth of experience and insight to provide trusted intelligence for our professional audience. It’s shaping up to be an incredibly exciting global conference, which will start 2021 with a bang.”

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Led and programmed by newsroom editors, Reuters Next draws on the strength of the world’s biggest news provider – with 2,500 journalists in 200 locations – and its unrivalled ability to provide professionals with both business and general news from every part of the world.

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The summit follows the launch of Reuters Professional – a new, unified offer of global news coverage, commentary and industry-leading events to help professionals make smart decisions.

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Reuters Next is produced by Reuters Events and powered by Reuters award-winning newsroom. Reuters Events was created in October 2019 after Thomson Reuters acquired FC Business Intelligence. It delivers high-end conferences and exhibitions to diverse sectors including energy, insurance, pharmaceuticals, transportation, travel, strategy and technology. Its offerings help senior business professionals stay at the forefront of change through insight sharing and networking with peers.

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The full agenda and further details can be found at reutersnext.com.

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[Reuters PR Blog Post]

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Media contact:
Joel.ivory-harte@thomsonreuters.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

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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

MIB Acquires Paperless Solutions Group

MIB o2VWOQja-400x321 PSG download

PR Newswire

 

Expands Portfolio of Digital Solutions Expediting the Life Underwriting Process

 

NEWS PROVIDED BY

MIB Group, Inc.

 

MIB, the life insurance industry’s most trusted and secure partner for data-driven services, announced that it has acquired Paperless Solutions Group (PSG), a digital solutions provider. The acquisition expands MIB’s portfolio of solutions aimed at making the application and underwriting processes quicker and more efficient.

 

MIB’s expanded portfolio will include PSG’s products and tools that automate and facilitate the application process, including requirement gathering, signatures, policy delivery, application submission and underwriting risk assessment. These services integrate flexibly and easily with carrier systems and complement MIB’s existing products, which help insurers assess risk during and after the underwriting process.

 

“PSG has a long history of service to the life & health space with a special eye to process improvement,” said Jeff McCauley, President of PSG.  “The team and I are very excited to join the MIB Group as we believe the alignment of our products, services and personnel will bring even more innovation to the industry.”

 

“The life insurance industry is in the early stages of a digital transformation that has only accelerated since the onset of the pandemic,” said Brian Winikoff, President and CEO of MIB. “PSG’s portfolio of products and services are well positioned to support the industry’s quest to simplify and expedite the insurance application process and fit well with the solutions MIB offers our clients today.  Integrating PSG’s platform with our existing services will enable us to provide next-generation capabilities focused on automating the approach to selling and underwriting life insurance.”

 

PSG’s tools can be used individually, or on a bundled basis, and are easily incorporated into a carrier’s existing systems through robust API plug-in capabilities. “We believe PSG’s platform could provide significant value to the life insurance industry by streamlining the underwriting process and providing an efficient and reliable portal to collect key data closer to the point of sale,” said Winikoff.  That value is of critical importance as the life insurance industry looks to new technologies to help them drive efficiencies.

 

About Paperless Solutions Group
PSG is a leading provider of cloud-based software solutions for the life insurance and financial services industry. Our products and services provide unparalleled automation and integration for the insurance services industry. These innovative offerings conduct millions of transactions annually by enabling the presale, new business and underwriting, point of sale, and post-sale support. To learn more about PSG, please visit www.psginc.co.

 

About MIB
MIB Group, Inc. is the life and health insurance industry’s most trusted and secure partner for data-driven risk management and digital solutions that protect the financial integrity of its members and clients while addressing their evolving needs. Owned by its members who span the life insurance industry, MIB is uniquely positioned to provide data-driven solutions that address common industry challenges and enable clients to gain efficiencies, manage their risks, and grow profitably.  For more information about MIB, visit www.mibgroup.com.

 

Media Inquiries:
Betty-Jean Lane
MIB Group, Inc.
781.751.6135
blane@mib.com

 

SOURCE MIB Group, Inc.

Related Links

https://www.mibgroup.com

Wink, Inc. Releases Third Quarter, 2020 Life Sales Results

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WHOLE LIFE INSURANCE SALES SHINE AMIDST A DISMAL QUARTER

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Wink, Inc. Releases Third Quarter, 2020 Life Sales Results

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Des Moines, Iowa. November 30, 2020 Wink, Inc. released the third quarter, 2020 life sales results in its 93rd edition of Wink’s Sales & Market ReportWink’s Sales & Market Report is the insurance industry’s #1 resource for life insurance sales data, since 1997.

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Non-variable universal life sales for the third quarter were $624.9 million; down 5.2% when compared to the previous quarter and down 25.7% as compared to the same period last year. Non-variable universal life (UL) sales include both indexed UL and fixed UL product sales.

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Noteworthy highlights for total non-variable universal life sales in the third quarter included National Life Group gaining the #1 ranking overall, for non-variable universal life sales, with a market share of 10.9%. Transamerica’s Transamerica Premier Financial Foundation IUL was the #1 selling product for non-variable universal life sales, for all channels combined.

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Indexed life sales for the third quarter were $503.5 million, down nearly 1.0% when compared with the previous quarter, and down 9.1% as compared to the same period last year. Indexed life sales include both indexed UL and indexed whole life. “Thanks to the challenges of recent product repricing, low rates, market volatility, and Covid-19 challenges- indexed life was lucky to achieve sales that were relatively level from last quarter.”

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Items of interest in the indexed life market included National Life Group gaining the #1 ranking in indexed life sales, with a 13.4% market share. Pacific Life Companies, Transamerica, John Hancock, and Nationwide rounded-out the top five, respectively.

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Transamerica’s Transamerica Premier Financial Foundation IUL was the #1 selling indexed life insurance product, for all channels combined. The top pricing objective for sales this quarter was Cash Accumulation, capturing 66.7% of sales. The average indexed life target premium for the quarter was $10,920, an increase of nearly 2.0% from the prior quarter.

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Fixed UL third quarter sales were $121.7 million, down 19.4% when compared with the previous quarter and down 57.6% as compared to the same period last year. Noteworthy highlights for fixed universal life in the third quarter included the top pricing objective of No Lapse Guarantee capturing 54.3% of sales. The average UL target premium for the quarter was $5,066, a decline of more than 13.0% from the prior quarter. Moore commented, “It will be a miracle if total 2020 UL sales equal whole life insurance sales for a single quarter!”

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Whole life third quarter sales were $1,053.2 million, up 12.9% when compared with the previous quarter, and down more than 10.2% as compared to the same period last year. Items of interest in the whole life market included the top pricing objective of Final Expense capturing 57.7% of sales. The average premium per whole life policy for the quarter was $3,700, a decline of more than 3.0% from the prior quarter. “I anticipate that whole life sales will remain strong through 2020,” commented Moore.

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Wink currently reports on indexed universal life, indexed whole life, universal life, whole life, and all deferred annuity lines’ product sales. Sales reporting on additional product lines will follow in the future.

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For more information, go to www.WinkIntel.com

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Wink, Inc. is the company behind the most comprehensive life insurance and annuity due-diligence tools, AnnuitySpecs and LifeSpecs at www.WinkIntel.com. Wink, Inc. is the distributor of the quarterly Wink’s Sales & Market Report. Serving as the insurance industry’s #1 resource of indexed insurance product sales since 1997, this report provides sales by product, company, crediting method, index, distribution, surrender charge period, and more. Wink’s Sales & Market Report expanded to cover all deferred annuity products in 2015, all deferred variable annuity products in 2019, and all non-variable cash value life insurance products in 2017.

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The staff of Wink, Inc. has a combined experience of more than 175 years working with insurance products, more than a decade of which is specific to competitive intelligence. Based in Des Moines, Iowa, the firm offers competitive intelligence and market research in the life insurance and annuity industries; serving financial services professionals, distributors, manufacturers, regulators, and consultants on both a domestic and global basis.

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Sheryl J. Moore is president and CEO is the guiding force behind Wink, Inc. Ms. Moore previously worked as a market research analyst for top carriers in the life insurance and annuity industries. Her views on the direction of the market are frequently heard in seminars and quoted by industry trade journals.

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November 30, 2020

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Des Moines, IA

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(855) ASK-WINK