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Financial Brokerage saw a double-digit increase in iGO e-App use in 2011.
Financial Brokerage saw the electronic processing of life business coming through its doors rise rather significantly last year as a result of iGO e-App. The Omaha, NE-insurance marketing organization saw a double digit increase in the use in 2011.
“The e-App was about 15 percent of our business last year,” says Sarah E. Stewart, Vice President & Chief Operating Officer. “We are really seeing the electronic process gain momentum.”
According to Stewart, Financial Brokerage holds quarterly webinars to introduce the tool. She cites the consistency of iGO e-App across the various carriers as a big draw for the agents that do business with them.
“That uniformity is critical,” she says. “Agents get very frustrated if they have to learn new systems constantly. Once they try the electronic platform, they stick with it because they are able to quickly see the benefits: quicker turnaround times, increased placement ratios, and less time spent on administrative tasks, which in turn allow them to spend more time selling. Which is exactly what they should be doing.”
Stewart points to middle market opportunities as a sweet spot for Financial Brokerage to get the most out of iGO e-App.
“In order to squeeze enough profit from lower commission cases, producers need to lessen their time involvement while at the same time maintaining the same level of service,” she says. “iGO e-App and the ticket models are the perfect solution.”
Stewart expects the percentage of use to increase as the company moves forward with promoting the tool even more in the coming year.
“We’re starting to look into other areas of distribution,” she says. “There are going to be more non-traditional agents selling life insurance. iPipeline’s end-to-end solutions enable us to offer a package that meets their needs, in addition to the needs of our traditional agents. Regardless of agent, the message is clear: not only are electronic applications more efficient, they significantly impact an agent’s bottom line!”