Profiles in Success

 

Life Brokerage Financial Group

Life Brokerage Financial Group

Business Challenge:

  • Insurance applications are NIGO — wrong information and incomplete.
  • Wrong forms are frequently selected for use.
  • Brokerage needs to improve internal processes, controls and procedures.

Solution: Implement iGO e-App powered by iPipeline.

  • Web- and wizard-based e-application streamline processing.
  • "iGO" submissions eliminate errors and reduce cycling.
  • Centralized access to multi-carrier products, rates, & quote engines eliminates need to access multiple carrier site via numerous log-ons and passwords.
  • Agent saves, updates, e-signs and e-submits for straight-through processing (STP).

Results: iGO e-App eliminated inadvertent application errors and accelerated processing.

  • Error-free processing shaved 10 days off cycle!
  • Agents are paid much faster.
  • Speed to market - agents earn more because they are processing more.

Equity Brokerage

Equity Brokerage

Business Challenge:

  • On the average, more than half of all applications are reworked and returned.
    – The use of out-dated and incorrect forms adds to delays.
  • Agency is running quotes.
    – Function is time-consuming and non-productive!
  • Agent has difficulty locating product and rate information for multiple carriers.
    – Agent must remember and use multiple log-ons and passwords
  • Recruiting and attracting younger agents to join the agency is linked to technology.

Solution:

  • Agents have been given Web-based access to iPipeline's multi-carrier network.
    – Agents access centralized product information via the distributor site.
    – Easy, rapid access to multi-carrier products, rates, and forms is driving sales.
    – Centralized location speeds access to up-to-date information
  • Implementing iGO e-App eliminated mistakes in applications.
    – Rules-based apps "get it right the first time."
    – Straight-through processing (STP) results in no-nonsense submissions.
    – Reduced recycling and processing costs makes everyone a winner.

Results:

  • Agents are running quotes and downloading PDF forms from the Equity Brokerage Web site.
    – Rapid access to up-to-date content is driving productivity.
  • Converting agents from paper to iGO e-App resulted in accelerated processing and higher sales volume for the brokerage.
    – Agents have been offered a higher commission incentive to use iGO e-App.
    – Solution is driving higher placement ratios, new efficiencies and cost savings.