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iPipeline Client Erie Insurance Receives 2012 Celent Model Insurer Award
Exton, PA — 01/30/2012
iPipeline and Dell Services Launch Collaborative Effort with Erie to Successfully Automate Agent Selling, Processing and Administrative Activities
iPipeline®, the leader in on-demand marketing, selling and processing solutions for the nation's top insurance carriers, distributors and producers, today announced that Erie Family Life Insurance (EFL), a member company of Erie Insurance Group, has been recognized as a 2012 Model Insurer by Celent, a leading research and advisory firm. Celent's annual awards are given to organizations that highly exemplify successful IT best practices and measurable business results. EFL received the prestigious award based on the collaborative work performed with iPipeline and Dell Services to automate selling, processing and administrative activities for Life Insurance.
"As a result of EFL's collaborative effort with iPipeline and Dell Services, their agents have achieved and documented impressive results within a brief period. Erie agents submitted 31% of their eligible life insurance applications via iGO e-App® in the first month electronic submissions were available. Agents continued to climb the adoption curve with 41% electronic submissions within the next month," said Tim Wallace, CEO, iPipeline. "This is a true testimony to what can be achieved when an insurer implements best practices to deploy the solution, train agents, and promote its use within the process flow. The results are exceptional, and I congratulate Erie Insurance on winning the 2012 Celent Model Insurer Award for a job well done."
"The Erie, iPipeline and Dell collaboration delivered earlier-than-expected results. We are very pleased that electronic adoption rates within the first 4 months surpassed the 3rd year target for electronic submission targets," said Mike Plazony, Senior Vice President, EFL. "We reduced NiGO (Not in Good Order) submissions by 20% and decreased processing costs by over 15%. Agents also experienced a 10% improvement in time to issuance for in Good Order new business life policies since we implemented the iGO e-App electronic submission process. The accelerated business processing times and ROI to date have exceeded our expectations, and we are targeting better results with further adoption of the electronic application solution. Erie Insurance is pleased to be a 2012 Celent Model Insurer Award winner."
"In today's economic environment, the winning firms are the ones who leverage all available resources to the maximum to meet market challenges," said Karen Monks, an analyst in Celent's insurance practice. "Erie Insurance was selected as a Model Insurer because of its implementation of iGO e-App and its best practices in the use of standards, higher productivity / lower staff expenses, and effective integration of system and process."
About Erie Insurance
According to A.M. Best Company, Erie Insurance Group, based in Erie, Pennsylvania, is the 13th largest automobile and homeowners insurer in the United States based on direct premiums written and the 19th largest property/casualty insurer in the United States based on total lines net premium written. The Group, rated A+ (Superior) by A.M. Best Company, has over 4.3 million policies in force and operates in 11 states and the District of Columbia. Erie Insurance Group is a FORTUNE 500 company. Erie Insurance is proud to be named a J.D. Power and Associates' 2011 Customer Service Champion and is only one of 40 companies so named in the U.S. Erie Insurance has also been recognized on the list of Ward's 50 Group of top performing insurance companies. The Ward's 50 award analyzes the financial performance of 3,000 property and casualty companies and nearly 800 life and health insurance companies and recognizes the top performers for achieving outstanding financial results in safety and consistency over a five-year period (2006-2010). Visit us at www.erieinsurance.com.
iPipeline leads its industry in providing the next-generation suite of sales distribution software to the insurance and financial services markets through its on-demand service. iPipeline's channel solutions for carriers, distributors, producers and financial professionals automate activities for CRM, forms distribution and processing, quotes and illustrations, in Good Order e-Applications, agency management, data services, policy delivery and related services, enabling the insurance industry to market, sell, and process faster. iPipeline provides the process automation and seamless integration needed on a global basis to make a sale by aggregating 125 carriers, 1,200 distributors and their financial professionals and licensed advisors in a single, Web-based environment – the iPipeline Customer Network. With headquarters in Exton, Pennsylvania, iPipeline has locations in Atlanta, Charlotte, Danville, Milwaukee, Salt Lake City, Tokyo, UK, and Vancouver. Visit us at www.ipipeline.com.