"With DocFast from iPipeline, OneAmerica was able to reduce the assembly and mailing process of policies & certificates from weeks to mere hours."
OneAmerica® is a financial services corporation providing life insurance, disability insurance, long- term care protection and annuities across the United States. OneAmerica distributes their products through a network of agents, brokers and additional distribution sources.
The objective for OneAmerica was to streamline their customer experience in order to reduce cycle time and realize an immediate return on investment (ROI). They worked with iPipeline to create a better, faster buying cycle experience for clients and agents. The collaboration also produced a decrease in cycle time, allowing for the delivery of policies in fewer days - as well as a reduction in delivery costs.
Time to print, assemble, and bind documents
With the customer and agent experience at the forefront of the initiative, OneAmerica set out to find an e-Delivery solution that could provide them with a flexible workflow and a real-time policy tracking dashboard. They prioritized a quick return on investment and an immediate improvement of the customer and agent experience when making their considerations.
iPipeline’s DocFast’s met all their requirements within a single solution. DocFast’s multi-workflow capability offered OneAmerica the option of sending documents to the insurance marketing organization (IMO), directly to an agent, or directly to the consumer, and the user-friendly dashboard provided them vision throughout each step of the delivery process.
With just a modest investment – and an impressive 1.4 year breakeven – OneAmerica was able to achieve remarkable benefits that included a cycle time reduction of roughly 15 days and an average $20-$25 decrease in delivery costs per policy. One of the most notable achievements to come out of the OneAmerica DocFast implementation was a drastic condensing of their process map – decreasing from 4 separate teams handling each policy, with a 20-step process, down to 1 team with only 8 steps to complete.
By implementing DocFast, OneAmerica was able to reduce assembly and delivery of policies and certificates of insurance from weeks to only hours. With direct-to-client delivery and electronic payment capabilities, they were no longer concerned about missing signatures or waiting days for payment. Integrated credit card and electronic bank draft functionality provided them with the final piece to achieve straight through processing and an optimized buying experience.