Columbus Life Pilot Launch Reports 35% Faster Policy Issuance with iGO e-App
iPipeline®, the leader in on-demand marketing, selling and processing solutions for the nation's top insurance carriers, distributors and producers, today announced that Columbus Life Insurance Company, a top-rated provider of life insurance and annuity products, reported 35% faster policy issuance as a result of deploying iGO e-App® to a pilot group of independent producers from May through September. The solution was made accessible to all 3,000 independent producers on October 8th, 2012. Products supported include: Voyager UL, Explorer Plus UL, Indexed Explorer Plus UL and 10/20/30 Year Nautical Term.
"Columbus Life reported that policies submitted via iGO were placed in force 35% faster than paper applications processed during the same pilot period. iGO e-App also reduced underwriting time by 12 business days. These are major gains," said Tim Wallace, CEO, iPipeline. "We have worked closely with Columbus to ensure their success, and we expect their full field launch of iGO e-App to 3,000 agents to deliver speed-to-market advantages and the associated placement ratio lift. Columbus' team is to be commended for executing an exceptionally well-managed pilot program."
"Columbus Life is proud to bring independent producers the POWER of iGO e-App® to accelerate the processing of their life insurance business with our company. We have partnered with iPipeline to introduce this intuitive, electronic application process at Columbus Life, which ensures every application is in good order and speeds up the life insurance policy issue process," said Charlie Wood, Senior Vice President and Chief Marketing Officer, Columbus Life. "We are committed to providing technological tools and resources that enable independent producers to grow their business efficiently and effectively – and always make it easier to do business at Columbus Life."
About Columbus Life Insurance Company
Columbus Life, located in Cincinnati, Ohio, is a top-rated company providing life insurance and annuity products for clients that operates in the District of Columbia and all states except New York. With a heritage dating back to 1906, the company provides retirement, estate planning, and advanced business planning services to the affluent market through a nationwide network of independent producers and registered representatives. The company holds outstanding ratings from leading financial ratings agencies, including A.M. Best A+ for superior financial strength (second highest of 16 ratings, held since June 2009), Standard & Poor's AA+ for very strong financial security characteristics (second highest of 21 ratings, held since August 2005), and a Comdex ranking of 97. Columbus Life is a member of Western & Southern Financial Group. For more information, visit www.columbuslife.com.
iPipeline leads the 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, and financial institutions automate activities for health class estimation, CRM, forms distribution and processing, quotes and illustrations, e-Applications, agency management, data services, policy delivery and policy holder services, enabling the entire 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 approximately 125 carriers, 1,200 distributors and financial institutions, and their producers and licensed advisors in a Web-based environment – the iPipeline Customer Network. With headquarters in Exton, Pennsylvania, iPipeline has locations in Atlanta, Charlotte, Danville, Fort Lauderdale, Philadelphia, Salt Lake City, Tokyo, UK, and Vancouver. Visit us at www.ipipeline.com.
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