Navy Mutual Launches Innovative Technology from iPipeline® to Automate, Streamline, and Enhance Its Underwriting and New Business Processes
Nation’s Oldest Federally Recognized Veterans Service Organization Selects iPipeline’s Resonant® Solution to Accelerate and Improve the Delivery of Financial Peace of Mind to Servicemembers and Their Families
EXTON, PA—July 12, 2023—iPipeline® announces that Navy Mutual Aid Association, the nation’s oldest federally recognized Veterans Service Organization, recently launched its Resonant® multi-functional solution for underwriting and new business which will accelerate those processes for the insurer’s life insurance and annuity products.
By leveraging this latest technology in workflow automation, Navy Mutual now has the ability to significantly reduce the time to underwrite an application while creating a faster, more efficient, and modernized digital customer experience for servicemembers and their families.
With Resonant’s ability to digitize and seamlessly automate underwriting and case management, its no code, self-service tools optimize workflow automation by easily building workflow routing, rules, and underwriting requirements. This innovative technology combines case management and decision support, access to comprehensive reporting and analytics, and the ability to monitor and provide regulatory compliance control.
“Today’s customers expect a positive and easy buying experience – and purchasing life insurance is no different. To better meet expanding consumer expectations, the life insurance industry is embracing newer, better, and more streamlined technology in order to provide a seamless digital experience for the customer,” said Bill Hunter, Senior Vice President of Sales for iPipeline. “iPipeline continues to build new and innovative solutions that empower life insurance and annuity providers to automate and accelerate their key workflows – from beginning to end – across their businesses. We are excited to help Navy Mutual strengthen their underwriting and new business processes as they continue on their mission to provide military servicemembers and their families the financial protection they need.”
“iPipeline’s Resonant® solution provides us with a single system for ordering, receiving, and reviewing new business and underwriting requirements,” said Peter Meyers, Vice President of Solutions and Technology for Navy Mutual. “Implementing this technology is the first step in the next phase of our digital high-tech, high-touch journey. Everything we do is dedicated to improving the member experience. As a member-focused organization, their experience is the true measurement of success and the driver of every project we undertake. iPipeline understood that and delivered on our high expectations. Our teams were in alignment during both the planning and deployment stages and we are excited for this implementation to continue improving our processes and our member experience.”
To learn more about iPipeline’s Resonant solution, please visit https://www.ipipeline.com/products/resonant.
iPipeline is building a comprehensive digitized ecosystem for the life insurance and wealth management industries, which will enable millions of those who are uninsured or under-insured to secure their financial futures as part of a holistic financial planning experience. The firm is working to optimize all
application and processing workflows—from quote to commission—and consolidating them within one of the most expansive straight-through processing platforms, significantly reducing paper, saving time, and increasing premiums and placements for insurance agents. iPipeline is also committed to offering premier subscription-based tools to help financial institutions and advisors automate and digitize financial transactions, comply with regulations, and seamlessly incorporate life insurance and annuities into client accounts.
The iPipeline digital ecosystem incorporates one of the industry’s largest data sets to enable advisors and agents to optimize their businesses. Since its establishment in 1995, iPipeline has facilitated 1.5 billion quote responses, $32 billion in savings on printing and mailing costs, the collection of 55 billion premiums, and the protection of 25 million lives. iPipeline operates as a business unit of Roper Technologies (Nasdaq: ROP), a constituent of the S&P 500® and Fortune 1000® indices. For more information, please visit https://www.ipipeline.com/.
About Navy Mutual
Navy Mutual is a nonprofit, member-owned mutual association established in 1879 to provide affordable life insurance and peace of mind to members of the military and their families. As the nation’s oldest federally recognized Veterans Service Organization, its mission and commitment to protect those who defend us remains unwavering. Financially strong, Navy Mutual is proud to be a first-choice provider of life insurance to servicemembers and their loved ones. Through quality life insurance products, no-cost educational and veterans services programs, and unparalleled service, Navy Mutual has earned the loyalty and support of its membership. For more information, visit navymutual.org.
JConnelly for iPipeline
Director of Marketing, Navy Mutual