Tag: instant decisioning

iPipeline Teams With Symetra to Insure Term Life Customers in Minutes

Written by iPipeline on . Posted in Press & News.

Drop Ticket with e-App Client Collaboration, Underwriting Engine Integration, and Real-Time Data Validation Modernize the Agent and Client Experience

Exton, PA (July 14, 2021) — iPipeline® — a leading provider of no-code/low-code content-based digital solutions for the life insurance and financial services industry, has partnered with Symetra Life Insurance Company to innovate the new business acquisition process for Symetra’s new, fully automated SwiftTermSM term life insurance product. The comprehensive solution modernizes the agent and client experience using a drop ticket to rapidly collect client information, which is transferred to an e-Application for client collaboration. The iPipeline platform integrates with the MRAS (Munich Re® Automation Solutions) underwriting engine to generate reflexive questions and queries data vendors for real-time validation to support automated decisioning. The streamlined approach is designed to result in the best underwriting path for each applicant, with most receiving either an instant decision or a light touch by an underwriter to drive policy issuance.

“iPipeline and Symetra came together to create an innovative approach to accelerate the new business acquisition process for SwiftTerm. This automated approach dramatically improves how agents collaborate with their clients to rapidly fulfill their term life insurance needs,” said Larry Berran, CEO, iPipeline. “No medical exam/instant issue life insurance with same day approval is no longer a dream. It is quickly becoming a reality for clients who meet the requirements and carriers who have implemented the necessary technologies. This is a real game changer for Symetra, and iPipeline is pleased to be a part of the groundbreaking initiative.”

“Symetra’s vision is to help empower our customers and partners and implementing next-gen technologies that make it easier to do business with us is a key part of achieving that vision. Whether an applicant qualifies for instant issue or requires a light touch from an underwriter, our goal is to make the SwiftTerm application process simple and issue term life insurance in 25 minutes or less,” said Mindi Work, SVP, Chief of Strategy, Symetra. “While there will always be instances where full underwriting is required, we are committed to optimizing our instant issue approach — from the initial drop ticket and rules-based decisioning to policy issuance — to improve the overall customer experience. Our iPipeline partnership helped us make significant advancements to achieve this vision, and we are excited to offer this to qualified applicants at competitive pricing with portal-based payment.”

To learn more about iPipeline’s innovations in client collaboration, click here, contact sales@ipipeline.com or call 1-800-758-0824, option 2. For more information about SwiftTerm, visit www.swifttermlife.com.

Mindi Work, SVP, Chief of Strategy, Symetra

About Symetra
Symetra Life Insurance Company is a subsidiary of Symetra Financial Corporation, a diversified financial services company based in Bellevue, Washington. In business since 1957, Symetra provides employee benefits, annuities and life insurance through a national network of benefit consultants, financial institutions, and independent financial professionals and insurance producers. For more information, visit www.symetra.com.

About iPipeline
iPipeline is a leading provider of no-code/low-code, content-based digital solutions for the life insurance and financial services industry. Through our SSG Digital, end-to-end platform, we accelerate and simplify sales, compliance, operations, and support. We provide process automation and seamless integration between every participant in our ecosystem including carriers, agents, general agencies, advisors, broker-dealers, RIAs, banks, securities/mutual fund firms, and their consumers on a global basis. Our innovative solutions include pre-sales support, new business and underwriting, policy administration, point-of-sale execution of applications, post-sale support, data analysis, reporting, user-driven configuration, consumer delivery and self-service, and agency and firm management.

iPipeline’s platform is used by approximately 450 carriers and fund companies, 1,400 distributors and financial institutions, and their agents and licensed advisors in a cloud-based environment. With headquarters in Exton, Pennsylvania, iPipeline has locations in Boston, Bromley (UK), Burlington (Canada), Cheltenham (UK), Dallas, Davidson, Fort Lauderdale, Huntersville, Ontario (CA), Philadelphia, Pleasanton, and Salt Lake City. Visit www.ipipeline.com.

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For iPipeline:
Lisa Shea
Marketing
lshea@ipipeline.com
484-870-6234

Pekin Life Insurance Company Integrates iPipeline’s Resonant Automated Underwriting With iGO e-App for Instant Decisioning

Written by iPipeline on . Posted in Press & News.

Instant Decisioning for Life Insurance Accelerates Sales in COVID-19 Pandemic

Exton, PA (November 23, 2020) – iPipeline® – a leading provider of low code cloud-based software solutions for the life insurance and financial services industry – today announced Pekin Life Insurance Company has integrated Resonant® New Business and Underwriting into their new business platform to provide point-of-sale (POS) instant decisioning within iGO® e-App, the most widely used, wizard-based e-Application among carriers and agents in the US.

“POS instant decisioning is something that we have long been advocating at iPipeline. With the current COVID-19 pandemic and the obstacles being faced by both agents and their clients, POS automation can be of enormous benefit,” said Larry Berran, CEO, iPipeline. “In Pekin Life’s new workflow, the life insurance case is submitted through iGO e-App to Resonant and the necessary automated underwriting actions take place, based on predefined rules. This accelerated approach to instant decisioning for life insurance ultimately leads to better outcomes for both the insurer and the customer, particularly at a time when contactless selling has become the new norm.”

“iPipeline is transforming how we think about the new business workflow and how we help our agents sell life insurance products to their clients. Our next-gen straight-through processing platform has advanced to the point with Resonant where we are now able to provide the agent with an instant underwriting decision with no human interaction,” said Jocelyn Duncan at Pekin Life, VP of Life Administration. “In the future, our plans are to further enhance the platform functionality and increase straight-through processing speed by reducing human interaction on a wider array of products and including DocFast® e-Delivery to fully automate policy issuance. iPipeline has continued to innovate with us on many fronts this year. The results of this partnership are helping us to maintain and build upon our market momentum during the COVID-19 pandemic and offer the valuable protections so many families need at this time.”

To learn how you can implement iPipeline’s Instant Issue products to automate how your products are sold, contact sales@ipipeline.com or call 1-800-758-0824, option 2.

About Pekin Life Insurance Company
Pekin Insurance is a group name adopted to designate the combined operation of The Farmers Automobile Insurance Association, Pekin Insurance Company, PAC, Inc., Pekin Select Insurance Company, and Pekin Life Insurance Company.

Pekin Insurance has been in business since 1921 and is one of the leading insurers in the state of Illinois, providing multiple lines of insurance. Pekin Insurance offers insurance coverage in 21 states through its growing agency force, which now totals 1,500 independent agencies and 8,500 insurance producers. The company is headquartered in Pekin, Illinois, with service offices at Phoenix, Arizona; O’Fallon, Rockford, and Warrenville, Illinois; Indianapolis, Indiana; Des Moines, Iowa; Columbus, Ohio; and Appleton, Wisconsin. Visit us at www.pekininsurance.com

About iPipeline
iPipeline is a leading provider of low code, cloud-based software solutions for the life insurance and financial services industry. Through our SSG Digital, end-to-end platform, we accelerate and simplify sales, compliance, operations, and support. We provide process automation and seamless integration between every participant in our ecosystem including carriers, agents, general agencies, advisors, broker-dealers, RIAs, banks, securities/mutual fund firms, and their consumers on a global basis. Our innovative solutions include pre-sales support, new business and underwriting, policy administration, point-of-sale execution of applications, post-sale support, data analysis, reporting, user-driven configuration, consumer delivery and self-service, and agency and firm management.

iPipeline’s platform is used by approximately 450 carriers and fund companies, 1,400 distributors and financial institutions, and their agents and licensed advisors in a cloud-based environment. With headquarters in Exton, Pennsylvania, iPipeline has locations in Boston, Bromley (UK), Burlington (Canada), Cheltenham (UK), Dallas, Davidson, Fort Lauderdale, Huntersville, Ontario (CA), Philadelphia, Pleasanton, and Salt Lake City. Visit www.ipipeline.com.

###

For iPipeline:
Lisa Shea
Marketing
lshea@ipipeline.com
484-870-6234