Driving Higher Placement Ratios and BGA Engagement
In the modern life insurance environment, the criticality of the customer experience cannot be overstated. Accelerating the application process, and removing the disconnect between need and execution, is the key to helping more people get insured.
Listen to Laura Morrison, VP of Sales and Chief Channel Officer of Sagicor Life Insurance Company, as she shares their experience of process improvement. By allowing the customer experience to drive their decisions for digital investments and product design, they have seen higher placement ratios and increased BGA engagement.
Laura explores the benefits of their fluidless, no telemed workflow of iGO® — Resonant® — DocFast®, which has resulted in client decisioning at the point of sale.
This is an accelerated underwriting discussion you won’t want to miss!
EXTON, PA (September 25th, 2018) – iPipeline® – a leading provider of cloud-based software solutions for the life insurance and financial services industry – today reported Sagicor Life Insurance Company (Sagicor), an industry innovation leader, has deployed Resonant® New Business & Underwriting (NB&UW) and DocFast® for e-Delivery solutions to power their new Direct-to-Consumer (DTC) portal, SagicorNow®. SagicorNow® offers buyers accelerated underwriting approvals and policy delivery with online purchasing and no required medical exam for the Sage Term 10,15 and 20-year life insurance products, which are available in 22 states today and 46 by the end of the year.
“Distribution is ripe for
digitalization.Digitized underwriting and policy delivery enable online
distribution, allowing insurers like Sagicor to cast a wider net and
embrace today’s younger buyers who seek a virtual online experience,”
said Tim Wallace, CEO, iPipeline.“Underwriting decisions are powered by
the Resonant rules engine providing nearly instantaneous decisioning,
and polices are delivered immediately via DocFast to greatly reduce
cycle times and dramatically increasing placement ratios.Without a
doubt, Sagicor has taken a major step forward to innovate how they
attract individuals from the underserved market. We are pleased to play a
critical role in their offensive strategy to expand market share.”
and policy delivery digitalization removes barriers to purchasing with
individuals put off by time consuming and complex life insurance buying
activities.Our goal is to keep it quick and simple, and when desired,
allow the consumer to use live chat at our site to secure answers to
questions. After evaluating multiple options, we innovated a new
solution with iPipeline to achieve our vision for a totally automated
process,” said Mike Stricker, CAO, Sagicor. “SagicorNow® enables
consumers to purchase up to $1,000,000 in term coverage or up to
$250,000 of whole life coverage through a virtual experience. Our focus
is to increase the velocity of new business sales by leveraging
best-of-breed technology, such as that provided by iPipeline.Together,
we have managed to launch a solution that provides our family, friends
and neighbors with a premier purchasing experience along with
iPipeline is focused on delivering industry innovations to simplify and accelerate your new business and policy administration/in force management requirements in a modular platform. To reimagine how you do business and schedule Resonant NB&UW and DocFast for Policy Delivery demonstrations, contact email@example.com today.
Sagicor Life Insurance Company is a full-service life insurance company that helps clients make wise financial decisions today to ensure they’re protected tomorrow. Sagicor is licensed in 45 states and the District of Columbia and is rated “A-” (Excellent) by A.M. Best Company (4th best out of 16 possible ratings). Sagicor is a wholly-owned subsidiary of Sagicor Financial Corporation Limited. Founded in 1840, it is one of the oldest insurance groups in the Americas, with operations in 22 countries mainly in the United States, Central America and the Caribbean. Sagicor is committed to offering customers world-class service with integrity and value. Visit https://www.sagicorlifeusa.com.
is a leading provider of cloud-based software solutions for the life
insurance and financial services industry. Through our SaaS-based new
business acquisition platform, we accelerate and simplify sales,
compliance, operations and support. We provide process automation and
seamless integration between every participant in the financial services
industry including carriers, agents, general agencies, advisors,
broker-dealers, RIAs, banks, securities/mutual fund firms, and their
consumers. Our innovative solutions enable automated processing for
pre-sales, new business and underwriting, policy administration,
point-of-sale execution of applications, post-sale support, data
analysis, reporting, consumer delivery and self-service, and agency and
iPipeline provides the process automation and seamless integration needed on a global basis to make a sale by aggregating more than 130 carriers, 1,300 distributors and financial institutions, and their agents and licensed advisors in a cloud-based environment. With headquarters in Exton, Pennsylvania, iPipeline has locations in Bromley (UK), Cheltenham (UK), Dallas, Fort Lauderdale, Huntersville, Ontario (CA), Philadelphia, Pleasanton, and Salt Lake City. Visit www.ipipeline.com.