Tag: underwriting

iPipeline® Adds Speed of Underwriting to Quote Engine with Ethos to Deliver Insurance to Agents in Minutes

Ethos Becomes First Insurtech on the Platform as Proprietary iPipeline Technology Feature Optimizes Filtering of Policies with Instant Underwriting

EXTON, PA and AUSTIN, TX—June 16, 2022—iPipeline® announces that it has entered into a strategic alliance with Ethos, one of the largest term life insurance providers in the U.S., empowering Ethos to help a wider range of consumers benefit from its online life insurance coverage platform. As the first insurtech on the iPipeline platform, Ethos can now offer its white-labeled and customized life insurance assessment, application, and policy delivery services to the more than 400,000 agents across the iPipeline ecosystem.

Ethos’ mission is to make life insurance more affordable and accessible to as many Americans as possible. With Ethos, consumers can obtain life insurance policy quotes and apply online in minutes without medical exams. Using its proprietary technology stack, Ethos can process the application instantly, providing information about coverage eligibility and rates. Once the application is approved, the policyholder can activate their coverage immediately.

Insurtechs can appear lower in lists on quote engines that were traditionally designed to sort only by premiums. iPipeline resolves this issue by displaying a “speed score” to agents. Each carrier is measured by the amount of time it takes for an agent to complete their digital application, as well as the time it takes the carrier to make an underwriting decision. These speeds and qualification scores are displayed next to the carrier’s premium. Now for the first time, agents can sort via speed and any of these categories, allowing them to help their customers get the best product for their needs, especially as more and more consumers expect instant online experiences.

“Each agent determines what matters most to their client. Sometimes that’s speed—and sometimes it’s price,” said Bill Atlee, Founder and Chief Innovation Officer of iPipeline. “Our quote engines with the added ‘speed score’ search will help Ethos stand out in an industry that is used to a 30-to-45-day underwriting process. Agents can now view Ethos’s products alongside traditional carriers with the ability to consider more than just price. We’re excited to bring the Ethos products to the many agents in the iPipeline ecosystem, and we look forward to our ongoing partnership.”

“iPipeline’s distribution and innovation capabilities will help us as we continue on our mission to protect the next million families,” said Vipul Sharma, Chief Technology Officer at Ethos. “iPipeline shares our commitment to making life insurance more accessible and improving the experience—at every point in the process. This strategic alliance allows us to seamlessly reach more consumers through the thousands of insurance agents who use iPipeline.”  

About iPipeline

iPipeline is building the end-to-end digitized ecosystem for the life insurance and wealth management industries, which will enable millions of uninsured or under-insured Americans 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 unit of Roper Technologies (NYSE: ROP), a constituent of the S&P 500®, Fortune 500®, and the Russell 1000® indices. For more information, please visit https://www.ipipeline.com/.

About Ethos

Ethos is a technology company. We make it easier than ever for everyone to protect their families with life insurance. Ethos has created the insurance industry’s most advanced proprietary technology, eliminating the traditional barriers to life insurance by developing instant and accessible products that make it easy for everyone to protect their families with life insurance online, in minutes without any medical exams. We issue billions in coverage each month and an invaluable amount of peace of mind for our families every single day. Ethos is a global company, with offices in Austin, San Francisco, Seattle, and Singapore. To learn more, visit www.ethoslife.com.

Media Contacts:

Laura Simpson

JConnelly for iPipeline

973-713-8834

ipipelinepr@jconnelly.com

Sarah Freeman

Method Communications for Ethos

ethos@methodcommunications.com

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Resonant | Shorten Your Underwriting “Long Poles”. From Submission to Decision.

Presenter: Bill Atlee, Founder & Chief Innovation Officer, iPipeline

Let’s Talk About the 5 Days That Cost Carriers Millions of Dollars.

If you were asked to take a guess at what the pivotal day for cases in underwriting was, what would you say? We’ve uncovered this day, the “Hour of Sour”, that results in a 13% decrease in placement ratio. Talk about an underwriting ‘aha’ moment! Join Bill Atlee, Founder and Chief Innovation Officer at iPipeline, as he discusses this precise day and what it means in terms of millions of dollars being left on the table.

5 Days Cost Carriers Millions of Dollars.

At iPipeline, we’ve conducted the most expansive artificial intelligence and machine learning project known to the industry. Our mission was to analyze over 3 million life insurance applications submitted over the last 2 years and across 62 life insurance companies. The purpose? Enable machines to learn recognizable patterns that cause underwriting delays, missing requirements, agent behavior, case manager interactions, and any internal/external factors that could affect placement ratio.

Our goal was to increase the SPEED of underwriting by removing the obstacles that affect policy approval times.

Carriers measure underwriting speed in “cycle times”, and their success by “placement ratio”. Carriers typically define cycle time as the overall elapsed time from the date the carrier receives a submitted application until the date an underwriting decision is made. Cycle times are tricky because days are often not concurrent- instead, they’re a series of start, stop, and wait times. In traditional underwriting, it’s not uncommon for underwriters to wait on paramedical exams, APS’s, and agent responses- many factors that are beyond their control. We found machine learning was necessary to gather, organize and analyze these factors. These relationships were then plotted onto a placement ratio graph for all participating carriers. The graph revealed where the industry’s ratios plateaued, rose, and fell. We then took the same approach to graphing cycle times on each submitted application. Again, we saw various fluctuations. But here’s where the magic occurred: when we overlapped these two graphics, we found a precise day where industry placement ratio significantly dropped.

Across 62 carriers and millions of cases, the most impactful day was day 55.

However, the real “aha” moment was that cases still in underwriting between days 55 and 60 have a 13% decrease in placement ratio. This 5-day window after the day 55 “hour of sour” has huge financial consequences to carriers, so we needed to take a deeper dive. We had the machines segment applicants to filter those that fell below the blue line and purchased a policy. These green folks were then further delineated into policyholders that bought regardless of time, and those that also bought but had a bad experience due to time lags.

Above the blue line, you can see in red all the applicants that didn’t buy. Within this group of red folks, there’s a group that “will never buy”. This may be a result of them changing their mind, maybe losing their job, possibly received a worse underwriting offer, or simply went with another carrier. So the real focus should be on the applicants that did not buy due to lack of SPEED.

If the average carrier could shave 5 days off its’ cycle time, they could shift a block of applicants back into the green side, resulting in millions of additional premium dollars.

Remember, day 55 is the average across all our participating carriers and all applicant’s ages and face amounts together. The reality is, you can expect younger applicants, with lower face amounts, to fly through underwriting faster than older applicants, with higher face amounts. This is where machine learning really excels and helps uncover the “hour of sour” where placement ratio starts to drop each day.

Cycle Time Measured: Submission to In-Force

Machines can even go deeper by learning the effects that speed has on placement based on gender and product types. Clearly, speed matters. So, ask yourself, “where are you leaking time”? What are the long poles in your “outstanding requirements” tent that are not necessary, chewing up time, or can be fixed with modern technology?

Let’s have a look at some of the top underwriting delays across 62 life carriers:

Outstanding RequirementAverage Carrier’s Collection TimeResponsible Party
APS’s orders19.8 daysCarrier
Signed illustration18.7 daysAgent
Paramedical exam15.2 daysAgent/Insured
Signed Supplemental forms14.4 daysAgent
Missing application data10.3 daysAgent
APS review1.4 daysCarrier
Data entry1.3 daysCarrier

Without a doubt, agent behavior has an impact on underwriting speed. Carriers should be looking at both internal and external factors that contribute to a loss of speed. But this exercise will have little value if the carrier has no industry benchmark with which to compare themselves on speed.

iPipeline’s Resonant does exactly that and more. Resonant tracks millions of underwriting decisions across carriers and uses predictive analytics to optimize underwriting throughput. Once Resonant understands the desired underwriting path, it focuses on the toolsets necessary to execute those specified outcomes.

Resonant is built to shorten your underwriting long poles from submission to decision by providing four key modules to help you shorten your cycle time and increase placement ratio.

1) Workbench – where case managers and underwriters track and manage their individual cases with all the information needed to make a decision at their fingertips.
2) Decision Engine – this houses not only the complexity of underwriting, but also automates the entire new business process including robotic workflow routing of next steps to the right person at the right time.
3) Guideline Manager – provides you with the ability to build and modify the rules that drive the Decision Engine – not only Underwriting guidelines, but also Product, Workflow, NIGO and Suitability.
4) Correspondence – faster messaging to agents and clients.
5) OR Real-Time Dashboards – manage the pending inventory in real-time and quickly take action on cases approaching the “hour of sour”.

The Workbench and Decision Engine/Guideline Manager modules can be used separately or purchased as a suite. Either strategy will enable Resonant to help you to transform underwriting and modernize your technology.
When you’re ready, Resonant will integrate with your e-Application and offer your agents “instant decisioning” on your products that make the most sense. Standard integrations with third party evidence provider tools enable access to critical data in real time. Resonant can provide you with one process to handle the entire spectrum of underwriting from instant to accelerated to traditional.

Finally! A modern underwriting tool with all the capabilities you need, wrapped together in an advanced analytics and industry benchmarking solution. Built by underwriters, for underwriters.

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

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.

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

The Sagicor Life Insurance Company Customer Experience

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!

Season 1, Episode 9 | Underwriting in the Modern Era

Released May 29, 2018

This episode of the PipeCast features Jennifer Richards, Head of Life/Disability Insurance New Business & Underwriting for MassMutual. She shares fascinating insights about the nuances of underwriting in 2018, how technology and human intelligence intersect, the importance of a positive work environment, and much more in a wide-ranging discussion.

SBLI Simplifies Accelerated Underwriting Program with iPipeline

EXTON, PA (July 9th, 2019) – iPipeline® – a leading provider of cloud-based software solutions for the life insurance and financial services industry – today announced SBLI (The Savings Bank Mutual Life Insurance Company of Massachusetts) has implemented iGO® Drop Ticket to simplify its Accelerated Underwriting program for independent agents and their customers. Over 250 distributors are currently participating in SBLI’s program.

iGO Drop Ticket is an intelligent, rules-based short form, used by producers and call center support staff for insurance application processing. iGO Drop Ticket runs on iPipeline’s SSG Digital platform, which integrates directly with over 1,350 websites within the U.S.

“The complexities of selling life insurance are vast and contribute to the high number of underinsured in the U.S. Between state regulations, numerous product options, and thousands of forms, selling this important part of a family’s financial future isn’t always easy,” said Tim Wallace, CEO, iPipeline. “iGO Drop Ticket removes these barriers by simplifying what agents need to submit to a carrier to get the job done.”

“Agents send the ticket and the accompanying data directly to the carrier’s call center system, freeing them to concentrate on selling more while the center handles behind-the-scenes processing,” added Wallace. “This means more commissions for agents, better efficiency at call centers, and faster policy issuance for families seeking coverage. We are pleased to be a part of SBLI’s Accelerated Underwriting program.”

“The industry averages around 30 days for the issuance of life insurance after the application is submitted, and this is just too long for our customers. By expanding our drop ticket coverage to include iPipeline customers, we are increasing the opportunity for producers to submit business to SBLI more easily. Additionally, by using our award-winning Accelerated Underwriting program for agents and their consumers with iGO Drop Ticket, more than half of our Accelerated Underwriting decisions can be made in five days or less for up to $500K in coverage,” said Denis Clifford, SVP, Chief Distribution Officer, SBLI. “This program is being made available to all consumers and distributors, regardless of the risk class, to simplify and speed processing. We are excited to be able to more rapidly insure families seeking affordable protection with the help of iPipeline’s innovations.”

iPipeline’s SSG Digital core platform is designed to enable the life insurance and financial services industry to automate and simplify all new business, administration, and in-force management tasks to achieve desirable business outcomes. For assistance in reimagining how your organization does business and achieving a competitive advantage, contact sales@ipipeline.com or call 1-800-758-0824, option 2.

About SBLI

Conceived by U.S. Supreme Court Justice Louis D. Brandeis, Savings Bank Mutual Life Insurance (SBLI) was established in Massachusetts in 1907. Today, SBLI is a policy-holder-owned provider of safe, low-cost life insurance products, currently licensed in 49 states and the District of Columbia. For more information, call the SBLI Brokerage Sales Desk at 888-224-7254 and select option 1, or email brokerage@sbli.com.

About iPipeline

iPipeline is a leading provider of 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 more than 135 carriers, 1,350 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), Burlington (Canada), Cheltenham (UK), Dallas, 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

Pekin Life Insurance Innovates with iPipeline’s Underwriting and e-Delivery Solutions to Power Core New Business Platform

EXTON, PA (May 7, 2019) – iPipeline® – a leading provider of cloud-based software solutions for the life insurance and financial services industry – today announced Pekin Life Insurance is innovating with Resonant® for new business and underwriting and DocFast® for e-Delivery to power its core new business platform. The platform is used to automate and simplify sales activities for 1,500 distributors.

SSG Digital™, iPipeline’s end-to-end core platform for the life insurance and financial services industry, is the most widely used platform among independent and captive agents and licensed financial advisors in North America.

“Digital transformation is a key focus for executives in life insurance and financial services seeking to accelerate the speed of business.Pekin Life’s decision to implement our new business and underwriting and e-Delivery solutions is enabling them to deploy a powerful, end-to-end core platform to optimize sales for their independent agents,” said Tim Wallace, CEO, iPipeline. “Our SSG Digital platform delivers the most extensive capabilities offering in North America.Pekin Life’s tightly integrated quoting, illustrations, and e-app products are now enabling them to feed critical data into their underwriting and e-delivery process. This is a game changer, and it demonstrates how one platform has the ability to power new business functions across the enterprise.”

“As a result of our decision to innovate, information from the e-App will be directly transferred to our underwriting environment to reduce processing time. Approved policies will, in the very near future, be e-delivered to our customers to speed issuance and get them protected faster. This is an enormous gain for Pekin Life and our customers,” said Diane Steiner, Vice President, Life Underwriting, Pekin Life Insurance. “Pekin Life is focused on providing peace of mind and long-term security for our policyholders, shareholders, agents, and employees. Our digital transformation initiative with iPipeline supports this focus and allows us to meet the expectations of our customers by offering them an innovative, easy and quick buying experience to accomplish their financial goals.”

iPipeline’s SSG Digital core platform is designed to enable the life insurance and financial services industry to automate and simplify all new business, administration, and in force management tasks to achieve desirable business outcomes. For assistance in reimagining how your organization does business and achieving a competitive advantage, contact sales@ipipeline.com or call 1-800-758-0824, option 2.

About Pekin Life Insurance

Pekin Insurance is a group name adopted to designate the combined operation of The Farmers Automobile Insurance Association, Pekin Insurance Company, PAC, Inc., 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 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 more than 135 carriers, 1,350 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), Burlington (Canada), Cheltenham (UK), Dallas, 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

Amica Partners with iPipeline on Digital Transformation

EXTON, PA (December 4th, 2018) – iPipeline® – a leading provider of cloud-based software solutions for the life insurance and financial services industry – today reported Amica Life Insurance Company, a national provider of life and annuity insurance products, is partnering with iPipeline on its groundbreaking digital transformation project. The collaborative effort will result in one of the industry’s most integrated, end-to-end direct-to-consumer (DTC) experiences, making it easier and faster for consumers to purchase life insurance in a fully digital environment. The project features seamless integration of iPipeline’s Illustrations, iGO® e-Application, and Resonant® automated underwriting products with Amica’s policy administration system.

“DTC is rapidly emerging as a critical component in any life insurance carrier’s selling mix.The Amica project represents a flagship opportunity for iPipeline to showcase how our integrated solutions can digitize and modernize the entire DTC buying process and deliver speed-to-market advantages,” said Tim Wallace, CEO, iPipeline. “This implementation will streamline the consumer experience by reducing the number of steps required of them, while making Amica’s business processes and employees more efficient.”

“Our decision to partner with iPipeline aligns with our goal of enhancing the customer experience and improving internal processes through next-generation technologies that deliver operational improvements,” said Andy Mudra, Vice President, Amica. “Our customers have always been our top priority, and that relationship begins with the application process. We are committed to providing a seamless experience for all of our customers and applicants, regardless of how they choose to engage with us – be it online or directly with one of our sales representatives. Our life insurance application process must continue to evolve with the ever-changing needs of today’s consumers, and we are excited about launching this modern buying experience.”

iPipeline’s integrated solutions enable some of the nation’s most successful organizations to achieve new efficiencies and optimize selling opportunities by improving the agent, advisor, and customer experience. To reimagine how you do business and learn more about our industry-leading solutions, contact marketing@ipipeline.com today.

About Amica Life

Amica Life Insurance Company, a wholly owned subsidiary of Amica Mutual Insurance Company, was founded in 1969.Amica Life, based in Lincoln, Rhode Island, offers life insurance and retirement products directly to customers. Through its products and services, Amica Life aims to be the most trusted and innovative service provider by securing and simplifying the most important aspects of its customers’ lives.The company has also earned a rating of A+ (Superior) from A.M. Best, a leading insurance rating agency and the nation’s authority on insurance company financial stability. For more information, visit AmicaLifeLessons.com.

About iPipeline

iPipeline 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 firm management.

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.

For iPipeline:

Lisa Shea
Marketing
lshea@ipipeline.com
484 870 6234

For Amica:

Media inquiries can be directed
to MediaCenter@amica.com

Sagicor’s DTC Portal Delivers Premier Customer Experience Powered by iPipeline’s Resonant NB&UW and DocFast e-Delivery Solutions

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.”

“Underwriting 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 outstanding support.”

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 marketing@ipipeline.com today.

About Sagicor

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.

About iPipeline

iPipeline 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 firm management.

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.

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