The Fed's latest news has prompted another round of what-ifs.
Deadline is June 30, 2014. Applications available at www.lidma.org
ATLANTA, GA - June 10, 2014 - The Life Insurance Direct Marketing Association (LIDMA) is now accepting applications from top companies in the life insurance industry who seek LIDMA’s “Seal of Approval” for technological and procedural enhancements that improve the customer buying and fulfilment experience.
Now in its fourth year, the Seal of Approval program was inspired by LIDMA’s eProcess improvement initiatives which were originally developed and are continually updated by LIDMA-affiliated carriers, vendors, attorneys, and producers. LIDMA’s eProcess reduces costs for carriers and providers and also improves the buying experience for customers. Companies which demonstrate adherence to the initiatives are eligible for a LIDMA Seal of Approval which is valid for two years.
“More and more companies are earning our Seal of Approval which is a great indicator that our industry is adopting eProcess improvement initiatives as a way to not only improve bottom line, but also produce life insurance policies for households and businesses faster,” said Maura A. Reilly, LIDMA’s Process Improvement Co-Chair and Vice President of Sales Operations at SBLI of Massachusetts.
LIDMA staff will conduct a thorough review to ensure each applicant’s technological or procedural improvement initiative is active or in an advanced stage of development. Common initiatives include Enhanced Part 2 Collection, eSignature, and ePolicy delivery. LIDMA member carriers that have created their own improvement initiatives are also eligible for a LIDMA Seal of Approval. Only LIDMA member companies are eligible for a “Seal of Approval.”
Applications are available now at www.lidma.org and will be accepted through June 30, 2014.
Companies earning the Seal of Approval must submit an addendum to their original application every two years in order to maintain their Seal. The addendum should include statistics which reflect the impact of the improvement initiatives or other demonstrations of progress.
LIDMA is the primary association dedicated to supporting businesses and professionals active in direct sales of life insurance products to consumers – the fastest growing sales segment in the life insurance industry. The not-for-profit organization is committed to helping members boost their revenues and reduce costs. For more information, visit www.lidma.org.