LIDMA Names Process Improvement Advisory Team

- Team of top life insurance industry professionals will be instrumental in spreading the adoption of LIDMA’s new “E-Process” throughout the industry -

ATLANTA, GA – May 22, 2008  -- The Life Insurance Direct Marketing Association (LIDMA) has named several leaders from the direct response niche of the life insurance industry to its new Process Improvement Advisory Team. 

The Process Improvement Advisory Team of LIDMA will focus on facilitating adoption of LIDMA’s new “E-Process” to carriers, agencies and producers throughout the industry.  In addition to naming new committee members, LIDMA has also developed a selection of resources to assist companies and producers in implementing the new process.  

Unveiled last year, the LIDMA “E-Process” was developed by a large contingent of LIDMA members including carriers, technology vendors, industry attorneys and front-line producers.  The LIDMA “E-Process” utilizes newly developed industry technologies including e-signature, e-delivery and credit card processing to substantially reduce the time it takes for a new policy purchases to be initiated by the consumer and delivered by the carrier which is anticipated to produce numerous benefits including:

• Increase Direct Marketer revenue by over $20 million per year
• Improve placement ratios by 3%
• Reduce touch-points and cycle time by weeks
• Increase “IGO” cases by at least 15%
• Decrease administrative costs by over 5%
• Improve customer experiences

“Our ‘E-Process’ has been highly touted in the industry as a way to increase profit margins and allow professionals to provide life insurance to the ‘middle America’ population,” says Todd Ewing, Chairman of the LIDMA Process Improvement Team.  “The top priority of the team will be to work with the key early adopters of the “E-Process” to aid in adapting new technologies and merging electronic processing efficiencies into existing systems.  In putting the process together we learned quite a lot; this is an effort to share that information with our members.”

Members of the LIDMA Process Improvement Team are:

• Todd R. Ewing, VP of term life sales, Transamerica
• Clay Kittrell, CEO, Voice Signature
• Grant Andrew, VP of national accounts, Prudential
• Jeff  McCauley, VP of life sales,  Fiserv
• Stacy R. Steuart, VP of sales, Genworth Financial
• Kris Tomasini, Development Consultant for Direct Markets, Transamerica

“LIDMA’s ‘E-Process’ is a tremendous tool for the industry that can have a significant effect on policy volume, profitability and customer satisfaction,” says Kittrell.  “Our job now is to ensure it is adopted properly and effectively by the industry.”

Companies interested in adopting the new LIDMA “E-Process” have access to a number of resources developed by the Process Improvement Team including participation in webinars, conference calls and e-mail updates.  Access to these resources is available at http://lidma.org/eprocess.

In addition to working on the proliferation of the new “E-Process,” the committee will also work on enhancements to the “E-Process” to take advantage of new technologies and regulatory reform that can further enhance the operations and sales of life insurance professionals.

About LIDMA

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 derived through direct response sales as well as assisting new entrants adapt and succeed in their direct response efforts.

For more information visit www.lidma.org.

Media Contact:

Michael Biagiotti
(561) 620-8781
[email protected]