Genworth Launches Annuity Smart Application Process

Richmond, VA (December 8, 2015) – Genworth has launched the Annuity Smart Application Process℠ (“ASAP”), a free electronic platform designed to help financial professionals improve the accuracy of annuity applications, boost productivity and improve the customer experience.

Not In Good Order (“NIGO”) mistakes can require some forms to be re-submitted resulting in delayed processing and a reduced experience for the consumer.  NIGOs can include common paperwork errors such as making incorrect calculations or not completing all required forms.

“Submitting business electronically through ASAP reduces NIGO errors, allowing financial professionals to get on to the next client and get paid faster,” said Eric Taylor, vice president and national sales manager for Annuities at Genworth. “The end result is a faster, more user-friendly and accurate process.”

The forms used in the electronic platform are identical to the paper application process, eliminating any potential learning curve for financial professionals already familiar with the traditional forms.

ASAP uses several features to help mitigate application errors:

• Numbers Check:  ASAP uses an auto-fill component that checks users’ math as they navigate the application.  This is particularly helpful when inserting different crediting strategies that require multiple calculations.

• Help Bubbles: Within the more complex areas of the application, users can click on help bubbles that provide situational guidance to help fill out the forms properly.   

• Form Rules: Based on form entry, fields will be opened (or closed) for completion, and the correct form package will be added to the application.

The new platform is fully compatible with Genworth’s SecureLiving^® Index 10 Plus, SecureLiving^® Index 7, SecureLiving^® Index 5, and SecureLiving^® Growth+ with Income Choice rider.

About Genworth Financial

Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 insurance holding company committed to helping families become more financially secure, self-reliant and prepared for the future. Genworth has leadership positions in mortgage insurance and long term care insurance and product offerings in life insurance and fixed annuities that assist consumers in solving their home ownership, insurance and retirement needs. To help families start “the talk” about their futures and long term care planning, Genworth recently completed the first stage of its national #LetsTalk Tour to encourage conversations and information sharing. Headquartered in Richmond, Virginia, Genworth traces its roots back to 1871 and became a public company in 2004. For more information, visit genworth.com.

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