Crump Launches Policy Application Summarization and Underwriting Services Through New Risk Righter Division

<p>Business Editors/Insurance Writers</p> <p>ROSELAND, N.J.--(BUSINESS WIRE)--October 28, 2008--Crump Life Insurance Services, a leading wholesale distributor of insurance products in the United States, has launched Risk Righter TM, a new service that supplies summarization and electronic delivery of life insurance policy application medical files and associated documents to support the new business process.</p> <p>“One of the most pressing issues for life insurance carriers, and the industry, today is the growing number of lengthy informal applications with large medical files and low placement rates,” said Brian Winikoff, president of Crump Life Insurance Services. “To address this, we successfully created a process to efficiently summarize medical files, enabling carriers to make offers much more quickly and cost-effectively.”</p> <p>Risk Righter, a new business unit within Crump’s independent subsidiary, AgencyWorks, was created to offer these underwriting summarization and technology services to carriers, as well as to general agencies.</p> <p>The Risk Righter summarization process was designed by underwriters with the needs of underwriters in mind, and is fully compliant with HIPAA regulations, leveraging advantages in process, technology and trained medical professionals. Explained Mike McCarty, Risk Righter vice president, “This process is an efficient and proven method within the life insurance industry, and has significantly reduced paper submissions to carriers. Initial carrier client experience has validated a 99% file review accuracy rate.”</p> <p>Continued McCarty, “Building off the experience of our national team of underwriting professionals, we are uniquely positioned to understand the challenges and issues in the industry today, enabling us to create a solution that works for us and will work for others equally well.”</p> <p>Similar to the business model successfully employed by AgencyWorks, Risk Righter utilizes audited and approved firewalls to maintain the information and confidentiality of all client data. Added Winikoff, “As with our AgencyWorks subsidiary, we are leveraging the technology and processes developed by Crump, but the Risk Righter service is managed separately, providing the strictest protection to clients.”</p> <p>Inquiries about Risk Righter should be directed to Mike McCarty, vice president, at [email protected].</p> <p><em>About Crump Life Insurance Services</em></p> <p>Crump Life Insurance Services (formerly BISYS), is part of Crump Group, Inc., the largest wholesale insurance distributor in the United States and nations' largest independent administrator and recordkeeper for small- and mid-sized retirement plans. Crump Life is a prominent independent wholesale distributor of life insurance, linking a national network of approximately 200,000 financial services professionals with the products manufactured by approximately 100 highly rated insurance companies.</p> <p>Crump supports the distribution of traditional and variable life, long-term care, disability, annuity products and life settlements with the industry's premier sales and back-office support services.</p> <p>Crump's technology-driven insurance distribution solutions also include the insurance brokerage industry's most advanced Internet-based capabilities and the pre-eminent administration system to support all aspects of processing with multiple insurance companies.</p> <p>Crump Life Insurance Services includes the following businesses: AgencyWorks, Hanleigh, LifeSource, The Potomac Group, Risk Righter and TIME Financial.</p> <p>Risk Righter is a trademark of AgencyWorks, LLC</p>