Acquisition Further Expands the Life Insurance Industry’s Most Comprehensive Solutions Platform
Exton, PA (January 23, 2017) – iPipeline® – a leading provider of cloud-based software solutions for the life insurance industry – today announced the acquisition of Resonant®, an emerging provider of Integrated Life Underwriting Solutions (ILUS). The acquisition further expands iPipeline’s industry-leading platform, moving them to the forefront of automated underwriting with Resonant’s breakthrough software and innovation. Resonant’s self-service capabilities allow insurers to define, manage products, and operationalize underwriting guidelines in a Microsoft Word-like format. Resonant’s customers experience a 30% productivity improvement and a 90% faster pace of change while maintaining 100% compliance.
“iPipeline’s acquisition of Resonant comes at a time when the industry needs to achieve higher levels of automation for underwriting activities. Although underwriting has been traditionally a manual, labor intensive activity, it can be substantially automated by addressing the complete lifecycle,” said Tim Wallace, CEO, iPipeline. “Resonant’s unique ILUS is driven entirely by customer-stated guidelines, which are based on business decisions and processes, so this allows insurers to easily manage products and their operational and underwriting guidelines. Our goal is to take the complexity out of the underwriting tasks through automation while allowing each insurer to manage to their risks. The acquisition of Resonant will enable our customers to achieve greater operational efficiencies and speed-to-market advantages to fuel growth.”
Resonant’s Adaptive Process Platform is at the heart of ILUS and addresses the complete lifecycle of the new business and underwriting process, starting with guideline definition, case management, decision support, and real-time monitoring of all business decisions and processes. The Adaptive Process Platform aggregates information gathered from users and third party vendors and can straight-through automate and process compliant cases, whether they are medically underwritten or jet underwritten. Resonant’s ILUS also facilitates underwriter decisions when needed and manages all activity in the end-to-end new business and underwriting process. All actions and decisions are driven entirely from the stated guidelines.
“Most insurers find that their underwriting technology has yet to achieve a high level of effectiveness. This is what is unique about Resonant’s ILUS. We fit a sweet spot that no one else has been able to fill,” said Dr. Brian Falkenhainer, Founder and CEO, Resonant. “As a complement to iPipeline’s industry-leading platform, we offer today’s most advanced new business and underwriting solution at the industry’s lowest cost of ownership, with deployment in as little as 90-days. We are confident that our ILUS will serve as a strong addition to the iPipeline platform.”
“We are excited to welcome the Resonant employees as part of our team. Dr. Falkenhainer and his team have built a great technology and customer base that fits well with our product portfolio as we continue to pursue strategic acquisitions to complement our platform,” said Larry Berran, COO & CFO of iPipeline. “Resonant is carving out a leadership position in the deployment of next-generation ILUS, and we are pleased to offer this solution to our customer base.”
To learn how you can implement iPipeline’s Resonant ILUS to support your automated underwriting needs, contact firstname.lastname@example.org or call 1-800-758-0824, option 2. Visit http://resonant-software.com/.
Resonant offers process management and decision support applications for life insurance carriers that substantially improve the discipline and productivity of underwriting and new business operations. Working directly from product, operational, and regulatory guidelines, Resonant’s applications leverage existing systems to provide a unified environment that intelligently manages the overall process down to the individual case. The result is improved productivity, streamlined compliance activities, and accelerated decision making. http://resonant-software.com/
iPipeline is a leading provider of cloud-based software solutions for the life insurance industry. Through our SaaS solutions, we accelerate and simplify insurance sales, compliance, operations and support. We provide process automation and seamless integration between every participant in the life insurance industry including carriers, agents (such as financial advisors and independent insurance agents), distributors (such as banks, broker-dealers and general agencies) and consumers. Our innovative solutions enable automated processing for pre-sales, point-of-sale execution of applications, post-sale support, reporting, consumer delivery and agency management.
iPipeline provides the process automation and seamless integration needed on a global basis to make a sale by aggregating more than 120 carriers, 875 distributors and financial institutions, and their producers and licensed advisors in a cloud-based environment. With headquarters in Exton, Pennsylvania, iPipeline has locations in Cheltenham (UK), Fort Lauderdale, Huntersville, Philadelphia, Salt Lake City, and Vancouver. Save the date for iPipeline’s Connections 2017 User Meeting & Conference on March 15-17 at the ARIA in Las Vegas. Visit www.ipipeline.com.
# # #