Digital Transformation Enables Life Insurers and Agents to Overcome Work-at-Home Challenges from the COVID-19 Outbreak
EXTON, (May 12, 2020) – iPipeline® – a leading provider of cloud-based software solutions for the life insurance and financial services industry – today announced the use of its SSG Digital® platform with electronic application and e-Delivery is trending upwards. iPipeline cites increases for the year-over-year period ranging from April 2019 to April 2020 of 20% for e-Application submissions and 52% for e-Policy deliveries. The volume for e-Policies delivered in the month of April 2020 compared to April 2019 has increased by 217%. Much of this trend is being attributed to the effectiveness of agents using its transformative technologies to support selling and buying activities in the current work-at-home COVID-19 environment.
“COVID-19 will have an on-going impact on how the life insurance and financial services industry conducts new business and customer support functions going forward. Digital technologies are clearly worth their weight in gold, and those who have moved forward with the implementations to support critical business functions are in a great place,” said Larry Berran, CEO, iPipeline.
“For customers and non-customers who need digital products to overcome the challenges imposed by the current work-at-home environment and strengthen business continuity, we have extended a 90-day free offer to see them through this period. We have had several insurers take us up on it, particularly to leverage e-Delivery and e-Signature to keep things moving. We are pleased to be of assistance to the industry during this time of crisis.”
“While I see the challenges imposed on the industry at this time, I also see this as an opportunity to find new ways to conduct business remotely. Whether it is underwriting without conducting physical inspections or using remote application processing, e-Delivery and e-Signature to ensure the safety of agents, advisors, and customers, there is a way forward,” said Tom Scales, Head of Life & Health Insurance, Americas, Celent. “Carriers and distributors implementing digital technologies, like those offered by iPipeline and other tech providers, stand a good chance of effectively riding out this disruptive storm.”
iPipeline’s SSG Digital is the most extensive straight-through processing platform for the largest ecosystem in North America. The digital platform addresses the life insurance and financial services industry’s most critical business needs by enabling customers to:
- Digitize Business
- Distribute Products Anytime, Anywhere
- Quote & Illustrate Life Insurance
- Streamline New Business & Underwriting
- Deliver Policies & Documents
- Enrich the Agent, Advisor & Consumer Experience
- Modernize Policy Administration
- Create a Customer Portal
- Leverage Data Analytics & AI
- Launch & Manage New Products
- e-Sign Documents Securely
For more information on how you can optimize use of iPipeline’s SSG Digital platform to effectively execute critical business activities in the current COVID-19 environment and its aftermath, contact your assigned sales representative, [email protected], or call 1-800-758-0824, option 2.
iPipeline is a leading provider of cloud-based software solutions for the life insurance and financial services industry. Through our SSG Digital, end-to-end platform, we accelerate and simplify sales, compliance, operations and support. We provide process automation and seamless integration between every participant in our ecosystem including carriers, agents, general agencies, advisors, broker-dealers, RIAs, banks, securities/mutual fund firms, and their consumers on a global basis. Our innovative solutions include pre-sales support, new business and underwriting, policy administration, point-of-sale execution of applications, post-sale support, data analysis, reporting, user-driven configuration, consumer delivery and self-service, and agency and firm management.
iPipeline’s platform is used by approximately 150 carriers, 1,400 distributors and financial institutions, and their agents and licensed advisors in a cloud-based environment. With headquarters in Exton, Pennsylvania, iPipeline has locations in Bromley (UK), Burlington (Canada), Cheltenham (UK), Dallas, Fort Lauderdale, Huntersville, Ontario (CA), Philadelphia, Pleasanton, and Salt Lake City. Visit www.ipipeline.com.
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