Reflexive questions and an automated rules engine mean less hassle, fewer labs — and more families protected. And that’s just the start.
Inspired by a tradition of innovation, Legal & General America (LGA) is on a mission to simplify and streamline the life insurance application process — aiming to reduce inconvenient, time-consuming medical exams and increase the number of Americans protected with life insurance.
In the last year alone, LGA launched a new digital application platform and enhanced accelerated underwriting as part of that mission. Now, they’re rolling out an exam substitution program that will bring a lab-free experience to even more Americans.
This continues decades of pushing the technology of life insurance forward, allowing agents to spend less time on applications and case management, and more time finding families to protect.
Legal & General America’s journey to simplifying life insurance started in 2004 with AppAssist, an innovative, best-in-class tele-application program. With AppAssist, advisors drop a ticket, and an experienced, in-house team takes over the application fulfillment and case management.
The results were instantly clear — advisors spent less time on applications and more time finding new clients. And customers loved the personalized service provided on a call scheduled at their convenience.
But LGA didn’t stop there. In 2009, they were one of the first in the industry to offer eDelivery — life insurance policies signed and issued electronically to customers at no additional cost. Once again, this benefits both customers and agents. On average, eDelivery policies are activated two weeks sooner, while agencies save valuable time and money. Today more than 70% of customers take advantage of the service.
Then in 2016, LGA launched its first foray into accelerated underwriting with AppAssist clients. It used automated rules-based technology and data to make exam-free decisions for eligible applicants. There was room to grow, but it was clear the underwriting process would never be the same — leading to where they are today.
The future is here for many
And where they are today is pretty exciting. With a digital application platform and an enhanced accelerated underwriting process, LGA offers a faster, better application and underwriting experience specifically designed for the next generation of customers.
Here’s how it works:
- Clients complete a convenient application online or over the phone with optimized question sets that cut down on time and help collect the most relevant information.
- The online application takes less than 20 minutes to complete; it can be signed, paid and delivered electronically and an exam is scheduled, if needed
- Here’s the best part: More than 25% of cases are approved exam-free, allowing policies to be approved in just a few days. And these days, getting it all done from home is best.
- Even for those who aren’t approved exam-free, this process shortens underwriting review and reduces cycle time.
All in all, LGA’s accelerated underwriting is a dream for agents — more clients approved with less work.
“We’ve embraced a new age in the life insurance industry where adoption of new technology and capabilities is spurred by a renewed focus on putting the customer’s needs first — providing affordable coverage quickly and without paper or undue hassle,” says Jennifer Torneden, LGA senior vice president of Sales & Strategic Growth.
As they look to the future, Legal & General America’s journey to simplify life insurance continues.
With the launch of a new exam substitution program, LGA will increase opportunities for accelerated, lab-free underwriting for both paper and digital applicants. Eligible clients can substitute traditional exams with Electronic Health Records or an Attending Physician Statement.
This program, which LGA rolled out as a temporary measure due to the challenges of obtaining parameds during the COVID-19 pandemic, means an additional 20% of underwriting applicants could enjoy an exam-free journey to life insurance coverage. And when they get there, those eligible for substitutions will have the option to lock in up to $2 million in coverage.
To further advance its digital and automated underwriting capabilities, LGA recently appointed Dawn Boitnott to the new position of Chief Underwriter & Underwriting Transformation Officer. “We’re continuing to move beyond the invasive medical underwriting process by building out a comprehensive, optimized and flexible automated rules engine within our digital platform,” Boitnott said. “I’m thrilled at the progress this industry has made over a short time, and over the coming years we’ll innovate in ways that we can’t even imagine yet.”
Better by the day
Since the digital application platform launched, LGA has been constantly updating and improving it. From providing a flexible, online agent hub that turns drop tickets into applications to adding sign, issue and payment functions to the eDelivery platform — LGA is committed to always improving the digital application experience.
So is life insurance 100% lab-free yet?
No, not yet. But Legal & General America continues to expand its boundaries with the ultimate goal of helping people. In the meantime LGA offers a better, faster, more convenient experience for agents — and more Americans enjoy the protection of life insurance.
Visit LGANewDigitalPlatform.com to access more information about our digital application platform, including training guides, videos and more.
All statistics based on platform experience in Q3 2020
*The new digital application is available for Banner Life business only at this time and is not available in New York.
Legal & General America life insurance products are underwritten and issued by Banner Life Insurance Company, Urbana, Maryland, and William Penn Life Insurance Company of New York, Valley Stream, NY. Banner products are distributed in 49 states and in DC. William Penn products are available exclusively in New York; Banner does not solicit business there. Clients who do not fit all automated underwriting eligibility requirements may need to submit additional information like a paramedical exam or other labs or medical records. For broker use only. Not for public distribution. The Legal & General America companies are part of the worldwide Legal & General Group. 20-253
A Timeline of Technology
2004 – Tele-application program AppAssist debuts. This leads to 98% of completed interviews becoming formal applications.
2007 – AppAssist adds Voice Signature capability, allowing applications to be submitted to underwriting within 24 hours. It eliminated mailing delays and shaved nearly three weeks off the application process.
2009 – LGA launches one of the first eDelivery services in the life insurance industry. The robust service saves time for customers and racks up awards.
2011 – MobileSuite app is launched, allowing agents to run a quote, drop a ticket and get case status — all from their smartphone.
2014 – LGA launches Get More, which offers increased coverage options to eligible applicants with no additional underwriting.
2016 – The company takes its first step toward automated underwriting for eligible applicants through the AppAssist program.
2019 – LGA pilots a new digital application and an accelerated underwriting process, making lab visits a thing of the past for eligible applicants.
2020 – A new exam substitution program brings an accelerated underwriting path paper applications and allows more cases from the digital platform to be approved lab-free.