News : SBLI Simplifies Accelerated Underwriting Program with iPipeline
Exton, PA, USA, July 9, 2019 -- iPipeline, a provider of cloud-based software solutions for the life insurance and financial services industry – announced SBLI (The Savings Bank Mutual Life Insurance Company of Massachusetts) has implemented iGO(R) Drop Ticket to simplify its Accelerated Underwriting program for independent agents and their customers.
iGO Drop Ticket is a rules-based short form, used by producers and call center support staff for insurance application processing. iGO Drop Ticket runs on iPipeline’s SSG Digital platform, which integrates directly with websites within the U.S.
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"The complexities of selling life insurance are vast and contribute to the high number of underinsured in the U.S. Between state regulations, numerous product options, and thousands of forms, selling this important part of a family’s financial future isn’t always easy," said Tim Wallace, CEO, iPipeline. "iGO Drop Ticket removes these barriers by simplifying what agents need to submit to a carrier to get the job done."
"Agents send the ticket and the accompanying data directly to the carrier’s call center system, freeing them to concentrate on selling more while the center handles behind-the-scenes processing," added Wallace. "This means more commissions for agents, better efficiency at call centers, and faster policy issuance for families seeking coverage. We are pleased to be a part of SBLI’s Accelerated Underwriting program."
"The industry averages around 30 days for the issuance of life insurance after the application is submitted, and this is just too long for our customers. By expanding our drop ticket coverage to include iPipeline customers, we are increasing the opportunity for producers to submit business to SBLI more easily. Additionally, by using our award-winning Accelerated Underwriting program for agents and their consumers with iGO Drop Ticket, more than half of our Accelerated Underwriting decisions can be made in five days or less for up to $500K in coverage," said Denis Clifford, SVP, Chief Distribution Officer, SBLI. "This program is being made available to all consumers and distributors, regardless of the risk class, to simplify and speed processing. We are excited to be able to more rapidly insure families seeking affordable protection with the help of iPipeline’s innovations."
Posted by Veronica Silva Cusi, news correspondent
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iPipeline leads its industry in providing the next-generation suite of sales distribution software to the insurance and financial services markets through its on-demand service. iPipeline's channel solutions for carriers, distributors, and producers automate activities for CRM, forms distribution and processing, quotes and illustrations, in Good Order e-Applications, agency management, data services, policy delivery and related services, enabling the insurance industry to market, sell, and process faster.
Published: Thursday, July 11, 2019
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