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Transforming the Traditional Life Insurance Application Process

Transforming the Traditional Life Insurance Application Process

FAST FACTS

  • Insurers are now searching for ways to set themselves apart by improving efficiency while providing their customers with faster, simpler and more intuitive customer experiences
  • EPAM and iPipeline partnered to create and deliver the only new customer acquisition platform on the market — powered by iPipeline’s SSG Digital platform — and offer an all-in-one package that is easy for insurers to install and customize
  • With the ability to integrate all key products into one digital platform, insurers can benefit from automated intake, illustration, policy generation and e-delivery, allowing brokers/agents to open a new policy in just five simple steps 

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BENEFIT & VALUE

  • This digital solution replaces traditional paper-based policy application and generation processes
  • The eApplication process is integrated into an all-in-one package, simplifying work for brokers/agents
  • An all-digital approach allows for the automation of key processes such as intake, policy generation and e-delivery
  • Faster, more intuitive processes improve client retention and save significant time and effort for insurers

How It Works

With EPAM and iPipeline’s All-in-One eApplication solution, policies which could previously take weeks or months to complete can be finalized in a simple, five-step process:

  1. Enter the customer’s personal information
  2. Receive an instant quote
  3. Review illustrations and revise/select the ideal plan
  4. Click to generate and delivery the personalized policy via email
  5. Utilize e-Signature to finalize the sale and receipt of the policy