(Image source: BCSIA homepage.)
BCS Insurance Agency (BCSIA; Oakbrook Terrace, Ill.) will offer fixed and fixed indexed annuity products through Four Seasons Financial Group (Marlton, N.J.) using SimplyAnnuity, powered by iPipeline’s (Exton, Pa.) multicarrier AFFIRM for Annuities order entry module, according to an announcement from iPipeline.
The vendor describes AFFIRM for Annuities as a compliance and order management system designed to integrate a carrier’s complex product rules with a distributor’s compliance processing requirements (customized workflows and suitability reviews) to generate transactions that are “in good order.” Compliant annuity applications are electronically submitted to carriers for processing after successfully passing all supervisory reviews.
“While our partners have traditionally sold health insurance products, we made the strategic decision to break the mold, automate the process using SimplyAnnuityT, and offer fixed and fixed indexed annuities to our partners,” comments Dave Burghard, President, BCSIA. “Our philosophy is simple: insurance and financial products should be easy to purchase and simple to understand. Our decision to offer these annuities is just another part of our expanding capability to provide families what they need now and in the future.”
Four Seasons Financial has historically partnered with what it identified as key financial services organizations—banks, broker-dealers, credit unions—but is now marketing to insurers to strategically expand its product offerings of life insurance and annuity products, automate the selling and buying process, and grow its revenue, according to Jim Sorebo, the firm’s CEO.
“BCSIA represents the future of one-stop selling and purchasing of diversified products,” Sorebo comments. “Given the right tools and support, there is a huge, untapped opportunity to sell these simple annuity products. SimplyAnnuityT, powered by AFFIRM, has proven to be a powerful tool to streamline our business processes, and we are confident BCSIA will have the same experience.”
Value-Added Approach to Selling
“BCSIA’s value-added approach to selling makes perfect sense to agents looking to offer their clients diversified financial services,” comments Tim Wallace, CEO, iPipeline. “Customer loyalty hinges on the buyer’s perception of value and service delivery. With Four Seasons Financial providing BCSIA access to iPipeline’s advanced AFFIRM for Annuities platform, BCSIA will be better positioned to meet its mission of providing a full portfolio of products to its distribution partners.”