(Image source: TCP Life Systems website.)
iPipeline (Exton, Pa.) a provider of cloud-based software solutions for the insurance and financial services industry, has announced its acquisition of TCP LifeSystems (Bromley, Kent, U.K.), a software solutions provider to life and pensions insurance companies in the US, UK, Canada, and Ireland. TCP’s digital Policy Administration System module, used by major insurers in the U.K. and Ireland, offers billing, claims, reinsurance, a policyholder portal, and distribution management. By combining Resonant underwriting, iGO e-App and DocFast for e-Delivery with the new PAS module, iPipeline says it is better able to support the digital ambitions of its customers. iPipeline declined to share the terms of the deal.
The acquisition of TCP LifeSystems marks iPipeline’s debut as a policy admin system vendor, representing its commitment to deliver the industry’s most comprehensive and modern platform for the financial services industry, according to Tim Wallace, CEO, iPipeline. “Consumer expectations have changed, and they want a faster self-service and digital experience,” he says. “This reality applies to our industry which is often labelled as being slow to adapt.”
“Our customers’ investments in transformative technology are key to meeting the industry’s evolving needs and to ensuring consumer expectations are met by offering financial solutions when they need them, Wallace continues. “We are excited about the acquisition and the potential to deliver increasing value to our customers by adding integrated PAS to our platform.”
Maximizing Efficiency and Improving the Customer Journey
“iPipeline has repeatedly demonstrated the value of its innovations within North America and the U.K., positively impacting the growth of the financial services industry,” comments Ashley Hale, Managing Director, TCP LifeSystems. “TCP LifeSystems’ digital PAS technology has been developed to maximize efficiency and improve the customer journey, and we see this addition nicely complementing iPipeline’s industry-leading offerings. By bringing iPipeline and TCP LifeSystems together, we will be able to further streamline processes to deliver outstanding value for the carrier, distributor, agent, and consumer.”