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iPipeline (Exton, Pa.) a provider of cloud-based software solutions for the insurance and financial services industry has launched iGO link, which the vendor says allows agents to complete a paper application while leveraging the benefits derived from iGO e-App for straight-through processing speed.
Despite the move toward digitization within the industry, paper applications are still being submitted by agents and processed in abundance, notes Tim Wallace, CEO, iPipeline. “The use of paper adds enormously to processing costs, introduces errors, leads to delays and cycle time, and results all too often in lost business,” he says. “The good news is iGO Link solves the problem and is already in use with a top 10 U.S life insurance carrier. iGO e-App customers already have the majority of what they need in place. Future iGO e-App customers can simply add iGO Link as a powerful capability in their end-to-end digital strategy.”
Allowing Agents to Use Preferred Submission Method
Agent behavior is very difficult to change, but iGO Link can easily digitize, correct and process a paper application to produce an in Good Order application without changing the agent’s preferred submission method, according to Bill Atlee, Chief Strategy Officer, iPipeline. “We use machine learning to convert the paper app to XML data, without data entry, and produce an iGO e-App,” he comments. “Agents can still complete a paper application and then electronically clean and e-Submit it for accelerated, straight-through processing. The gains are enormous. Carriers can also leverage their existing iGO e-App infrastructure to now achieve 100 percent agent adoption. iGO Link has the potential to deliver a rapid and substantial ROI to insurers using this innovation.”