(Photo credit: Sarah Stierch, CC BY 4.0.)
OneAmerica, an Indianapolis-based mutual life insurance and financial services holding company, has launched accelerated underwriting through adoption of iPipeline’s (Exton, Pa.) Resonant New Business and Underwriting solution.
“Consumers and agents have high expectations for fast, reliable services and products, and we need to stay ahead of these expectations,” comments Gregg Poston, VP, Individual Operations, OneAmerica. “Resonant is a platform that will support our growth now and well into the future by enabling us to offer less-invasive testing, rapid-issue or even instant-issue policies based on predictive analysis of electronic information from internal and external sources. Combined with iGO e-App and DocFast for e-Delivery, we’re able to offer agents solutions that help them build better relationships with their customers and with OneAmerica.”
iPipeline describes Resonant as a next-generation new business and underwriting solution for all life insurance, annuity, disability and long-term care products. The vendor touts what it calls unique guideline-driven technology allows insurers to define and manage their product definitions, underwriting manual, regulatory compliance and workflows in a Microsoft Word-like format. Resonant is designed to optimize data entry, in-good-order enforcement, correspondence, case management, underwriter workbench tasks, requirements management, and accelerated or automated underwriting, according to iPipeline.
“The future for underwriting is clear,” comments Tim Wallace, CEO, iPipeline. “We need to automate what has typically been a protracted and frustration-filled process. This means implementing next-generation new business and underwriting solutions with easy-to-use tools to simplify tasks, mitigate risks, render faster decisions, and improve placement ratios. Predictive modeling is also in play, and this will improve competitive positions for early adopters.”
True Power User
“Resonant has been well-received by the industry, and Q4 delivered several new customers for us,” Wallace adds. “OneAmerica is a true power user of iPipeline digital technologies, and we look forward to collaborating with them on the next step of their journey with Resonant toward accelerated underwriting.”
OneAmerica’s products include retirement plan products and recordkeeping services, individual life insurance, annuities, asset-based long-term care solutions and employee benefit plan products. The products are issued and underwritten by the companies of OneAmerica and distributed through a nationwide network of employees. OneAmerica companies include American United Life (McKinney, Texas), The State Life Insurance Company (Indianapolis), Pioneer Mutual Life (Laramie, Wy.), and OneAmerica Retirement Services LLC (Indianapolis).