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iPipeline (Exton, Pa.) has announced Raymond James (St. Petersburg, Fla.) and OneAmerica (Indianapolis) will deploy iPipeline’s DocFast e-Delivery solution. Designed to optimize digital interaction between sellers and their customers, DocFast will initially be used to deliver life insurance policies and related documents based on a collaborative workflow including the insurer, distributor, financial advisor and customer, according to the vendor. Raymond James currently has approximately 7,200 affiliated advisors.
“The insurance industry prints billions of pages of documents per year to do business,” comments Tim Wallace, CEO, iPipeline. “This is done at an astronomical cost, and this paper-based process creates roadblocks to streamlining the selling and buying of insurance. Today’s digital customer expects communications and documents, including insurance policies, to be delivered electronically. DocFast has been designed to fulfill this need specifically for the insurance industry. Raymond James and OneAmerica are leading the way and setting the pace for others to follow.”
“At Raymond James, we embrace technology that enhances the advisor client relationship and that strengthens our position as an industry leader in technology,” comments Beth Maziad, senior VP, Private Client Group Investment Product Operations, Raymond James. “Our ability to exceed the expectations of clients includes providing them with the best client experience, technologies, and a higher caliber of service.”
“DocFast is designed to specifically meet the needs of the life insurance industry and is an easy-to-use tool for our advisors to help better serve their clients,” Maziad continues. “Our recent pilot with OneAmerica demonstrated positive results, and we see the solution launch taking us one step closer to achieving our digital transformation goals. e-Policy delivery for life insurance will be rolled out to clients first with annuity contract deliveries following in the future.”
“The ability for our customers to use DocFast to review our policies through Raymond James is a tremendous step forward,” comments Gregg Poston, VP, Individual Operations, OneAmerica. “At OneAmerica, we’re committed to continually improving customer experience, and Raymond James’ deployment of DocFast makes doing business easier, faster and more efficient for financial professionals and policyholders.”
Unique e-Delivery Solution
“Based on their extensive knowledge of how the life insurance industry works, iPipeline has created a unique e-Delivery solution to enable us to more effectively engage our digital customers. DocFast has filled a technology gap, and we are pleased to be working with Raymond James on the rollout,” Poston adds.
DocFast for e-Delivery is also now available with what iPipeline characterizes as its unique upsell feature, which allows the customer to increase coverage based on pre-approved amounts. The vendor describes the feature’s process as follows: customers receive pre-approved coverage options that encourage policy upsell opportunities. Customers can also increase their death benefit, change term lengths, and select payment modes in an intuitive user interface. Premiums are automatically recalculated and policies amended without a lengthy re-issue process.