(Image source: Catholic United Financial homepage.)
Conventus Now, a joint venture between Catholic Financial Life (Milwaukee, Wisc.) and Catholic United Financial (St. Paul, Minn.), has selected iPipline’s SSG Digital Platform with a next-gen Policy Administration System (PAS) for individual life and annuity products. Conventus Now will use the iPipeline platform to accelerate growth, improve member services, and lower the cost of new customer acquisition, according to a vendor statement.
Designed as a device agnostic, omni-channel solution, iPipeline’s SSG Digital Platform with PAS for Conventus Now includes quoting, illustrations, e-App, underwriting, e-Delivery with e-Signature, claims, member servicing, product calculations, commissions, billing and self-maintenance. “iPipeline’s SSG Digital Platform with PAS functions as the heart of any organization with seamless integrations into core business systems and an optimized user experience to power the insurer’s growth strategies,” according to a vendor statement.
“Legacy platforms are not device agnostic, do not effectively scale, and fall short of supporting regulatory laws and rapid changes in the marketplace,” comments Larry Berran, CEO, iPipeline. “These limitations stem from old ‘siloed’ technologies, which can negatively impact success and profitability. Conventus Now wants to bring the benefits of digital transformation to their own organizations and fraternal insurers, and they want to reduce the time to market for new products and better service the financial needs of member families. We are excited to collaborate with Conventus Now on this extensive end-to-end platform implementation.”
“Conventus Now is focused on modernizing new business and in-force operations for its fraternal insurers with next-generation technologies that lower the cost of customer acquisition and better service the needs of our members, according to Jeff Piotrowski, Senior VP, Information Technology and Insurance Services, Catholic Financial Life. “iPipeline’s industry leadership and record of success emerged as the key factors influencing our decision to move forward with the platform,” he comments. “The addition of next-gen PAS to the platform has further extended iPipeline’s value proposition. Their PAS has had a highly positive impact on how insurers work and service the needs of customers in the UK, and we see it having the same positive impact for us here. The comprehensive platform will substantially lower our cost of ownership, open new selling channels, and streamline how we service the needs of our members.”
Path to the Future
“The American Fraternal Alliance is a strong advocate of implementing technology innovations to improve business processes for today’s fraternal insurers,” comments Joseph Annotti, President and CEO, American Fraternal Alliance. “The path to the future lies in simplifying and streamlining how we all work to the benefit of our member families. Advanced technologies have the power to drastically improve our effectiveness as a fraternal alliance. iPipeline’s SSG Digital Platform for Conventus Now will serve as a catalyst for positive change and drive digital transformation within our industry.”
iPipeline describes its SSG Digital core platform as designed to enable the life insurance and financial services industry to automate and simplify all new business, administration, and in-force management tasks to achieve desirable business outcomes.