(Image source: Illinois Mutual homepage.)
Illinois Mutual Life Insurance, a Peoria-based life, disability and worksite insurer doing business in 47 U.S. states and serves over 8,600 independent agents, has selected multiple systems from Sapiens International Corporation’s (Holon, Israel) life solutions as part of its digital transformation project. The insurer aims to deliver seamless illustration, eApplication, straight-through underwriting and intuitive enrollment functionality to its agents and customers.
Illinois Mutual selected Sapiens IllustrationPro for Life & Annuities, Sapiens ApplicationPro for Life & Annuities, Sapiens UnderwritingPro for Life & Annuities and Sapiens EnrollmentPro for Life & Annuities after a thorough market evaluation.
Illinois Mutual’s systems selection is part of a digital transformation with the objective of enhancing the overall client and agent experience within its life, disability income and worksite insurance solutions. The insurer sought to achieve this goal by enhancing its illustration capabilities, improving eApplication functionality and modernizing the underwriting system.
“We expect Sapiens IllustrationPro’s innovative illustration software to optimize sales and drive new business,” comments Katie M. Jenkins, president and chairperson, Illinois Mutual. “The illustration capabilities will differentiate Illinois Mutual from our competitors by helping to provide a superior and seamless customer experience. Additionally, Sapiens’ digital underwriting solutions offer best-in-class workflows and straight-through-processing to help Illinois Mutual modernize and transform the underwriting experience.”
“Sapiens’ point-of-sale solutions were built from the ground up, leveraging all the latest in digital technologies, to support Illinois Mutual’s current and future platform,” comments David Ratnaraj, assistant VP and program director, insurance systems modernization, Illinois Mutual. “The solutions possess a powerful configuration toolset and open APIs, and provide an integration services layer that will empower us to easily integrate to third-party products or services with minimal effort.”
End-to-End Life Platform
“Sapiens’ comprehensive, end-to-end life platform enables insurers to select the solutions that will most benefit their business. Our industry best practices and knowledge, combined with our advanced digital life insurance software and pre-integration, reduces implementation time and speeds time-to-market,” comments Roni Al-Dor, Sapiens’ president and CEO. “This provides the competitive advantage our clients demand. Sapiens is proud to have been chosen as a partner for a transformation project by a well-established and leading company such as Illinois Mutual.”
The vendor characterizes the Sapiens Platform for Life & Annuities as offering excellence in the administration of the insurance business and creates greater efficiency via legacy consolidation. The platform comprises a core suite (including illustration, underwriting and eApplication), advanced analytics and a full digital suite.