(Image source: Insurance Technologies.)
Insurance Technologies, LLC (Colorado Springs, Colo.), a provider of sales and regulatory automation solutions to the insurance industry, has announced the integration of its FireLight e-application order entry solution with LexisNexis InstantID and LexisNexis InstantID Q&A. The integration LexisNexis Risk Solutions (Atlanta) identity management products offers additional 3rd party heightened identity authentication capabilities within FireLight, supporting diverse compliance and sales requirements, according to Insurance Technologies.
The integration enables the implementation of an additional secure, knowledge-based client verification process prior to entering the signing ceremony for both the FireLight Sign Now and Sign Later experiences, a vendor statement says. This added capability allows FireLight insurance clients who also utilize LexisNexis InstantID and LexisNexis Instant ID Q&A, to create an enhanced and reinforced sales process for advisors and their clients.
“Our life insurance customers are looking for new ways to improve the experience for their consumers as well as their sales agent channels while satisfying customer identification program (CIP) regulations and providing robust security for the information flow,” comments Elliott Wallace, VP and general manager, life insurance, LexisNexis Risk Solutions. “Our identity management solutions leverage superior linking technology that help life insurers accelerate customer acquisition and mitigate risk.”
Insurance Technologies reports that FireLight offers a streamlined implementation that is configurable with LexisNexis Risk Solutions based on signer type or additional data elements within the application package. LexisNexis identity management solutions help to provide what the vendor calls robust identity coverage that help increase verification rates and support informed decisions. Within FireLight, identity verification results are attached to the e-application package audit trail, keeping authentication data confidential. Additional review queues can be triggered based on returned identity verification results to streamline unique review and due diligence processes across diverse products, the vendor explains.
Addressing Need for Heightened Authentication Strategies
“To combat the risk of fraud especially with higher risk transactions, for example, withdrawal transactions, high premiums and consumer initiated transactions, heightened authentication strategies are necessary,” comments Katherine Dease, VP, product management, Insurance Technologies. “To support both high and low risk transactions, we enable clients to leverage rules within FireLight to assign authentication levels based on the risk associated with each transaction. This flexibility has been key to helping our clients solve their specific compliance requirements.”