(Image credit: City of Ontario, Calif.)
iPipeline (Exton, Pa.), a provider of distribution related software solutions for the life insurance industry, has announced that it will acquisition Laser App Software (Ontario, Calif.), a provider of forms automation and management software for the securities and insurance industries. Laser App is used by approximately 100,000 registered investment advisors (RIAs), agents, broker-dealers and mutual funds to streamline the process of completing client forms.
Laser App has led the market by providing simple and straightforward solutions that make it easier for advisors, RIAs, broker-dealers and mutual funds to do their work and effectively engage their customers, according to Tim Wallace, CEO, iPipeline. “Open platforms are required to standardize reporting forms and processes, deliver efficiency and consistency, and manage documents on an on-going basis,” he says. “By constructing a centralized library where content owners can store up-to-date forms and enabling data pre-fill from a variety of databases, Laser App has managed to fill in a technology gap to reduce Not-in-Good-Order submissions and speed transactions. We are extremely pleased about the acquisition, the new technology, and the potential to deliver increasing value across our collective customer base.”
Customers today have little tolerance for paper-based processing and delays, and whether the transaction is for an annuity, insurance policy, or mutual fund, it needs to be completed electronically and quickly to meet the expectations of today’s consumer, according to Ed Beggs, CEO, Laser App. “iPipeline and Laser App share the common belief that we must dramatically improve how financial products are sold and serviced, and that innovation is the catalyst needed to accomplish this goal,” he says. “Agents and advisors are demanding solutions to make their lives easier and those of their customers. iPipeline is ideally positioned to fill this need, and I am confident that Laser App’s complementary solutions and content will serve as strong technology assets.”
Laser App users report an 80 percent to 90 percent reduction in processing time by accessing a library of over 33,000 up-to-date forms for the securities and insurance industries, according to an iPipeline statement. Users can also pre-fill fields with data from CRM platforms, customer databases, commercial services, and various systems to eliminate errors. e-signature and mobility are incorporated to engage the digital customer and improve the overall buying experience.
“Laser App has developed a strong following of loyal customers since the company’s inception,” comments Larry Berran, COO and CFO, iPipeline. “Their high retention rate and customer satisfaction level speak strongly about their value as a trusted business partner for RIAs, broker-dealers, carriers, and mutual funds,” he says. “I am excited about the expansion in our customer base and our ability to offer new innovations and content to streamline and accelerate the selling and processing of diversified financial products.”