NEOS Life Deploys Ebix Life Insurance Sales & Administration Solution

The company rapidly implemented the solution, including deployment of an Adviser portal, sales administration, integrated underwriting engine, commissions processing, reinsurance reporting and CRM and data warehouse integration.

(Image source: NEOS Life homepage.)

NEOS Life (Sydney), the creator of a life insurance sales platform designed to offer what it describes as fairer, more stable pricing, faster decisions and a commitment to a new level of customer service, has deployed Ebix’s (Atlanta) OneOffice as its Life Insurance sales and administration solution in Australia.

Brett Yardley, Managing Director, NEOS Life.

Implementation of the solution was completed within nine months, including deployment of an Adviser portal, sales administration including tele-underwriting, integrated underwriting engine, commissions processing, reinsurance reporting and CRM and data warehouse integration. Ebix is hosting the solution, including synchronizing data between Ebix OneOffice, Ebix SmartOffice CRM for the insurance industry and the NEOS data warehouse.

“NEOS Life is extremely happy to partner with the Ebix OneOffice team,” comments Brett Yardley, Managing Director, NEOS Life. “In a very short time, by industry standards, we’ve worked together to launch an adviser portal integrated with the UnderwriteMe underwriting engine and are therefore able to deliver straight-through processing capability from day one. Feedback from the launch of the adviser portal to our founding group of advisers has been very positive. I can definitely say our decision to select and base our proposition on the Ebix OneOffice solution has been very successful.”

Ebix OneOffice shifts the paradigm from the traditional back office and front office to OneOffice, according to Philip Fouri, VP, Ebix Australia. “Our deep industry consulting experience, API-driven architecture and proven local track record has seen Ebix OneOffice successfully implemented at four new local Life Insurance sites over the past six years,” he says. “It is a complete solution that provides speed to market with reduced risk. We back our confidence in our proven implementation methodology with end to end implementation engagements.”

Philip Fouri, VP, Ebix Australia.

Ebix OneOffice leverages a base set of functions such as the quotation engine and new business processing to make this available to any end user, according to the vendor. This includes advisers, comparators, customers and administration servicing staff.

Beginning of a Long Partnership

“Ebix and NEOS see this as just the beginning of a long partnership and in the next six months we are looking forward to adding policy amendment processing to the suite of adviser portal options and support for Superannuation Rollover payments,” adds Ebix’s Fouri. “This is expected to extend the Adviser Portal to include straight through processing for fully underwritten increases and decreases in benefits and premiums.”

NEOS life insurance products are issued by NobleOak, one of Australia’s longest standing insurers, and are reinsured by a subsidiary of Pacific Life Re.

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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