Patriot Life Insurance Upgrades to Sapiens UnderwritingPro Version 10

As a result of the 7-month initiative the insurer now enjoys an enhanced user experience and integration with Milliman InelliScript’s Irix — Risk Score.

(Image: The Declaration of Independence, by John Trumbull, 1819.)

Patriot Life Insurance Company (Yarmouth, Maine), a life insurance subsidiary of Frankenmuth Insurance (Frankenmuth, Mich.) with an extensive network of independent agents, has upgraded to version 10 of Sapiens UnderwritingPro for Life & Annuities, a web-based solution for automated underwriting and new business case management that is part of Sapiens CoreSuite for Life & Annuities (formerly Sapiens ALIS).

Martin Dinehart, EVP, COO, Patriot Life Insurance.

“Patriot Life Insurance views Sapiens as a long-term and strategic partner,” comments Martin Dinehart, EVP, COO, Patriot Life Insurance. “They intimately understand the North American life market and offer innovative underwriting technology. This latest version of UnderwritingPro offers tremendous ease of use and I was impressed with the level of teamwork exhibited by Patriot Life Insurance and Sapiens personnel. The integration with IntelliScript’s Irix – Risk Score is seamless and the UnderwritingPro rules engine works well with the new data. The project proceeded smoothly, and we successfully met an ambitious timeline.”

Patriot Life Insurance first selected UnderwritingPro solution (formerly StoneRiver LifeSuite) in 2015 to better support the company’s corporate goal of reducing manual new business processing and enabling remote underwriting. Version 10 enables Patriot Life Insurance to utilize Milliman IntelliScript’s Irix – Risk Score. Sapiens reports that it partnered with Milliman IntelliScript to create a seamless third-party vendor integration. Irix – Risk Score is a prescription-based predictive model designed to simplify the decision-making process by quantifying the relative mortality risk of life insurance applicants. The application is used to accelerate the underwriting process, enabling insurers to make a quicker policy decision. Risk Score also supports a better customer experience and a more cost-effective underwriting process for the insurer.

Underwriting Excellence & Enhanced User Experience

Sapiens reports that Patriot Life’s upgrade combines underwriting excellence with an enhanced user experience, including easier and faster access to information via intuitive graphical user interfaces. Patriot Life Insurance will benefit from straight-through-processing capabilities and the move to advanced HTML5 web technologies (from Adobe Flash), according to the vendor.

“Sapiens is pleased to see Patriot Life Insurance in production with Sapiens UnderwritingPro version 10,” comments David Pidgeon, head of Sapiens Life & Annuity business unit for North America. “The shift to advanced HTML5 web technologies greatly improved Sapiens UnderwritingPro for Life & Annuities’ user interface and experience and ensures a long-term strategic operational platform. We now have a proven version of UnderwritingPro that is available to all clients.”

The project to implement the new application was completed within seven months, including the third-party vendor integration, according to Sapiens. Patriot Life Insurance is currently in the planning phase to expand its use of Sapiens UnderwritingPro rules to provide real-time decisions for select products and customers.

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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 [email protected] or (503) 936-2803.

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