(Image credit: morzaszum.)
SBLI (The Savings Bank Mutual Life Insurance Company of Massachusetts; Woburn, Mass) has implemented iPipeline’s (Exton, Pa.) iGO Drop Ticket to simplify its Accelerated Underwriting program for independent agents and their customers. Over 250 distributors are currently participating in SBLI’s program, according to an iPipeline statement.
The vendor describes iGO Drop Ticket as an intelligent, rules-based short form, used by producers and call center support staff for insurance application processing. iGO Drop Ticket runs on iPipeline’s SSG Digital platform, which integrates directly with over 1,350 websites within the U.S.
“The industry averages around 30 days for the issuance of life insurance after the application is submitted, and this is just too long for our customers,” comments Denis Clifford, SVP, Chief Distribution Officer, SBLI. “By expanding our drop ticket coverage to include iPipeline customers, we are increasing the opportunity for producers to submit business to SBLI more easily. Additionally, by using our award-winning Accelerated Underwriting program for agents and their consumers with iGO Drop Ticket, more than half of our Accelerated Underwriting decisions can be made in five days or less for up to $500K in coverage.”
Removing Barriers
“The complexities of selling life insurance are vast and contribute to the high number of underinsured in the U.S. Between state regulations, numerous product options, and thousands of forms, selling this important part of a family’s financial future isn’t always easy,” comments Tim Wallace, CEO, iPipeline. “iGO Drop Ticket removes these barriers by simplifying what agents need to submit to a carrier to get the job done.”
“Agents send the ticket and the accompanying data directly to the carrier’s call center system, freeing them to concentrate on selling more while the center handles behind-the-scenes processing,” adds Wallace. “This means more commissions for agents, better efficiency at call centers, and faster policy issuance for families seeking coverage. We are pleased to be a part of SBLI’s Accelerated Underwriting program.”