Assurity Life Insurance Co. has gone live on iPipeline's Velocity Platform, launching the vendor's iGO e-App, with Go/No-Go capability, enabling electronic insurance applications to be routed within an independent sales channel through a distributor, general agency or office of supervisory jurisdiction (OSJ) at a broker dealer.
Assurity Life cites a commitment to work closely with its distribution channel as a driver of the carrier's implementation of iPipeline's Go/No-Go feature within iGO e-App. "The Go/No-Go feature with e-signature is currently available for Assurity's term life and simplified products, including whole life, disability income, critical illness and accident," comments Pat Criger, the insurer's director of new business services. "Our goal is to drive productivity, reduce processing time, and get our agents paid faster. We are also pleased that we have improved the consumer experience by eliminating delays and unnecessary paperwork."
With the use of the Go/No-Go feature, each agent application gets routed automatically to the case manager or other designee within an independent sales channel to ensure everything within the application is in good order, according to Tim Wallace, CEO, iPipeline. "The important factor here is the distributor maintains control with the workflow over the e-app submission," Wallace remarks. "With Go/No-Go, these gatekeepers are given the ability to view, approve, or decline an application prior to its release to a carrier."
Using the iPipeline capability, approved cases are routed to the carrier for accelerated processing, while declined cases are routed back to the agent for updates or modifications, Wallace adds. When used with e-Signature and e-Submission, the outcome is rapid policy issuance and increased placement ratios for the carrier, and faster processing and payment for participating BGAs (brokerage general agencies) and their agents, he claims.
The Go/No-Go capability becomes more important as carriers continue to augment the traditional captive sales models by leveraging the independent distribution channel, according to Mike Persiano, an iPipeline spokesperson. "The Go/No-Go Capability is significant in that it ensure BGAs will not be disintermediated from the review and approval process," Persiano says. "It has been designed to fit into their workflow."
Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio