ALEXANDRIA, Va.--(BUSINESS WIRE)--5Star Life Insurance Company (5Star Life) has selected Apptical Corp. as vendor of choice for tele-underwriting services for its final expense product, Silver Premier Choice.
Apptical was selected as the vendor for tele-underwriting services from a number of qualified vendors. Apptical’s cutting edge underwriting technology platforms, SoundDecisions and PURE, will provide 5Star Life with a cost efficient and effective means to quickly and accurately underwrite Silver Premier Choice products providing true point of sale decision-making capability while giving agents access to an instant underwriting decision while in a customer’s home.
“Apptical’s cutting edge capabilities as a premier provider of tele-underwriting services is far superior to anything we’ve seen in the market,” said John Sachs, Vice President of Business Insurance Markets. “With this system in place, agents will benefit by getting true point of sale underwriting decision capability with added features such as the ability to handle dual purpose drugs, reflexive questioning, identity validation, as well as bank account verification. 5Star Life benefits by not only providing our agents with fast and efficient point of sale underwriting, but by improving the quality of the interview experience for both the agent and the customer, improving up-front underwriting, and improving long term mortality experience on new business."
“We are pleased Apptical will be assisting us with our tele-interview process and look forward to working with them as we continue to strengthen our final expense program," he added.
About 5Star Life Insurance Company
5Star Life Insurance Company (5Star Life) is a Louisiana-domiciled life insurance company headquartered in Alexandria, VA. It is a provider of life insurance to the senior market and supplemental and voluntary life insurance to the worksite/group employee benefit market. It sells insurance nationally through independent agents and brokers dedicated to providing the best insurance solutions for its customers in these niche markets. 5Star Life insures nearly 700,000 people with $40 billion of insurance in force. It strives to provide a flexible business model that enables it to serve the needs of its diverse customers — an insurance advisor to individuals and organizations, and a valued partner to brokers.
Apptical is a leading provider of sales and underwriting automation technology to the life insurance industry. In business for 26 years, Apptical’s cutting edge underwriting solutions, LiveApp, SoundDecisions, and PURE, provide carriers with cost efficient and effective means to quickly and accurately underwrite life insurance products providing true point of sale decision making capability while giving agents access to instant underwriting decision while in the customer’s home.
Established in 1988 as a bank focused technology service provider, Apptical entered the insurance industry in 2002 committed to providing innovative automated underwriting solutions. Carriers working through Apptical have shown significant reduction in acquisition costs while gaining point of sale underwriting decision capability and consistent high approval ratings from field distribution.
For more information visit Apptical.com.