EXTON, Pa.--(BUSINESS WIRE)--iPipeline® – a leading provider of cloud-based software solutions for the life insurance industry – today announced Reliance Standard Life Insurance Company has selected AFFIRM® for Annuities to automate the selling process for fixed rate and fixed indexed annuities tied to the S&P 500. The solution streamlines the order-entry process and supports customized workflows and suitability reviews, helping financial institutions meet their requirements for FINRA, SEC and state compliance. The next-generation solution will be made available to approximately 15,000 financial advisors and BGAs.
“The retirement income industry is warming up, and individuals with ‘safe money’ are considering positioning their assets to last longer in annuities. Simplifying and streamlining the annuity selling process is critical to achieving a true speed to market advantage,” said Tim Wallace, CEO, iPipeline. “AFFIRM for Annuities is designed to provide the automation with all of the necessary checks and balances to ensure business activities at the carrier, financial institution, and BGA take place quickly and efficiently. Reliance Standard Life’s selection of AFFIRM will provide its advisors and agents with the tools they need to conduct daily business while improving the consumer buying experience. We are pleased to have Reliance Standard join our AFFIRM for Annuities customer base.”
“Enabling financial institutions and BGA partners to process annuity products easier and faster strongly influenced our selection of iPipeline’s AFFIRM for Annuities solution. By combining our product rules with the institution’s compliance requirements and BGA’s processing needs, and ensuring ‘in good order’ submissions, iPipeline has been able to positively impact how advisors and agents engage their clients and sell,” said David Whitehead, Vice President, Accumulation Products Marketing, Reliance Standard. “Reliance Standard is an advocate of using progressive solutions that benefit our advisors, agents and consumers. Our decision to deploy AFFIRM for Annuities is indicative of our initiative to modernize the way we do business today and in the years ahead.”
To learn how you can implement iPipeline’s next-generation solutions to accelerate the marketing, selling and processing of life, annuity, and health products, contact email@example.com or call 1-800-758-0824, option 2.
About Reliance Standard Life Insurance Company
In addition to marketing a portfolio of fixed and fixed indexed annuities, Reliance Standard Life Insurance Company (Reliance Standard) specializes in innovative and flexible employee benefits solutions including disability income and group term life insurance, a suite of Voluntary (employee paid) coverage options and, with sister company Matrix Absence Management, fully integrated absence management programs. Rated A+ (Superior) by A.M. Best, Reliance Standard celebrated its centennial year in 2006.
Reliance Standard Life Insurance Company provides insurance products and services in all states (except New York), the District of Columbia, Puerto Rico and the U.S. Virgin Islands. In New York, insurance products and services are provided through First Reliance Standard Life Insurance Company, home office: New York, N.Y. Product availability and features may vary by state. It distributes its products through independent agents and brokers.
Both Reliance Standard and Matrix are members of the Tokio Marine Group. Tokio Marine Holdings, Inc., the ultimate holding company of the Tokio Marine Group, is incorporated in Japan and is listed on the Tokyo Stock Exchange. The Tokio Marine Group operates in the property and casualty insurance, reinsurance and life insurance sectors globally. The Group’s main operating subsidiary, Tokio Marine & Nichido Fire (TMNF), was founded in 1879 and is the oldest and leading property and casualty insurer in Japan. For more information, visit www.reliancestandard.com or call (800) 351-7500.
iPipeline is a leading provider of cloud-based software solutions for the life insurance industry. Through our SaaS solutions, we accelerate and simplify insurance sales, compliance, operations and support. We provide process automation and seamless integration between every participant in the life insurance industry including carriers, agents (such as financial advisors and independent insurance agents), distributors (such as banks, broker-dealers and general agencies) and consumers. Our innovative solutions enable automated processing for pre-sales, point-of-sale execution of applications, post-sale support, reporting, consumer delivery and agency management.
iPipeline provides the process automation and seamless integration needed on a global basis to make a sale by aggregating more than 120 carriers, 875 distributors and financial institutions, and their producers and licensed advisors in a cloud-based environment. With headquarters in Exton, Pennsylvania, iPipeline has locations in Cheltenham (UK), Fort Lauderdale, Huntersville, Philadelphia, Salt Lake City, Tokyo, and Vancouver. Visit us at www.ipipeline.com.