EXTON, Pa.--(BUSINESS WIRE)--iPipeline® – a leading provider of cloud-based software solutions for the life insurance and financial services industry – today reported Erie Family Life has extended the capabilities of its digital life insurance platform by adding auto-policy generation and e-Delivery. As part of the comprehensive solution, agents can dynamically adjust values on policies, based on the carrier’s rules, to increase or decrease insurance face amounts and adjust payment frequencies upon receipt. When this occurs, DocFast, iPipeline’s e-delivery solution, requests modifications from the Illustration platform and dynamically reissues the policy, with a new illustration, to reflect agent changes.
“Digital transformation is the reimagining of our organizations to optimize how we work and service our clients. Erie Family Life has laid out an executable strategy and consistently delivered on it to achieve a position of leadership within the insurance industry,” said Tim Wallace, CEO, iPipeline. “Consumers have high expectations for a digital experience in all facets of life. The insurance industry is not an exception, and ERIE’s ability to automate and simplify the entire new business process demonstrates how innovation can produce a competitive advantage.”
“Our legacy with iPipeline spans many years of process refinement and technology integrations. During that time, we have made substantial strides in creating a digital life insurance platform to enhance the customer and agent experience,” said Louis Colaizzo, senior vice president of Life Insurance, Erie Family Life. “Our ability to auto-generate policies and e-Deliver them is a tremendous advantage for ERIE, our agents and our customers. We have also enabled agents to adjust face amounts, within approved underwriting parameters, to reissue policies with an illustration. This is reducing cycling and processing costs, making it easier for our agents to do business with us, and improving customer satisfaction.”
iPipeline’s platform is designed to enable the life insurance and financial services industry to automate and simplify all new business, administration, and in force management tasks to achieve desirable business outcomes. To learn how you can implement an integrated platform to gain competitive advantage, contact firstname.lastname@example.org or call 1-800-758-0824, option 2.
About Erie Family Life
Erie Family Life Insurance Company underwrites and sells individual and group life insurance policies and fixed annuities. Its life insurance products comprise permanent life, both whole life and universal life, and term policies. The company also sells individual fixed annuities, including fixed ordinary deferred annuities, tax advantaged deferred annuities and immediate annuities. Erie Family Life Insurance markets its products through independent agents in Pennsylvania, Maryland, Virginia, Ohio, North Carolina, West Virginia, Indiana, Tennessee, Illinois, Wisconsin, Kentucky and the District of Columbia. The company was founded in 1967 and is based in Erie, Pennsylvania. As of May 25, 2006, Erie Family Life Insurance Company has been operating as a subsidiary of Erie Insurance Exchange Inc. Visit www.erieinsurance.com/life-insurance.
iPipeline is a leading provider of cloud-based software solutions for the life insurance and financial services industry. Through our SaaS-based new business acquisition platform, we accelerate and simplify sales, compliance, operations and support. We provide process automation and seamless integration between every participant in the financial services industry including carriers, agents, general agencies, advisors, broker-dealers, RIAs, banks, securities/mutual fund firms, and their consumers. Our innovative solutions enable automated processing for pre-sales, new business and underwriting, policy administration, point-of-sale execution of applications, post-sale support, data analysis, reporting, consumer delivery and self-service, and agency and firm management.
iPipeline provides the process automation and seamless integration needed on a global basis to make a sale by aggregating more than 130 carriers, 1,300 distributors and financial institutions, and their agents and licensed advisors in a cloud-based environment. With headquarters in Exton, Pennsylvania, iPipeline has locations in Bromley (UK), Cheltenham (UK), Dallas, Fort Lauderdale, Huntersville, Ontario (CA), Philadelphia, Pleasanton, and Salt Lake City. Visit www.ipipeline.com.