and expand the flow of your life insurance application processing
by replacing paper-based hurdles with the speed and efficiency
of online, Straight Through Processing automation – the
LifeSpeed Platform – from EbixExchange USA. The latest
technology available for insurance application processing, LifeSpeed
is the new innovative means by which, BGAs, IMO’s, broker/dealers,
producer/ agents, and other distribution channels can connect
with – and process the sale of – products available
from insurance carriers.
LifeSpeed speeds along all aspects of the insurance sale lifecycle:
- Consumers enjoy a faster policy issuance time frame.
- Agents have a service that’s easy to use. Agent time
previously spent in processing and follow-up tasks become
freed up; Agents spend more time focusing on sales.
- LifeSpeed gives agents the flexibility they need to submit
an application under a variety of sales circumstances. Process
options include: Snap App/Initial Ticket; Informal Request/Trial
Application; Part A; Part A & B; full application with
all supplemental documents.
- Carriers will see a great reduction in application error
rates. Virtually all of the applications received by the carrier
are In Good Order. Carriers spend more time approving applications
and less time requesting corrections or missing information.
- Agents can check application status at any time –
without have to submit a tracking request through third-party
- Carriers gain a much higher cost effectiveness in operations
support. Not-Taken rates are reduced; more of the business
activity is converted to increased placement ratios and realized
LifeSpeed gives brokers and carriers alike a new alternative
to the intractable means and high overhead costs associated
with traditional paper-based operations.