iPipeline: A New Way to Process Policies at GBU Life
April 29, 2022
GBU is excited to announce that our new software platform, iPipeline, is now live! The software is currently available for life insurance products; annuity products will be added at a later date. The iPipeline platform not only allows for faster internal processing of policies, but also an easier experience for both agents and members.
Continuing with GBU's goal of modernizing and strengthening our infrastructure, we've developed and launched four components of the iPipeline platform including Illustrations, E-Applications, Underwriting Engine and E-Docs. Here are some of features and benefits of the new system, which will result in an easier application process as well as more streamlined internal processing.
Illustrations
• Ensures technology is always up-to-date
• Accurately evaluates complex policies
• Illustration information automatically populates to the application so there is less information to fill out.
Applications and E-Docs
• Allows for remote e-signature. Customers can sign at their convenience on their computer or smartphone.
• Customers can receive their policy digitally when it is issued. This reduces delivery times from weeks to hours
• Prefilled fields in the application shorten the application process
• The system checks to make sure all information is filled out for more streamlined processing.
• Helps avoid costly policy re-issues
• Delivers real-time dashboard alerts
Underwriting Engine
• Reduces costs and cycle time
• Increases capacity
• Offers regulatory control, monitoring and compliance
• Provides real-time reporting and analytics
The iPipeline platform provides GBU with the most comprehensive, end-to-end platform for selling, processing and servicing of our products. Their solutions were developed with the specific goal of enabling carriers like GBU Life to achieve complete straight-through processing.
Applications automatically feed into GBU’s new software, allowing the process to start before an underwriter touches the policy. We can now move applications in a week or two, rather than a month.
As we move into the second quarter of another exciting year, I want to take a moment to reflect on our accomplishments and share some of the new initiatives we are implementing in the realms of sales, marketing and community engagement. Over the past year, GBU Life has reached significant milestones thanks to the dedication and hard work of our team and the trust and support of our members. Our sales department has exceeded targets, and we have expanded our reach to more communities than ever before. We have launched several successful marketing campaigns that have not only increased our visibility but have also strengthened our brand's presence in the industry. For this year, our focus will be educating potential new members on the importance of securing their financial futures through life insurance and annuity products while serving their communities as part of our great Society. Looking ahead, we are committed to enhancing our sales strategies to better serve you. We are introducing some tools for our agents to enhance our products. One new tool is our Defined Benefit Annuity program which combines the Future Flex Fixed Index Annuity (FIA) with a software tool that can help determine retirement savings needs and break them down into contributions over time to help you meet your retirement goals. Be sure to keep in touch with your GBU agent to review your plans and products to see how adding an FIA to your retirement planning can help boost your savings efforts
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