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.