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.
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