ApplicInt partners with SBLI
ApplicInt, a provider of insurance application fulfillment solutions, recently led efforts to digitize the Life Insurance application process for Savings Bank Life Insurance Company ( SBLI ), based in Woburn, Massachusetts. In a Pilot, SBLI successfully implemented ApplicInt’s U*Complete platform for clients to self-complete Life Insurance applications, which is integrated into SBLI’s fulfillment process. SBLI is planning for a full production rollout of U*Complete in the second quarter of this year (2021).
“We are very excited about our partnership with ApplicInt and the opportunity to use UComplete in innovative ways to help our clients. Our focus is to simplify the application process for agents and their clients alike, and our 100% digital Self-complete Application Process Pilot has demonstrated very positive results. We look forward to rolling it out to the market.” – Rose Conneely, COO, SBLI.
“Our goal is to make the application process as simple and convenient as possible, and via our partnership with ApplicInt, we have piloted an easy-to-use 100% digital process for clients to self-complete their application, while automatically providing agents and their clients ‘status alerts’. We are planning to roll-out this new option in mid-2021.” – Rose Conneely, COO, SBLI.
ApplicInt’s U*Complete has two workflow self-service models: “Carrier Direct to Consumer” and “Agent Direct to Customer”. In the Carrier Direct to Consumer process, the consumer has a secure login to the Carrier’s Website. The consumer chooses a face amount/term product and runs a quote. They then complete a Part A Life Insurance Application, with the Part B medical questions being optional depending on the carrier’s fulfillment process. The consumer then eSigns Forms. There is real-time chat available when needed or a warm transfer to a call center to schedule an exam if needed. Forms and data are sent to the carrier in good order. The Agent Direct to Consumer model is essentially identical, except that the Agent initiates the fulfillment process and the consumer can review quotes from various carriers.
“We are overly excited about the extension of our technology that allows a common platform to be used by consumers, call centers and examiners to provide part A or part B application information to carriers. U*Complete also can be integrated with automated underwriting platforms for deep instant decisioning. And if you have existing ApplicInt software, it can be converted to U*Complete in a matter of weeks. U*Complete provides better a customer experience with enormous cost and efficiency savings.” – Mike Feroah Sr., Founder and Chief Strategy Officer of ApplicInt.