LifeDX platform launches into life insurance industry through collaboration with Pacific Life
LifeDX, a data exchange platform developed by IXN Tech is live and available for all carriers, distributors and vendors to join. Pacific Life was announced as the first carrier to join the platform. LifeDX is a multi-carrier platform that provides an application programming interface (API) solution for quotes and application submissions for the life insurance industry.
Leveraging APIs for quotes and application submissions streamlines integration between distributors, vendors, and carriers through a one-time build that can be re-used as connections are needed with other organizations. Going forward, as carriers make changes, distributors and vendors can avoid ongoing updates saving valuable development time. This can naturally reduce the effort for distributors or vendors to onboard additional carriers. It can also provide an opportunity for significant operational efficiency because there is only one source for securely accessing and transmitting information to and from these organizations.
“We view this API platform as a highway. As other carriers join us on the platform, and as we and the other carriers invest in and enhance the platform, everyone using this highway benefits. This is an opportunity for Pacific Life to be a part of leading the industry in adopting new technology and empowering distributors to create a unique agent experience while we manage the content and data for them, with LifeDX. The market analytics available through this platform enable us to provide more targeted and timely product iterations for our customers.” – Director of system integration, New Business & Underwriting, Pacific Life, said Boyd Ervin.
“The LifeDX API framework is what our industry has needed for a long time—a standardized and secure central API-centric solution that makes it easier and faster to securely ingest data from multiple carriers to deliver real-time to our customers and in turn to deliver back to carriers. We’re excited to see the innovation this platform encourages in this industry, because until now, sharing data between organizations has been a time-consuming manual process making it difficult for new solutions to enter the marketplace.” – CEO, IXN, Kevin Pohmer.