Are your legacy systems keeping your applicants in the dark?
According to the 2024 EY Global Insurance Outlook, trust and transparency have never been more important for the life & annuity industry. The long-term success of our industry is highly dependent on reestablishing stakeholder trust. And in order to do so, we must consciously build transparency into each and every stakeholder interaction.
At the early stages of the insurance customer journey, the application process often sets the stage for building trust. Delivering a seamless, communicative experience can help to establish the foundation for a positive long-term relationship. Although sharing application statuses is not new, delivery can be inconsistent and at times, incomplete across platforms and products. Realities that can disrupt an application’s success and hinder relationships with agents, advisors and applicants.
Like many other technological challenges, app tracking limitations are fueled by carriers’ struggle to manage data and workflows across a growing number of siloed workbenches, admin platforms, document systems and eApps. We’ve expanded our application tracking feature to overcome this by enabling a richer data experience. One that helps carriers to better address complexity across their sales and distribution ecosystem.
The expanded features include:
- Unified Data Integration: Seamlessly gather data from ALL new business systems, including workbenches, admin platforms, document systems, multiple eApps, and more.
- Proactive Updates: Transform raw data into clear, actionable statuses tailored for agents and applicants, reducing confusion and delays. This includes enabling one unified digital experience for action items regardless of where the app starts.
- Digital Experience Excellence: Securely deliver updates through user-friendly interfaces that reduce friction and encourage faster action on requirements.
- Embedded Documents: Upon application approval, applicants can download their policy documents directly through the App Tracker, streamlining the final steps in the new policy process.
We’re excited to bring you a more accessible, connected experience. All of this is available in our out-of-the-box, LifetimeACQUIRE digital experience or as a headless API to support your existing or new build portals. It is one example of our commitment towards driving transparency for agents and applicants throughout the entire insurance journey.
Learn more about LifetimeACQUIRE, a configurable sales platform that puts power into the hands of buyers and agents.