Axonic partners with iPipeline and LIBRA to digitize annuity distribution
Axonic Insurance Services has partnered with iPipeline and LIBRA Insurance Partners to launch its new multi-year guaranteed annuity, VantagePoint.
The partnership uses iPipeline’s AFFIRM platform to automate the annuity order process and give LIBRA’s 90 partner firms nationwide digital access to Axonic’s products.
“We’re excited to team up with LIBRA and iPipeline. Integrating iPipeline’s purpose-built annuities platform helps us in our mission to simplify the buying process by removing all friction for today’s consumers who want and expect speed and simplicity. Insurtech solutions that easily integrate and are swiftly deployed enable our team to quickly scale new products, without back-end development. Partnering with LIBRA opens the door for us to help distributors, channels, and agents tackle their toughest challenges, head-on.” – Axonic Insurance CEO Michael Gordon.
“Our partners are excited about this technology, which is not readily available to other distributors or agencies. It gives them a competitive advantage of having another option for submission. iPipeline’s AFFIRM platform provides our partners with a modern tool to grow their business, offering annuity products in a scalable way, instead of reinventing the wheel each time. In today’s environment of tight margins on multi-year guaranteed annuities (MYGAs) and fixed-indexed annuity products, carriers and agents don’t want to expend resources on additional case management, extra data entry, pulling documents — and no one wants to endure up to 60% NIGO rates.” – Richard Buteau, SVP of Operations, LIBRA Insurance Partners.
“We are thrilled that LIBRA has connected us with a new technology-forward manufacturer like Axonic. We are gratified to alleviate the many frustrations that agents and customers alike experience in the annuity’s sales lifecycle. LIBRA is fully dedicated to bringing the manufacturer, the distributor, and the tech provider into synch when it comes to providing customers with great annuity products in a smooth digital experience. BGAs can now take advantage of state-of-the-art order entry technology that broker-dealers already enjoy. This incredibly expands the current options BGAs have in introducing one of the state-of-the-art platforms.” – Pat O’Donnell, CEO at iPipeline.
