It’s never been more important for life and annuity carriers and brokers to create new efficiencies, streamline processes and shave costs.
Self-service and new business automation have both proven to be valuable business drivers. But it’s long been difficult to implement either strategy for corporate-, individual- and trust-owned COLI/BOLI policies. Self-service and automation tools truly suited to the space have simply never existed. Not anymore.
Andesa Services’ groundbreaking new offerings – the Integrated New Business Portal and the Policy Self-Service Portal – efficiently support pre-sale enrollment activity, new business submission and post-issue policy administration responsibilities.
The services – available together or individually – make it possible for interested parties to easily manage a policy’s entire life-cycle, from submission of new business information through policy administration and self-serve maintenance. The result is an improved experience for brokers and clients, reduced carrier dependency, increased operational efficiency and maximum profits.
What do the new portal services offer?
- True self-service and automation for COLI/BOLI policies
- Mitigated need for call center services
- Tracking, monitoring and approval of enrollment and underwriting without manual data compilation
- Efficient, user-friendly online enrollment and maintenance components
- Out-of-the-box integration with Andesa’s industry-leading suite of policy administration, plan administration, illustration and reporting tools
- Support for policy forms and enrollment situations (corporate, trust, individual-owned, etc.)
- Automated high-volume new business submissions, assuring In Good Order processing and eliminating manual form completion
- Simple collection of application data for individual-owned policies with an underwriting class of Guaranteed, Simplified or Medical Issue
- Satisfaction of corporate/trust-owned consent (101j) requirements and non-GI scenarios
Advanced technology, increased profitability
Click here to learn why Lincoln Financial Group uses the Integrated New Business Portal and Policy Self-Service Portal.
The Integrated New Business Portal and Policy Self-Service Portal are user-friendly, web-based services, fully integrated with Andesa’s illustration, transaction entry and policy administration systems. Users access the systems through simple pass-through web portals, all under the associated carrier’s banner. The underlying technology is structured using an N-Tiered Scalable Architecture that employs an Oracle database management system, Java, Java 2EE and an internet-based HTML presentation layer.
100% accurate data. Reduced cycle times. Efficient management.
The Integrated New Business Portal’s In Good Order Upload feature allows distributors to advance their paper-based application submissions, reduce processing time and submit a 100 percent In Good Order electronic data feed. This presents carriers with a tremendous advantage, giving them an immediate jump-start on MIB and Labs requirements, direct loading of forms into imaging systems and an acceleration of the entire underwriting process.
Integrated New Business Portal & Policy Self-Service PortalIncreased efficiency. Increased profits. Contact us to learn more.