LexisNexis Risk Solutions and iPipeline have integrated several LexisNexis data solutions into iPipeline’s SSG Digital platform for the iGO e-App. In addition, it is also in the the Resonant New Business and Underwriting products.
iPipeline’s iGo e-App is a data-gathering e-application for life insurance. Resonant provides automated solutions for managing and controlling underwriting and new business processes.
iGO e-App users will be able to access products from LexisNexis Risk Solutions. These include identity verification, multi-factor authentication, and data prefill solutions.
Resonant users can also deploy other underwriting solutions including LexisNexis Risk Classifier, LexisNexis Electronic Inspection Report, LexisNexis Motor Vehicle Records, and LexisNexis National Credit File.
The firms anticipate the collaboration will bring speed, accuracy, efficiency, and security to customers.
“At a time when life insurers are laser-focused on improving the customer experience, we are excited to integrate with iPipeline in order to provide data solutions that will support those goals,” said Drew Whitmore, Senior Director for Global Alliances at LexisNexis Risk Solutions. “Together we can provide an end-to-end integrated solution that helps improve data accuracy and minimises identity risks. And, for both consumers and producers, the application, decisioning, and delivery process becomes even faster and more efficient.”
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By GlobalData“We believe integrating these LexisNexis Risk Solutions will help accelerate the e-application and underwriting process for life insurance, so that producers and insurers alike can provide the best possible customer journey,” said Larry Berran, CEO, iPipeline. “Speed-to-market advantages can have an enormous impact in today’s highly competitive environment. Adding LexisNexis Risk Solutions will help streamline and simplify the new business process.”
Solutions and services provider iPipeline recorded a nice 69% rise in new business in Q4 2019 year-on-year.
In addition, the firm saw a 50% year-on-year increase in income protection sales and a 48% increase in the volume of multi-benefit new business.
The amount of cover written also grew with average premiums for policy applications up 5% year-on-year.