Stingray Systems

LifeSpeed- Insurance application processing

Available from Ebix, Inc.

Improve and expand the flow of your life insurance application processing by replacing paper-based hurdles with the speed and efficiency of online, Straight Through Processing automation - the LifeSpeed Platform. LifeSpeed is the new innovative means by which, BGAs, IMO's, broker/dealers, producer/ agents, and other distribution channels can connect with - and process the sale of - products available from insurance carriers.

Summary:

*Consumers enjoy a faster policy issuance time frame.
*Agents have a service that's easy to use. Agent time previously spent in processing and follow-up tasks become freed up; Agents spend more time focusing on sales.
*Gives agents the flexibility they need to submit an application under a variety of sales circumstances. Process options include: Snap App/Initial Ticket; Informal Request/Trial Application; Part A; Part A & B; full application with all supplemental documents.
*Carriers will see a great reduction in application error rates. Virtually all of the applications received by the carrier are In Good Order. Carriers spend more time approving applications and less time requesting corrections or missing information.
*Agents can check application status at any time - without have to submit a tracking request through third-party providers.
*Carriers gain a much higher cost effectiveness in operations support. Not-Taken rates are reduced; more of the business activity is converted to increased placement ratios and realized sales.

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