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Solution Brief: Life Insurance New Business Acquisition

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Today, the life insurance application process is rife with manual work, paper forms, and complexity. Multiple application mediums typically flowing into the same workflow. Limited to no upfront "not in good order" (NIGO) remediation results in having to go back out to the customer to receive new information. In most companies there are large back office teams supporting manual process steps and workarounds. This complexity results in a poor experience all around: customers have to work through many manual steps, advisors spend time on administrative tasks, and carriers incur a significant amount of risk and cost. Building a new business acquisition process with Unqork that supports direct-to-consumer, agents, and other engagement approaches give carriers carriers the ability to fully digitize their processes while giving them flexibility to adjust to tomorrow's required changes. Create a fully digital system for collecting customer information: move paper forms online, build in logic to skip unnecessary questions, and directly integrate with external systems for key information (e.g. license validation, etc.). Automatically check for NIGO during the application process to avoid manual back and forth after the fact. After the quote is delivered, send policy documents via e-signatures and digital forms. The result is a dramatically accelerated applications process that's much less prone to errors leading to a better client experience, advisor productivity, and reduced costs. And because Unqork is a completely no-code solution, changes to the process and workflows can be accomplished without extensive development projects or weeks of requirements gathering. © 2020 Unqork. All Rights Reserved Life Insurance New Business Acquisition Dramatically improve first customer experience with seamless, self-service account opening. SOLUTION BRIEF Key Benefits • Improved customer and advisor satisfaction: Self-service data collection and improved user experience. • Reduced abandonment: Integrate with third party data sources easily to pre-fill data fields and accelerate application submission. • Ease of use: Improved usability and digital and greater automation. • Greater transparency: Enhanced transparency across the application process with real time statusing. • Reduced turnaround times: Remove steps and accelerates decision making. • Fewer errors: Checking moves to real-time during data collection process. • Reduced cost: Elimination of back office data entry and multiple touch points. • Better decisions: Data analytics providing insights into client preferences.

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