iPipeline “ a leading provider of cloud-based software solutions for the life insurance and financial services industry “ today reported Prudential, a financial services leader with more than $1 trillion in assets under management, has selected the DocFast e-Delivery solution to improve speed, customer and producer experience, scalability and flexibility. DocFast and other iPipeline selling and processing solutions are currently in use at Prudential, serving as key components in their digital transformation strategy.
During the past decade, I have seen Prudential implement iPipelines transformative solutions to improve the new business process. Our solutions are designed to eliminate errors in applications and increase business velocity, and that results in higher placement rates by reducing cycle times, said Tim Wallace, CEO, iPipeline.
Both customers and producers have high expectations for a quick and simple digital experience. DocFast supports two-way communications, 2Factor authentication, and accelerated document delivery, added Wallace. When everything happens rapidly, you have happier customers and faster commission payments for producers. Our goal is to enable near real-time processing for an industry in which speed and flexibility equate to success and result in immediate protection for individuals and families who need it. This is the focus of innovation at iPipeline.
Unlike some carriers implementing e-Delivery, Prudentials business case for implementing DocFast revolved around speed, experience, scalability and flexibility. Todays customers view technology as a necessity and not as a convenience, and we want to meet their expectations including where, when and how they would like to take delivery of their product. Similarly, our producers are demanding e-Delivery to simplify the activity, track status in real-time, and get away from paper, postage and time in the mail, said Dan Jennings, Vice President Operations, Prudential.
So far, the delivery results show that issued-to-placement cycle times have been cut in half from 14 to 7 days, and we see an opportunity to improve more on these times, said Jennings. iPipelines e-Delivery solution with two-way communications and tight security is accelerating our new business process and enabling us to expand our digital transformation strategy to enhance both the customer and producer experience.
DocFast, an iPipeline e-Delivery innovation, enables some of the nations most successful carriers to achieve new efficiencies and sell more. To reimagine how you do business and schedule a DocFast demonstration, contact [email protected] today.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with more than $1 trillion in assets under management as of March 31, 2018, has operations in the United States, Asia, Europe and Latin America. Prudentials diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudentials iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit www.prudential.com.
iPipeline is a leading provider of cloud-based software solutions for the life insurance and financial services industry. Through our SaaS-based new business acquisition platform, we accelerate and simplify sales, compliance, operations and support. We provide process automation and seamless integration between every participant in the financial services industry including carriers, agents, general agencies, advisors, broker-dealers, RIAs, banks, securities/mutual fund firms, and their consumers. Our innovative solutions enable automated processing for pre-sales, new business and underwriting, policy administration, point-of-sale execution of applications, post-sale support, data analysis, reporting, consumer delivery and self-service, and agency and firm management.
iPipeline provides the process automation and seamless integration needed on a global basis to make a sale by aggregating more than 130 carriers, 1,300 distributors and financial institutions, and their agents and licensed advisors in a cloud-based environment. With headquarters in Exton, Pennsylvania, iPipeline has locations in Bromley (UK), Cheltenham (UK), Dallas, Fort Lauderdale, Huntersville, Ontario (CA), Philadelphia, Pleasanton, and Salt Lake City. Visit www.ipipeline.com.