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UV Insurance embarked on its modernization journey in order to accelerate product innovation and streamline new business processing--providing the opportunity for exciting new levels of growth.
Read this case study to see how they set themselves up for future success with the new capabilities enabled by the trio of OIPA (modern policy administration system), Equisoft/illustrate (illustration tool), and Equisoft/apply (eApplicaton solution).
Read the case study to get:
- The keys to quickly launching 6 products
- Strategies to enhance insurance policy illustration and application process automation
- Insights into how to accelerate the app process and approval decisions
The Challenge #
UV Insurance is a fast-growing North American insurer. Like many life insurers, UV Insurance had been facing increasing challenges due to its legacy policy administration system. They needed to replace their old core systems with a new PAS that would enable them to reduce manual processes and accelerate innovation.
The Tools Behind the Transformation #
By implementing the OIPA policy admin system and integrating Equisoft/apply and Equisoft/illustrate, UV Insurance has streamlined and automated new business intake operations, ushering in a new era of insurance policy management.
The Results #
UV Insurance launched six new product offerings as part of their new policy administration implementation The integration of Equisoft/illustrate and Equisoft/apply means that advisors can now quickly and effectively create instant, professional illustrations for potential clients and submit eApps right away – which has great increased the speed of new business processing. Apps are sent directly to the PAS which ultimately results in faster decisions on each case.
What Will you Learn from This Case Study? #
Dive into this case study to discover the reasons behind UV Insurance's selection of Equisoft’s solutions, how the implementation process worked and what benefits they have seen following the launch.
