SS: I mean anyone, including a phone room type scenario. Some eApps qualify for phone sales without a face-to-face meeting taking place. The client information is entered right into the eApp form. The client needs a computer with an Internet connection to complete the signature process, but that’s it. Many policies are sold that way.
PeS: Why would clients want to apply for a policy through the eApp process?
SS: The clients appreciate it because it’s a convenient and unobtrusive way to apply for insurance from anywhere, anytime. Plus, it’s very fast. This is particularly valuable for clients who may be too busy to meet in person because it can be written over the phone. For those who don’t like labs or exams, it’s a dealmaker. And, for clients who need it today, nothing else competes since the process is so fast. It’s a win, win for all.
PeS: Speaking of busy clients, how does an eApp handle an illustration different from a paper application?
SS: With some eApps, the majority of the application fills in from the illustration and unlike a paper application, incomplete or erroneous entries will be immediately caught for correction. This can prevent a great deal of issues and lost time, which in the end can mean lost business and no agent wants that.
PeS: I know Sagicor Life has an eApp – how does it compare in overall performance to other eApps?
SS: Sagicor’s eApp is part of our Accelewriting® automated underwriting process and is a top solution. It’s thorough, complete and fast at delivering true underwriting decisions in only 1-2 minutes. That’s fast!
No other B2B eApp has that capability currently that I know of. It means more premium written and it’s the solution for swift policy issue AND commissions. In fact, thanks to Accelewriting®, Sagicor is the only company that can provide an immediate underwriting decision without a 3rd party telephone interview. That’s a huge relief to many agents.
Sagicor’s Accelewriting® eApp is the top solution. It’s thorough, complete and fast at delivering true underwriting decisions in 1-2 minutes.
PeS: How can Accelewriting® help an agent measure the efficiency of an eApp with his busy clients?
SS: Accelewriting® fills out the majority of the eApp so it’s going to make business quick and easy for sure. That leaves only a minimal amount of the eApp to complete. What’s more, unlike other eApps, with Sagicor’s Accelewriting® a decision is rendered in 1 to 2 minutes without having to wait hours or days. That’s the key difference.
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- eApps. Can They Be an Answer to Writing More Business? - April 12, 2016