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ApplicInt: Creating an Integrated Experience for Buying Life Insurance

Top 10 Tech Solution for Life Insurance - 2020

For the insurance industry, a new wave of technological changes has created both challenges and opportunities. Still, the ultimate success of incorporating new technologies is influenced by several internal and external factors. The Internet of Things (IoT), cloud computing, advanced analytics, blockchain, mobile phones, digital platforms, and artificial intelligence (AI) are providing countless ways to engage with customers, reduce cost, improve efficiency, and expand insurability. These technologies are also enabling the creation of new insurance products, services, and business models. And while emerging technology provides opportunities for traditional insurers to modernize and reinvent themselves, it also forces them to respond to new competitions from increasingly well-funded and agile software-based companies that are beginning to make inroads in the market by focusing on unmet consumer demand, bringing down cost and providing new services. Such innovation has also produced enormous opportunities for established insurers to modernize, create new insurance products and services. It has led to the emergence of many startups seeking to significantly enhance the way insurance has traditionally been assembled, purchased, and experienced.

Increasingly, incumbents are compelled to strategize about ways to routinely innovate and establish superior digital experiences in response to disruptors who have made notable inroads in the market. In future, both competition and partnerships between tech-savvy incumbents and increasingly well-funded new market entrants are expected to rise. In our selection, we have looked at the vendor's capability to fulfill the burning need for cost-effective and flexible solutions that add value to your business. We present to you Insurance CIO Outlook's "Top 10 Tech Solution for Life Insurance - 2020."

Top Tech Solution for Life Insurance

ApplicInt was founded in 2003 to provide better automation and technology for all aspects of the Insurance and Financial Services Industry. Using a business model that has defined ApplicInt as a technology partner rather than a technology company, ApplicInt has worked with insurance carriers, distributors, call centers and paramedical vendors to implemented intelligent and innovative interoperable solutions, customized to meet the unique products and business processes of each client. In response to the increased complexity of the insurance sales and underwriting process, ApplicInt has automated the information collection process. ApplicInt solutions can be utilized to complete life insurance applications that are guaranteed to be “In Good Order”

applicint-usa.com

Acceptiv

Acceptiv

Acceptiv helps North American insurers reach the under-served middle market with online life and critical illness insurance buying solutions. The company provides its clients with the platform they need in order to gain market share through direct to consumer and omni channel distribution methods. Acceptiv's proven, sophisticated, end-to-end new business solution addresses the entire customer journey, not just the quote or automated underwriting process. Additionally, the software solution has been developed to meet the needs of the Canadian and US markets

Dream Tekis Software

Dream Tekis Software

Dream Tekis Software Pvt. Ltd. is a software Product specialized, process driven highly on values. We focus on building enterprise level software with specialization in domain specific products in Insurance - Life, General/Non-Life & Reinsurance. The company's products are built on State of the Art in Java Enterprise technology, which makes it robust, scalable and reliable application. Being built on Service-Oriented Architecture, the application supports high security and can be easily integrated with any third party applications. Also, the online dedicated customer support system has been well applauded by the clients across the countries

DXC Technology Company

DXC Technology Company

DXC Technology Company helps global companies run their mission critical systems and operations while modernizing IT, optimizing data architectures, and ensuring security and scalability across public, private and hybrid clouds. With decades of driving innovation, the world’s largest companies trust DXC to deploy its enterprise technology stack to deliver new levels of performance, competitiveness and customer experiences

EquiSoft

EquiSoft

Founded in 1994, Equisoft is a global provider of advanced insurance and wealth digital solutions. Recognized as a valued partner by over 50 of the world’s leading financial institutions in 15 countries, Equisoft offers innovative front-end applications, extensive back-office services and unique data migration expertise. The firm’s flagship products include a SaaS policy administration solution, CRM, financial needs analysis, financial planning, asset allocation, fund and portfolio analysis, quotes and illustrations, electronic application, agency management systems, as well as customer, agent and broker portals. Equisoft is also Oracle’s largest and most experienced integration partner for the OIPA platform

InsMark

InsMark

InsMark was established by Robert B. Ritter, Jr., in 1983 to provide illustration software and related marketing services for the insurance and financial services industry. InsMark provides its customer base with marketing strategies derived from his extensive experience in the upscale personal and business insurance markets. InsMark's software programs utilize unique approaches to illustrating all forms of cash value life insurance. InsMark deals solely with creative presentations -- leaving actuarial and legal considerations to the carrier's primary illustration system. To do this, InsMark developed its proprietary specifications (Button File) that each licensed insurance company uses to "link" data from its illustration systems

Insurance Technologies

Insurance Technologies

Insurance Technologies is transforming the insurance and financial services industries with innovative sales and regulatory automation solutions. The company automates and modernizes the entire sales process for advisors, agents and their customers, advancing the way insurance, retirement and investment products are marketed, sold, bought, delivered and managed. From pre-sale functions through e-application, to post-sale services. Insurance Technologies architect its solutions to deliver front and back-office configurability and usability to support multiple business strategies, encourage cross-channel growth, and evolve with regulatory changes

Lucid Technologies, Inc

Lucid Technologies, Inc

Lucid Technologies, Inc is a Premier Staffing and leading IT business process services provider that has a combination of the deep knowledge of technology and business process and leveraging its vast experience in providing information technology solutions. The company delivers end-to-end solutions through valuable strategy development, consulting services, and unique delivery capabilities. Lucid has been delivering high quality, reliable and cost-effective IT services to customers globally. The company provide world-class technology services by constantly exploring and implementing innovative solutions that drive long-term value to our customers

SE2

SE2

SE2, an Eldridge business, is a leader in the US life and annuities insurance technology and services industry. SE2 has a proven track record in delivering technology driven transformations for the life and annuity insurance industry. SE2 uniquely combines the maturity and peerless industry knowledge of its 125+ years of life insurance industry heritage with its end-to-end digital platform to enable the rapid launch of new and innovative products through existing as well as digital channels. SE2 currently administers nearly 2 million active policies on behalf of its 25+ clients. SE2 has over $100 billion in assets under administration and handles more than 200,000 new business applications annually

Wilton Re

Wilton Re

Wilton Re is a U.S. life re-insurance company specializing in the acquisition of in force life insurance and annuities as well as with assisting life insurance clients with product development, underwriting and new business strategies designed to serve the middle market. The company's Primary Insurance business focuses on providing simple life insurance products to the middle market offered through the voluntary worksite market, as well as through call centers and traditional agent channels