American General Life Companies (American General) has unveiled LTC LaunchPad, a new automated application process for American general LTCSM insurance. The web-based tool, which is also available in a desktop version, is designed to help producers complete and submit the right forms every time, and shorten producers’ requirements for field underwriting.
According to Amercian General, the LTC LaunchPad consists of a three-step process. First, the producer has to use the company’s eConnections web to generate an illustration and bring the product to life with efficient proposals on a system.
Second, after benefit choices are finalized and a brief questionnaire answered, the tool populates the required forms that can be signed electronically either in person with client or remotely via one-click eSignature technology on a website and submitted online. In addition, a package of forms can be printed for signing, and then faxing or mailing to the company.
Third, after forms have been submitted, a registered nurse will contact client to gather information to complete application and begin underwriting process, the company said.
David O’Leary, executive vice president and chief operating officer of American General, said: “We developed LTC LaunchPad based on research with producers that indicated their interest in a simpler and speedier application process for long term care insurance. LTC LaunchPad saves time, reduces paperwork and enables producers to confidently submit clean applications for quicker processing.”