US-based Apptical has been selected by 5Star Life Insurance to provide tele-underwriting services for its final expense product, Silver Premier Choice.
Apptical’s underwriting technology platforms, SoundDecisions and Pure, will allow 5Star Life to quickly and accurately underwrite Silver Premier Choice products.
The firm’s services will also improve true point of sale decision-making capability, while giving agents access to an instant underwriting decision when in a customer’s home.
5Star Life Insurance business insurance markets vice-president John Sachs said: "Apptical’s cutting edge capabilities as a premier provider of tele-underwriting services is far superior to anything we’ve seen in the market.
"With this system in place, agents will benefit by getting true point of sale underwriting decision capability with added features such as the ability to handle dual purpose drugs, reflexive questioning, identity validation, as well as bank account verification."
5Star Life Insurance offers life insurance to the senior market and supplemental and voluntary life insurance to the worksite/group employee benefit market, while Apptical provides sales and underwriting automation technology to the life insurance industry.