Coventry First, a secondary market provider of life insurance, has become the first secondary market provider to make life settlement transaction forms available through the life insurance industry's leading online clearing house, iPipeline.
The move, expected to significantly increase product accessibility and efficiency for brokerage general agents (BGAs), points to the continued growth of the secondary market and the demand for related products. Enabling instant access to traditional life insurance and secondary market products in a single online location, Coventry expects the move to significantly increase the convenience of secondary life insurance market offerings.
We have a commitment to make it easier for people to do secondary market transactions and this is the logical evolution in that process, said Alan Buerger, co-founder and CEO of Coventry First. Coventry’s iPipeline will prove a valuable resource for BGAs who can now gain instant and easy access to a variety of insurance and information forms.
The motives behind this identifiable trend, whereby traditional paper-based information and documentation systems are being uploaded onto the web, include the attractive offerings of increased availability and convenience of both product and service.