The acquisition is expected to strengthen iPipeline’s position as large-scale provider of illustrations in the life insurance industry
Cloud-based insurance software solutions provider iPipeline has acquired WELIS, a provider of life insurance illustration systems to US carriers, for an undisclosed amount.
WELIS offers Ascent Illustration System, which enables insurers to sell and service customers in a multi-channel distribution environment.
The company has developed the software as a standard single life illustration system, which can be transformed into a complex, multiple life or multiple plan system, by the click of a single button.
Through the acquisition, iPipeline is expected to strengthen its position as a large-scale provider of illustrations in the life insurance industry.
WELIS CEO Stephen Frederick said: “iPipeline has done an outstanding job of developing one of the industry’s most powerful and versatile platforms. The current COVID-19 environment has placed a spotlight on the need to accelerate the integration and use of digital platforms.
“iPipeline’s clients are well-positioned to reap the benefits of their investments, and our Ascent Illustration System is a perfect next-step for carriers seeking to use a highly customizable, brandable, rapidly deployed product.
“The integration of Ascent into the SSG Digital Platform with PAS+ will deliver immediate benefits to customers who are committed to taking the digital journey. I am pleased to see our technology being put to great use by Larry and his team.”
iPipeline offers low-code, cloud-based software solutions for life insurance firms
iPipeline is engaged in providing low-code, cloud-based software solutions for the life insurance and financial services industry. Its SSG Digital platform is capable of advancing and simplifying sales, compliance, operations and support.
The company offers process automation and facilitates easy integration between participants including carriers, agents, general agencies, advisors, broker-dealers, RIAs, banks, securities/mutual fund firms, and their consumers.
iPipeline’s advanced solutions include pre-sales support, new business and underwriting, policy administration, point-of-sale execution of applications, post-sale support, data analysis, reporting, user-driven configuration, consumer delivery and self-service, and agency and firm management.
iPipeline CEO Larry Berran said: “Stephen Frederick, CEO of WELIS, and his team have created a benchmark illustrations system against which all other platforms are compared.
“Ascent will be integrated it into our low code, SSG Digital Platform and allow agents and advisors to quickly run real-time scenario-based illustrations, save them, and send them to customers for review and e-Signature through our PAS+ agent portal.”