New resource to increase sales efficiency and offer access to instant underwriting decisions
John Hancock launches electronic application platform to streamline life insurance sales process. (Credit: StartupStockPhotos from Pixabay)
John Hancock today announced the launch of a proprietary electronic application platform, JH eApp, the company’s latest advancement in modernizing the life insurance purchase experience for insurance agents and their customers. The platform is designed to significantly streamline and accelerate an experience that has traditionally been time-consuming and cumbersome by reducing processing times from weeks to, in some cases, just minutes. The new digital platform is available for applications ages 18-79 and all face amounts. For eligible submissions, this will enable a potentially “instant” underwriting decision via John Hancock ExpressTrack, the company’s accelerated underwriting solution.1
“Digital capabilities are more important than ever, and we are proud to be leading the way to meet the evolving needs and expectations of our partners and customers,” said Brooks Tingle, President and Chief Executive Officer of John Hancock Insurance. “That’s why we’re excited to launch the new JH eApp platform to make it easier for insurance agents to do business with us. This is an important step in our ongoing journey to advance our digital solutions, access new data sources, provide a better service to our customers, and, ultimately, grow our business.”
While John Hancock has long been investing in digital solutions to keep pace with consumer demands and expectations, the recent challenges presented by the COVID-19 pandemic have reaffirmed the company’s commitment to providing distribution partners with the most modern and efficient tools with which to conduct their business. JH eApp connects the entire application process digitally, eliminating time and paperwork, and enabling producers to focus on client questions and needs. This creates a more positive, seamless and digital-first experience for everyone involved. Further, it can be used for submissions of any face amount, meaning clients applying for example, a simple $100,000 term policy or those looking to purchase a $10 million policy for estate planning purposes will be able to take advantage of the platform.
“In this age where you can get anything from groceries to a mortgage electronically, it’s important we offer that level of ease and convenience to distributors and their clients,” said Linda Levyne, SVP, Head of Sales & Distribution, John Hancock Insurance. “Recent events have only increased our partners’ adoption of digital tools and we’re excited to give them yet another way to simplify the sales process so that together we can offer our shared customers the quality life insurance products they need to help protect their families and reach their long-term financial goals.”
The JH eApp will be rolled out to an initial group of producers via JHSalesHub, John Hancock’s producer website, and will be expanded more broadly throughout the remainder of the year.
Source: Company Press Release