iPipeline, a leading provider of cloud-based software solutions for the life insurance industry– today announced that Lincoln Financial Group’s new fully-electronic Term insurance product, Lincoln TermAccel® Level Term, incorporates iPipeline’s enhanced iGO® Drop Ticket (electronic short form) and DocFast® e-Delivery solution to help speed the issuance of policies.
TermAccel offers younger age clients and those in need of lower face amounts affordable protection and the potential to qualify for "lab-free" underwriting. TermAccel is now accessible to advisors through Lincoln’s website portal or the iGO® platform for iPipeline customers.
"Tapping into the underserved middle market is an on-going challenge for today’s insurers. First-time Millennial and tech-savvy Gen-Xer buyers are seeking convenience and speed, so the selling and buying of insurance must become a painless exercise," said Tim Wallace, CEO, iPipeline.
"Lincoln Financial’s bold move to create a next-generation product sold through a completely electronic process using iGO Drop Ticket signals a shift in how agents sell and consumers buy.
"By integrating this process with the potential for ‘lab-free’ underwriting and leveraging DocFast for e-Delivery, I expect Lincoln to experience substantial speed-to-market advantages and draw the interest of consumers seeking a better way to purchase products. I applaud Lincoln’s bold approach to designing and selling TermAccel."
"As part of Lincoln’s commitment to helping individuals achieve their financial goals, we continuously look to deliver innovative products, such as TermAccel, that help advisors serve the specific needs of specific markets," said Heather Milligan, Senior Vice President, Underwriting & New Business, Lincoln Financial Group.
"We also optimize the use of digital technology and underwriting best practices to simplify the selling, buying and delivery process. Through collaboration with leading providers such as iPipeline, we are able to enhance the experience for both the advisor and client, leading to favorable outcomes for all parties."
iPipeline is a leading provider of cloud-based software solutions for the life insurance industry. Through our SaaS solutions, we accelerate and simplify insurance sales, compliance, operations and support.
We provide process automation and seamless integration between every participant in the life insurance industry including carriers, agents (such as financial advisors and independent insurance agents), distributors (such as banks, broker-dealers and general agencies) and consumers.