Standard Insurance has partnered with iPipeline, a provider of insurance software solutions, to deliver and accept coverage of an individual disability insurance (IDI) policy online using iPipeline's PolicyEX solution.
PolicyEX is a tool that delivers policies through use of a secured website, email messages and identity protection.
In the procedure, The Standard sets up a policy through the PolicyEX system and the policy will be electronically delivered to the producer.
The producer reviews the policy and can then notify the customer that the policy is available for review, electronic signature and payment. Once the policy is electronically signed, The Standard will be notified that the delivery process has been completed.
The Standard assistant vice president of individual disability Dawn McMaster said that producers will be able to place more policies. This can mean faster payment of commissions. It is another step toward stronger customer service and strengthening those relationships.