• 21 Sep, 2017
  • Thought Leadership, Life

Description

For a life insurer today, a total digital transformation needs to take into account customer expectations as well as a wide array of technologies. Many see this time as the start of a long period of increasing investment across the sector.


  • 03 Nov, 2016
  • Thought Leadership, Life
When working with new clients or prospects, we are invariably asked, “Can you tell us best practices as to how other clients are using your software?” There are actually two questions embedded in that query. Ultimately, the goal is to challenge the efficiency and effectiveness of your current practices. Learn more about how to do that.

  • 19 Oct, 2016
  • Life, Case Study

ivari has been in the Canadian insurance marketplace for over 80 years; the company was formerly known as Transamerica Life of Canada. By implementing LifeSuite® from StoneRiver, ivari improved productivity and turnaround times, increased sales, reduced headcount through natural attrition and achieved great accuracy. Read more about the carrier’s selection and implementation processes.


  • 27 Sep, 2016
  • Thought Leadership, Life

Regulatory and compliance shifts, marketplace changes, a new generation to work with, new technology emerging … Historically, life insurance was viewed as the means in times of adversity to care for your family, pay the mortgage and send your children to college. That principle hasn’t changed, but recently the industry that guarantees that promise has evolved dramatically. The overall state of affairs may be viewed as bleak or as a call to action. Learn more about the challenges and the solutions to those challenges.


  • 14 Dec, 2015
  • Thought Leadership, Life

Description

The technology we have in our hands on a daily basis is powerful and wide ranging, from laptops to phones to wearable technology. This technology has radically changed how society accesses, acquires, and shares information. But what lies ahead? And how eagerly should we embrace technological change?


  • 09 Jul, 2015
  • Thought Leadership, Life

Description

Reading Time: 3 min.

Because of market pressure for instant gratification and the lack of immediate availability of certain evidence types, underwriters may have to assume that absence of evidence is in fact evidence of absence. For example, the absence of certain medical evidence is considered as evidence of the absence of a declinable medical condition – when in fact that condition may exist and might be discoverable through other data sources. What’s the answer?


  • 21 May, 2015
  • Thought Leadership, Life

Description

In the not too distant past both the carrier and the proposed insured understood that it took time, sometimes between 45 and 60 days, to process an insurance application, especially for life or health insurance. But times changed, along with insurance buyer and agent expectations. Carriers were in a race, hoping to reduce underwriting turnaround time from 45 to 20 days, then from 20 to 5 days.

    • Drastic underwriting time reductions through product design and technology
    • 77% of all carriers employing electronic applications, ACORD Standards for evidence reporting, and automated underwriting systems
    • Three key factors impacting speed to issue

  • 21 May, 2015
  • Thought Leadership, Life

Description

Reading Time: 9 min.

Reprinted with permission from the Bank Insurance & Securities Association, Q1 2014 magazine

Life insurance sales remain driven by speed, ease and expense. It’s no surprise then that buying life insurance is becoming faster, easier, and less expensive. One of the catalysts—especially for simplified issue insurance—is automated underwriting. This article looks at how automated underwriting has decreased the time required from three to four weeks down to minutes.


  • 21 May, 2015
  • Thought Leadership, Life

Description

Reading Time: 10 min.

In March 2014 StoneRiver surveyed life insurance carriers on their adoption and use of point-of-sale decisioning (POSD).
With advances in technology and nearly immediate availability of underwriting evidentiary data, automated data collection and underwriting have made point-of-sale decisions a reality for many insurance products.

The intent of the survey was to assess:
• The current level of implementation across carriers
• The appetite for point-of-sale decisioning
• The varied approaches and methodologies being undertaken


  • 19 May, 2015
  • Life, Case Study

Description

More than 730,000 Woodmen of the World members across the United States share a commitment to family, community and country, and the organization has a commitment to its members: provide the best possible service and support. In 2011, Woodmen of the World began looking for ways to improve the process of underwriting its insurance products and provide more efficient service to its member customers. The organization wanted to free up its underwriters from time-consuming administrative tasks, enabling them to focus their efforts on more value-add activities such as advancing high face value and complex cases.

Read this case study to find out how they accomplished their goal.

  • Product:

    LifeSuite

Pages