EbixExchange says a life insurer and a distribution firm have used the firm’s new LifeSpeed platform to process life insurance applications from “end of end.”
The LifeSpeed system is an online exchange system that can connect life insurance producers, broker-dealers and other distributors with carriers’ products, according to EbixExchange, Herndon, Va., a unit of Ebix Inc., Atlanta.
World Financial Group Inc., Duluth, Ga., a financial services marketing company with a network of about 15,000 life agents, is using the system to life sell an indexed universal life insurance policy from Western Reserve Life Assurance Company of Ohio, Columbus, Ohio, EbixExchange says.
The LifeSpeed system can collect data automatically, fill out application forms automatically, deliver an application to the carrier for underwriting, and take in applicant signatures through a biometric signature pad, EbixExchange says.