Paperless Solutions Group Update Notice
By: Paperless Solutions
Digitization is bringing rapid change to the life insurance industry, and we understand that the need to keep up with the pace of change is critical to your business’s ability to compete. Our goal is to enable you to succeed in the evolving digital landscape by helping automate key aspects of the sales, application, underwriting and document delivery process.
With that in mind, we are excited to provide you with our most recent Update Notice including information on the latest developments across our products and services.
Product Updates
eValuate
The Paperless Solutions Group eValuate product facilitates a “medical” dialogue between the agent and consumer, prior to the application process. By leading the agent through the proper questions to ask an applicant, leveraging carrier-specific complex rules that are kept behind the scenes, eValuate keeps the agent focused on the sales process and care of the applicant. The result is better qualified applications matched to the right carrier for the circumstance and ultimately higher placement rates.
During the last period we have made a number of improvements and are working on adding new carriers to the mix.
❖ Carrier details refresh:
We have reviewed and updated all Field Guides on eValuate to keep them current with published guidelines. Updates include items such as build charts, heath questions and various other published impairments.
❖ Build / Body Mass rules updated:
We reviewed all customer build charts in eValuate and have updated body mass calculations to improve accuracy.
❖ NEW! eValuate Advisory Group:
In our last newsletter, we announced the formation of an Agent Advisory Group. This group will assist with prioritization and expansion of areas within eValuate and provide feedback that we will use to accelerate the adoption of the product with agents. We engaged eight agency partners to participate and will have initial sessions starting in April.
❖ Coming Soon!
We are getting ready to implement several enhancements based on feedback from our customers, including these targeted for implementation soon:
• Revised marijuana prompts to differentiate between vaped, smoked, and ingested use, expanded frequency of use options, and updated carrier-specific rules accordingly.
• Revised tobacco use rules to stay consistent with today’s trends.
eRequirement
The Paperless Solutions Group eRequirement product supports the collection of additional information / forms required by the carrier in a simple, consolidated and electronic fashion, making the process fast and easy for both the agent and consumer.
❖ New! Recorded demonstration of eRequirement
We had significant attendance and interest on our eRequirement calls! If you were unable to attend and would like to see how the product works, please view the recording of our recent webinar (use password 77476257). You can also view our 90-second introduction video. If you would like a more personalized demonstration, contact us.
eValuate PLUS
The Paperless Solutions Group eValuate PLUS product is a complete point of sale underwriting decision tool that brings together the power of PSG’s electronic application, requirements gathering and eSignature tools with underwriting capabilities supporting full data driven analysis for multiple products. It incorporates all the rules in eValuate, “PLUS” it adds
data and full Underwriting RULES controlled by the carrier. It also facilitates a seamless interface to carrier systems, enabling efficient processing of cases requiring underwriter intervention.
eValuate PLUS is flexible, with the ability to be customized to support your individual needs. It can integrate with your risk assessment and decision support engine and support the application and point-of-sale process OR it can support the full end-to-end experience by adding your underwriting guidelines to our engine.
❖ Exciting implementation/integration of eValuate PLUS
We are thrilled to announce the implementation of a new risk assessment and e-application solution that combines Munich Re’s Alethia expert underwriting engine with the seamless application and point-of-sale process of eValuate PLUS. The new offering can help Carriers automate underwriting and get to market faster with a digital solution that helps them
compete in today’s digitized insurance landscape! For more information, review Munich Re’s recent press release or contact us.
Industry Involvement!
• Don’t miss us at AHOU, April 16-19! Visit the MIB/PSG booth #503 and 504.
• We will also be attending The Marketing Alliance (TMA) and Levinson Associates agency
group meetings this April. We look forward to seeing you there!
• During Q1, we attended MUD in January as well as iLTCI and an agency group meeting for
First Financial Resources (FFR) in March. It was great participating in these important
industry meetings.
• We continue to be a longstanding member/supporter of LIDMA. We look forward to seeing
you at their conference later this year. https://tinyurl.com/PSGLIDMA
Reference Material and in the News!
• Press Release: Munich Re Life US and Paperless Solutions Group Announce Risk.
Assessment Solution that Transforms Life Insurance Underwriting.
• Video: eRequirement 90 second introduction.
• Webinar Recording: eRequirement Demonstration (use password 77476257).
Need More Information?
Please visit our website at www.paperlessolutions.net and follow us on LinkedIn and Twitter. Or contact us at (352) 331-6262 x225.
PSG Update Notice, April 2023
Paperless Solutions Group, an MIB business, is part of the MIB Digital Solutions area.
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