iPipeline® Adds Speed of Underwriting to Quote Engine with Ethos to Deliver Insurance to Agents in Minutes
iPipeline® announces that it has entered into a strategic alliance with Ethos, one of the largest term life insurance providers in the U.S., empowering Ethos to help a wider range of consumers benefit from its online life insurance coverage platform. As the first insurtech on the iPipeline platform, Ethos can now offer its white-labeled and customized life insurance assessment, application, and policy delivery services to the more than 400,000 agents across the iPipeline ecosystem.
Ethos’ mission is to make life insurance more affordable and accessible to as many Americans as possible. With Ethos, consumers can obtain life insurance policy quotes and apply online in minutes without medical exams. Using its proprietary technology stack, Ethos can process the application instantly, providing information about coverage eligibility and rates. Once the application is approved, the policyholder can activate their coverage immediately.
Insurtechs can appear lower in lists on quote engines that were traditionally designed to sort only by premiums. iPipeline resolves this issue by displaying a “speed score” to agents. Each carrier is measured by the amount of time it takes for an agent to complete their digital application, as well as the time it takes the carrier to make an underwriting decision. These speeds and qualification scores are displayed next to the carrier’s premium. Now for the first time, agents can sort via speed and any of these categories, allowing them to help their customers get the best product for their needs, especially as more and more consumers expect instant online experiences.
“Each agent determines what matters most to their client. Sometimes that’s speed—and sometimes it’s price,” said Bill Atlee, Founder and Chief Innovation Officer of iPipeline. “Our quote engines with the added ‘speed score’ search will help Ethos stand out in an industry that is used to a 30-to-45-day underwriting process. Agents can now view Ethos’s products alongside traditional carriers with the ability to consider more than just price. We’re excited to bring the Ethos products to the many agents in the iPipeline ecosystem, and we look forward to our ongoing partnership.”
“iPipeline’s distribution and innovation capabilities will help us as we continue on our mission to protect the next million families,” said Vipul Sharma, Chief Technology Officer at Ethos. “iPipeline shares our commitment to making life insurance more accessible and improving the experience—at every point in the process. This strategic alliance allows us to seamlessly reach more consumers through the thousands of insurance agents who use iPipeline.”
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