The Standard Excels in Agent and Consumer Adoption of Electronic Policy Delivery

EXTON, Pa.--(BUSINESS WIRE)--iPipeline®, the leader in on-demand marketing, selling and processing solutions for the nation’s top insurance carriers, distributors and producers, today announced that Standard Insurance Company (“The Standard”) achieved strong agent adoption of PolicyEX®, iPipeline’s interactive, electronic policy delivery solution, during the past 6 months. PolicyEX provides a state-of-the-art dashboard that provides visibility into all stages of the electronic delivery process and simplifies the review, e-signing, and issuance of policies.

“Speed to market is critical when policy issuance hinges on several key steps. Electronic policy delivery streamlines agent and consumer reviews and drives placement ratio lift. PolicyEX provides insight into policy status, eliminates traditional distribution costs, speeds delivery, and gets policies in force sooner”

“Speed to market is critical when policy issuance hinges on several key steps. Electronic policy delivery streamlines agent and consumer reviews and drives placement ratio lift. PolicyEX provides insight into policy status, eliminates traditional distribution costs, speeds delivery, and gets policies in force sooner,” said Tim Wallace, CEO, iPipeline. “The Standard’s launch of e-Policy is a great example of what can be accomplished in a brief period of time by promoting its use among agents. In six months, The Standard has electronically issued thousands of policies and experienced a 97% consumer approval rating for e-Policy delivery.”

“The Standard saw a big increase in adoption when we launched our PolicyEX Incentive Program. We made it acceptable for agencies to put their ‘toe in the water’ by setting them up and delivering policies to specific agents. This step-by-step approach led agents to see how easy it was, and they started to prefer electronic delivery to paper. So did the consumers,” said Dawn McMaster, Assistant Vice President of Individual Disability at The Standard. “We shared success stories with agents and used them to overcome concerns that consumers won’t like electronic delivery. Now it’s possible to substantially accelerate policy delivery, which helps agencies exceed the expectations of their producers. The consumers love it and the numbers speak for themselves. We are experiencing 20 percent increases in policies sent electronically month over month to distributors and expect to issue 10,000 e-Policies this year.”

PolicyEX delivers policy status and policies through the use of a secured website, email messages and identity protection. PolicyEX offers a number of advantages over traditional policy methods and delivery, including:

Increased consumer satisfaction
Visibility into all stages of the delivery process
Electronic delivery, signature and return
Faster policy issuance and commission payments
Elimination of traditional printing, postage and labor costs

To learn how you can implement iPipeline’s PolicyEX solution for electronic policy delivery, contact sales@ipipeline.com or call 1-800-758-0824, option 2. View iPipeline’s new Voice of the Customer videos today.

About The Standard

The Standard is a leading provider of financial products and services, including group and individual disability insurance, group life and accidental death and dismemberment insurance, group dental and vision insurance, absence management services, retirement plans products and services, individual annuities and investment advice. For more information about The Standard, visit www.standard.com.

The Standard is the marketing name for StanCorp Financial Group, Inc. and its subsidiaries: Standard Insurance Company, The Standard Life Insurance Company of New York, Standard Retirement Services, Inc., StanCorp Mortgage Investors, Inc., StanCorp Investment Advisers, Inc., StanCorp Real Estate, LLC, and StanCorp Equities, Inc.

About iPipeline

iPipeline leads its industry in providing the next-generation suite of sales distribution software to the insurance and financial services markets through its on-demand service. iPipeline's channel solutions for carriers, distributors, and producers automate activities for CRM, forms distribution and processing, quotes and illustrations, in Good Order e-Applications, agency management, data services, policy delivery and related services, enabling the insurance industry to market, sell, and process faster. iPipeline provides the process automation and seamless integration needed to make a sale by aggregating approximately 120 carriers, 1,200 distributors, and 400,000 financial professionals and advisors in a single, Web-based environment -- the iPipeline Customer Network. With headquarters in Exton, Pennsylvania, iPipeline has offices in Atlanta, Charlotte, Milwaukee, Salt Lake City, the United Kingdom, and Vancouver. Visit us at www.ipipeline.com.