Pompano Beach, FL, August 30, 2012 – Aplifi, a leading provider of Life & Annuity Order Management, Client Management and Electronic Document Delivery solutions for the financial services and insurance market segments, reported today that it recently released a host of new features into its PolicyBox platform continuing its commitment to be the best electronic policy delivery platform on the market.
Electronic policy delivery has taken center stage at many insurance carriers and distributors recently. The ability to dramatically reduce cycle times, reduce expenses and create a better consumer experience are all driving factors. PolicyBox offers both carriers and distributors a feature rich platform that is quick to implement and provides real value almost immediately.
To date, Aplifi, its carrier partner(s), distributors and producers are seeing major cycle time reductions in delivering insurance policies electronically through PolicyBox. On average PolicyBox has been able to help reduce delivery times by more than 70%. Reductions like this are pointing to the possibility of saving hundreds of millions annually for carriers, distributors and producers throughout the industry.
With the most recent release, PolicyBox now offers a variety of new functionality. Most notably agent self-registration and rules augmentation have been added. Agent self-registration allows a producer to register for the use of PolicyBox and complete their profile without the intervention of the agency or the carrier. This simple to use process eliminates the time and resources other platforms impose upon the distributor or the carrier in order to have field producers participate. This one step process allows the producer to use the same user id and password regardless of relationship, affiliation or carrier.
PolicyBox already has one of the most flexible and robust rules engines for document delivery in the industry, which can be automated or managed manually. With the addition of rules augmentation the distributor and/or producer may add additional review and approval parties “securely” to the transaction at will. This new feature adds benefit to distributors who have multiple office locations, use centralized processing centers or who support a “Sub GA” type relationship. Such functionality opens up the opportunity for agencies that have complex relationships to manage their workflow and other processes as they see fit. This also benefits the insurance carrier because they no longer have to manage or worry about agency/agent specific relationships or routing rules.
“We are 100% committed to making PolicyBox the industry standard for document delivery”, said Greg Reynolds, Chief Information Officer, Aplifi. “We are soliciting feedback from users constantly and making rapid development enhancements to ensure that both our carrier and distributor partners are staying ahead of the curve with the most advanced solutions possible”.
PolicyBoxTM is a unique “Patent Pending” electronic policy and document delivery platform for the insurance and finance services industries. The platform supports all product lines including but not limited to life, annuities, long term care, disability and health. PolicyBox also allows for the delivery of not only insurance polices and contracts but items like prospectuses, client statements, beneficiary changes, address changes and more. This purely Web-based system provides much more than simple PDF document delivery to the consumer. PolicyBox allows for each level of the distribution channel to offer its own branding and marketing appeal to its downstream customers. PolicyBox supports the needs of carriers, general agencies, broker-dealers, banks, and producers.
Aplifi (www.Aplifi.com), based in Pompano Beach, Florida, is a leading technology provider that focuses on the life insurance and financial services markets. Aplifi offers solutions that facilitate more insurance transactions that are compliant and “In Good Order,” driving increased business. Its suite of flexible and easy to use platforms include AFFIRM for Life, AFFIRM for Annuity, InsureSocket CRM, I-Relay CRM, and PolicyBox. “We Simplify Selling Insurance!”
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