BetterLife selects IPipeline® to digitally transform its business and better serve future generations – InsuranceNewsNet | Business Insurance

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The 125-year-old Fraternal Benefit Society plans to use the iPipeline ecosystem to improve agent and member experiences and establish a Foundation for scalable growth

EXTON, Pa. Y MADISON, Wisconsin., April 25, 2022 /PRNewswire/ — iPipeline® announces that BetterLife, a life insurance company that has served individuals, families and communities for more than a century, will leverage iPipeline’s technology ecosystem to digitize its business operations and meet its aggressive growth goals. growth.

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Madison, Wisconsin-based on BetterLife was created in January 2021 following the merger of two member-owned fraternal benefit societies with more than 200 combined years providing affordable life insurance to American families. The company’s suite of insurance products includes term life, universal life, whole life, final expense and annuities.

BetterLife, licensed in 17 states, aims to grow its life insurance business in the next three to five years. The life insurance company signed up for iPipeline’s new end-to-end business ecosystem for consumer and agent-driven transactions, which will help families not only purchase the right coverage, but do so faster And simple.

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“To survive in today’s market, life insurance companies must embrace digitalization and better position themselves to help those who want to protect their financial future well into the future,” he said. ticket hunter, senior vice president of sales for iPipeline. “We are excited to extend our market-leading technology to the fraternal channel at an affordable price and providing members with an improved process. With our end-to-end distribution network and technology ecosystem, BetterLife will be able to simplify their new business process and workflows across the organization, while providing an efficient and effortless digital experience that will help them efficiently open doors and grow.”

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The iPipeline team has put together a fully configurable technology package for BetterLife that streamlines the new business workflow, using proven best practice display, forms and processing. The preconfigured solution comes with streamlined workflows for agent and distribution partners. All this leads to a cost-effective, fast and efficient implementation. To learn more about how iPipeline solutions work together to digitize and streamline life insurance and annuity business processes from start to finish, visit https://www.ipipeline.com/customers/lifeannuities/.

“Today’s members and agents want a fast, easy and user-friendly process for the customer, just as they experience it in any other part of their lives. To do this, we must embark on a strategic digital transformation, which will digitize our processes, making them much faster, easier to use and error-proof,” said Dan Shinnick, CEO and Chairman of the Board of BetterLife. “After an extensive selection process, we chose iPipeline to be our partner in our digital transformation journey. iPipeline is recognized as an industry leader and offered us the important ability to work with one supplier throughout the entire process, from quotes and illustrations to e-Application, direct to consumer, automated subscription, electronic delivery and electronic signature”.

Customers who purchase life insurance and other forms of financial protection from fraternal benefit societies, such as BetterLife, become members with ownership interests and governance rights in these organizations. Profits not required for operations, claim payments and reserve maintenance are returned to their communities through volunteer work and philanthropic donations, or go to member-only benefits. Fraternal benefit societies are exempt from taxes under Chapter 501(c)(8) of the Internal Revenue Code.

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About iPipeline
iPipeline is building the end-to-end digitized ecosystem for the life insurance and wealth management industries, which will enable millions of uninsured and underinsured Americans to secure their financial future as part of a holistic financial planning experience. The firm is working to streamline all application and processing workflows, from listing to commission, and consolidate them within one of the most expansive straight-through processing platforms, significantly reducing paper, saving time and increasing premiums and fees. placements for insurance agents. iPipeline is also committed to offering world-class subscription-based tools to help financial institutions and advisors automate and digitize financial transactions, comply with regulations, and seamlessly add life insurance and annuities to customer accounts.

iPipeline’s digital ecosystem incorporates one of the largest data sets in the industry to enable advisors and brokers to optimize their business. Since its establishment in 1995, iPipeline has facilitated 1.5 billion quote responses, $32 billion in savings on printing and shipping costs, collecting 55 billion premiums and protecting 25 million lives. iPipeline operates as a unit of Roper Technologies (NYSE: ROP), a component of the SP 500®, Fortune 500® and Russell 1000® Indices. For more information please visit https://www.ipipeline.com/.

About Better Life
Founded in 1897, BetterLife is a life insurance company with a difference. BetterLife is member-owned and offers reliable protection, friendly service and expert guidance, all with you and your loved ones in mind. We are passionate about making a difference in our communities. Our mission is to help our members protect their families’ financial futures, build better lives, and improve their communities. For more information please visit https://www.betterlifeins.com/.

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Media contacts:

Laura Simpson
JConnelly for iPipeline
973-713-8834
[email protected]

Dan Shinnick
Chairman of the BetterLife Board of Directors
608-824-6086
[email protected]


Better life


iPipeline

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SOURCE iPipeline; Better life