Gainesville, FL - (PRWEB) May 06, 2013
Legal and General America today announced its choice of eRequirement, Paperless Solutions Group’s product that automates the acquisition and completion of documents requested by carriers subsequent to application submission. These are missing or incomplete requests/requirements needed for completion of the underwriting process.
“eRequirement is the long-sought solution for a major industry challenge”, said Eric Lester, Legal & General America Operations Vice President. “Many applications are delayed because collecting requirements subsequent to submission is so cumbersome and time-consuming. Too often, applicants become frustrated at the delay and brokers can see sales slip away. eRequirement automates collection of these forms and data which will significantly reduce the response time to collect this information”, said Lester.
“40%+ of all submitted applications are delayed due to additional requirements – usually forms or additional information because of something the underwriter discovers in the review process. The average delay is at least two weeks,” said PSG President/COO Jeff McCauley. “With eRequirement this delay is often reduced to one day and some are completed immediately,” said McCauley.
Lester added, “All brokers and distributors will be encouraged to use eRequirement as it offers important and affordable efficiencies without major process changes. It is valuable, easy, affordable – and needed. eRequirement is the right solution at the right time.”
McCauley said of Legal & General America’s strategy, “Because eRequirement works with any application (paper to electronic) the completion process and is simple to use and brokers will appreciate the resulting cycle-time and placement improvement. This is a proactive strategy which will help any broker who writes with Legal & General America.”
About Legal & General America:
Headquartered in Urbana, Maryland, Legal & General America is in the business of providing life insurance protection for American families from coast to coast. Banner Life Insurance Company and its subsidiary William Penn Life Insurance Company of New York, make up the Legal & General America companies. Its parent company is Legal & General America Group Plc., an international insurance organization founded in 1836.
About Paperless Solutions Group (PSG):
Paperless Solutions Group is an industry innovator in eApp, eSignature, and data-porting technologies that is based in Gainesville, Florida.
eRequirement is a Trademark of Paperless Solutions Group
For more information or to arrange a demo of eRequirement contact Jeff McCauley at (352) 331-6262, extension 263, or at jmccauley(at)paperlessolutions(dot)net