Fort Lauderdale, FL (PRWEB) August 13, 2013
Aplifi®, a leader in technology solutions for the insurance and financial sectors announced today that it was awarded a US Patent (US 8,504,457 B1) for electronic delivery of Insurance Polices and Annuity contracts related to the delivery process and the unique ability to include multiple routing scenarios while adding marketing and branding for all parties.
Aplifi can now offer feature sets during the electronic document delivery process that “no other” vendor, provider or technology solution will be able to include, all while providing unmatched benefits for PolicyBox users. The patent gives the insurance carrier, distributors, and producers the capability to have more control over the routing of documents and extend their branding efforts via various means; such as adding additional marketing materials, personalized correspondence, company logos and allowing producers to add their own virtual business card to the electronic packets. By doing so, PolicyBox provides organizations with a new channel of communication to their clients which has been shown to dramatically increase adoption of document e-delivery as a whole.
Carriers, distributors, and producers are now seeing major cycle time reductions by delivering insurance policies electronically through PolicyBox. According to various industry studies, the average cycle time for paper policy delivery ranges from 23 to 28 days. With PolicyBox, these delivery cycle times are reduced by as much as 70% on average with just over 50% being completed in less than 5 business days. More notably, nearly 10% of polices utilizing PolicyBox are delivered, signed and returned electronically in less than one day.
Until recently, distribution channels have been limited in their choices for electronic policy delivery. Aplifi offers a no-cost PolicyBox e-delivery model providing distributors with significant cost savings over traditional ‘paper’ delivery. Since then, distributors have moved towards abandoning carrier-proprietary systems in favor of multi-carrier platforms that offer broader functionality and allow for a unified advisor experience. Now, having a patented process PolicyBox is the only solution that can provide distributors and producers an electronic process that more closely mimics their existing workflows and processes. Doing so helps build better adoption and provides greater benefits to the market.
The PolicyBox patent provides the insurance carrier, distributors, and producers with the capability to extend and control their branding and marketing efforts throughout the e-delivery process. PolicyBox provides organizations with a new channel of communication with their clients, and has been shown to dramatically increase adoption of document e-delivery.
“We could not be more excited about being awarded a patent for our PolicyBox product,” said Dan Smith, President and CEO, Aplifi. “The patent reinforces our ability to offer extraordinary feature sets that help grow end user adoption that no other e-delivery platform can now offer.”
Bill Levinson, Managing Partner, Levinson & Associates said, “Producer adoption of any new technology platform is extremely tough especially when they feel like they have been disenfranchised in the process. Allowing the producer to add their branding in the e-delivery of the policy to their customers dramatically reduces their concerns and PolicyBox has helped us make huge gains in getting producers comfortable with the making the change.”
PolicyBox is a electronic policy and document delivery platform for the insurance and financial services industries. This web-based system provides more than just simple & secure PDF document e-delivery to the consumer; PolicyBox also allows for each level of the distribution channel to offer its own branding and marketing messaging to its downstream customers. PolicyBox -supports the communication needs of carriers, general agencies, broker-dealers, banks, and producers.
Aplifi (http://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 “In Good Order,” driving increased business. Its suite of flexible and easy to use platforms include AFFIRM for Life, AFFIRM for Annuity, I-Relay CRM, and PolicyBox®. “We Simplify Selling Insurance!”
About Levinson & Associates
Levinson and Associates (http://www.carylevinson.com) Phone: 800.375.2279. Levinson and Associates is a National Insurance Marketing Company domiciled in Florida since 1972. As such, we specialize in the servicing of our field force, and the distribution of the most competitive products for term, universal life, whole life, simplified issue, annuities, and survivorship products. We are a full service marketing company equipped to help during the entire underwriting process. From our most inexpensive term, jumbo permanent products, or annuities, our administrative staff, with over 40 years of combined insurance experience, stands ready and very able to help with all your insurance needs.
800.861.8908 x 228
Levinson & Associates
Aplifi, AFFIRM for Annuities, PolicyBox and I-Relay are registered trademarks of Aplifi, Inc. AFFIRM and AFFIRM for Life are trademarks of Aplifi, Inc.