MARKETech Deploys Solution for “Marooned” Insurance Applications

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eRequirement is a new service that automates the acquisition and completion of documents requested by carriers subsequent to application submission.

eRequirement is a new service that automates the acquisition and completion of documents requested by carriers subsequent to application submission. Further, eRequirement is available to any life insurance distributor, BGA, or agent regardless of how the original application is generated; the service leverages MARKETech’s proven FillableForms and eSignature technology to further reduce cycle-time and increase placement ratios.

“According to our review with current distribution, 40% to 60% of all submitted applications are delayed due to additional requirements – usually forms or additional information because of something the carrier underwriter discovers in the review process. The average delay is at least 2 weeks,” said MARKETech President/COO Jeff McCauley. “By automating this process, eRequirement can reduce this delay to as little as one day,” said McCauley.

Thomas Lane, CLU, ChFC, MARKETech founder added, “We all know cycle-time is a major ‘pain point’ in the insurance sales process. eRequirement is a unique and exceptionally powerful tool for addressing issues identified after application submission. When you note also that cycle-time and placement ratio are directly proportional, it is a real winner.”

McCauley added, “eRequirement implementation is simple and can be deployed with minimal impact on the producer’s IT resources. Moreover, eRequirement will work with any app-completion process.”

MARKETech is an industry leader in eApp, eSignature, and data-porting technologies. For more information or to arrange a demo of eRequirement, contact Jeff McCauley at 352 331 6262, extension 263, or at jmccauley(at)marketech(dot)us.

eRequirement is a registered trademark of MARKETech, Inc.
FillableForms is a servicemark of MARKETech, Inc.

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