Legal & General America Adopts Paperless Solutions Group's eRequirement to Digitally Collect Missing Insurance Requirement Forms
Legal & General America introduces a digital way to collect missing required forms that typically plague the traditional paper application process. This new service should further reduce cycle times with a goal of increasing placement ratios for their distributor partners.
GAINSEVILLE, Fla., April 2, 2019 /PRNewswire-PRWeb/ -- Paperless Solutions Group (PSG), the premier provider of digitizing processes in the insurance marketplace – announced today that Legal & General America (LGA), a top ten U.S. life insurer, has selected its eRequirement platform to digitally collect forms that were incomplete or missing from the submitted life insurance application – regardless of whether the application was originally sent via paper or electronically.
LGA will be making the platform available for their internal case managers to send these forms directly to customers on the agent's behalf, while notifying both the distributor and agent of the action. In the near future, LGA will allow either the distributor and/or agent to digitally send these forms through the eRequirement platform.
"Our goal at LGA is to provide the best service possible to our distribution partners, agents and to our customers. Missing forms during the application process traditionally add days or weeks onto the underwriting time," said Kris Wong, AVP Operations at LGA. "eRequirement offers us the ability to now turn these missing forms around within hours,cutting our cycle-times down even further – all while simplifying the process for everyone involved."
Jeff McCauley, President at Paperless Solutions Group, stated that, "LGA's adoption of eRequirement is a testament to the need our industry has to solve this problem. With more than 50 percent of all paper applications missing forms or partial data, a large number of policies go not taken each year. We are excited to be leading the charge in this change."
eRequirement helps both direct marketing organizations and traditional brokerage agencies quickly and easily collect missing application requirement forms digitally by the consumer(s). Supporting multiple workflows, eRequirement allows the carrier, the distributor, or agent to start the request to the consumer while keeping all other parties in the communication loop. eRequirement offers a single and multi-carrier experience, contact PSG for additional details.
About Paperless Solutions Group
PSG is a leading provider of cloud-based software solutions for the life insurance and financial services industry. Our products and services provide unparalleled automation and integration for the insurance services industry. These innovative offerings conduct millions of transactions annually by enabling the presale, new business and underwriting, point of sale, and post sale support. To learn more about PSG, please visit http://www.psginc.co
Media Contact:
Paul Carter, Chief Marketing Officer | pcarter (at) psginc (dot) co | 322.331.6262 x 225
About Legal & General America:
Legal & General America (LGA) is part of the worldwide Legal & General Group. For nearly 70 years, the Legal & General America companies have been in the business of providing financial protection through life insurance for American families. The Legal & General America companies are Banner Life Insurance Company and William Penn Life Insurance Company of New York. With more than $53 billion in new coverage issued in 2017, LGA is ranked in the top ten of U.S. life insurers and ended 2017 with in excess of $703 billion of coverage in force with 1.3 million U.S. customers. LGA shares Legal & General's independent financial strength ratings: A+ Superior from A. M. Best and AA- Very Strong from Standard and Poor's and Fitch. To learn more, visit lgamerica.com.
Media Contact: Michelle Mead, Caliber Corporate Advisers | michelle (at) calibercorporate (dot) com | 888.550.6385 ext. 7
SOURCE Paperless Solutions Group
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