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What is an Electronic Signature? Voice Signature E-Signature Why use an Electronic Signature Process? Strengthens auto - PowerPoint PPT Presentation

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What is an Electronic Signature? Voice Signature E-Signature Why use an Electronic Signature Process? Strengthens automated application processes Elevates both the Agent and the Customer Experience Reduces Issues with Incomplete Forms Improves Time Service

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What is an Electronic Signature?

  • Voice Signature

  • E-Signature

    Why use an Electronic Signature Process?

  • Strengthens automated application processes

    • Elevates both the Agent and the Customer Experience

    • Reduces Issues with Incomplete Forms

    • Improves Time Service

    • Back Office Operations become more Efficient

Elevates the Customer Experience

  • Attracts the younger generation

  • It’s expected

    Elevates the Agent Experience

  • Reduces administrative burden

  • Focus on higher sales productivity

    Improves Time Service

  • Transactional

  • Ready to process in minutes.

Reduces issues with Incomplete Forms (NIGO)

  • Accurate and complete form selection and packaging

  • Forces all required signatures on all required locations

    Back Office Efficiencies are Increased

  • New Business Admin

  • Underwriting

  • Policy Issues

Global Impact to the Entire Process

  • Compliance

  • Producer/Agent

  • Customer

  • Requirement Vendors

  • Back office processing

  • Consider a modular approach

    Call MRS

  • Successful history of integrating several types of E-Signature solutions.

  • Flexible IT platform allows highly customizable solutions

  • Established integrations with MIB, RX, MVR and Paramed Vendors

Regulatory settlement agreements
Regulatory Settlement Agreements

  • Customer A

    • Fuzzy SSN

    • Fuzzy First Name

    • Fuzzy Last Name

    • Fuzzy Date of Birth

  • 30,000 Record Test

    • 60,000 Results

  • Customer B

    • Fuzzy SSN

    • Fuzzy First Name

    • Fuzzy Last Name

    • Exact Date of Birth

  • 30,000 Record Test

    • 6,000 Results

Bdas death audit systems
BDAS Death Audit Systems

  • Desktop Solution

    • 3,000,Records per Minute

    • NCOIL Compliant

  • In-House Solution

    • 1,000,000 Records per Hour

    • Company A – Company B Logic

  • Black Box Solution

    • Same Logic – Speed as Above

    • Leased System – Behind your Firewall

Bdas test audit set generator
BDAS Test Audit Set Generator

  • Test Your System or Your Vendor’s System

    • Company A RSA Logic – 840 to 1,470 Combinations

Address beneficiary lookup
Address & Beneficiary Lookup

  • On-Line System

    • Audits Each Record for Deaths

    • Searches for Change of Address

    • Corrects ‘Broken Addresses’

    • Picks Most Current Address

    • Deliverable Indicator

Barriers to entry
Barriers to Entry

  • Barriers to entry have long kept many fraternals from enjoying efficient, modern policy administration platforms.

    • High costs

    • Lack of internal IT resources

    • Infrastructure complexity

    • Homegrown solutions that are “good enough”

The cloud has arrived
The Cloud Has Arrived

  • The maturation of cloud computing technology has removed many of the barriers holding fraternals back.

    • Modern systems available to any size insurer

    • Reduced infrastructure costs

    • Increased IT focus on core competencies

    • But all cloud environments and providers are not equal …

Enter andesa services
Enter Andesa Services

  • Andesa is a recognized leader in outsource life insurance services, with 30 years of experience providing best-in-class solutions for all types of products and blocks.

    • Clients of all sizes and complexities

    • Flexible delivery model

    • Tireless client advocates

    • Ongoing relationships with nation’s largest insurers

The cloud working for you
The Cloud Working For You

  • Andesa’s secure, private cloud environment is the perfect solution for fraternals seeking a modern, cost-effective policy administration system.

    • Create time- and cost-saving efficiencies

    • Improve speed-to-market

    • Mitigate compliance risks

    • Elevate the end-customer experience

Dmf audit report items
DMF audit report items:

  • List of excluded policies … with reasons

  • Policy value

  • Beneficiary demographic details

  • Remit state

  • Due diligence status

  • Outreach results

  • Direct payment details (and history)

  • Remit details (and history)

  • Reconciliation .. At close of audit


New Process

Keane audit tracking tool katt
Keane Audit Tracking Tool (KATT)

  • Requirements: extract of policy information (daily)

  • Deliverables:

    • All reports required by auditor

    • Due Diligence mailing data

    • Remit report details

    • Daily production

    • Historical summaries

Katt integration of non audit process
KATT: Integration of non-audit process

  • Tracking of DMF hit validation

  • Beneficiary outreach: status, result, record

  • Management of Address Details

    • DOI requirement may conflict with UP requirement

  • Maintenance of details for UP requirements

    • Proper address

    • Remit state

    • Remit report details

Actionable insights to drive results


You knew EXACTLYWHEN to contact a potential customer?

You knew HOW LONG an individual would stay on disability?



You knew WHO would be strong promoters and referrals?

You knew YOUR SHARE in key markets?

Targeting “life events” with Twitter

What can be done?

our analysis indicates that 20% of all marriages in US can be identified before the event itself

How did we do it?

We used 60 Key Words 3.4MM Marriage relevant Tweets …

Inter-month overlaps / Search String Efficiency / Geo-Tagging/Filtering

899K Individuals getting married

… out of 2.1MM Marriages each year (4.2MM Individuals)

How it can help you?

  • Timely targeting/messaging: Life Insurance / Annuities

  • Custom messaging based on geography/ interests

  • Tailored to a variety of life events: first job /child /home

Predicting Disability Length (Days lost)

What can be done?

  • Through analytics, close to 2/3rds of all Claim Benefit cases,

  • lost time days can be predicted with accuracy

How did we do it?

We aggregated datafrom multiple sources…

Claimant, Disability, key dates, Type of Return, Financial, Medical, Policy, Payment

predictive model based on type of duty release / job availability

Models for Short Term Disability/ Long Term Disability

How it can help you?

  • Better claim handler assignment (based on claim details)

  • Accurate Reserving by understanding severity early

  • Identifying outliers for investigation (overpayment/Fraud)


Clearing House that aggregating the billions of

dollars in annuity transactions each year….

Segmented by carrier, distributor, product, product type, account type,

Zip Code Level Insights on Market share/Growth

Getting Started: Beyond Insights / Enabling Quick Action

You could implement a solution in under 100 DAYS!!




The solution was both AFFORDABLE and SCALABLE!!

Why use third party administration tpa
Why Use Third Party Administration (TPA)?

Launch New Products Faster and More Cost-Effectively

Reduce Conversion Risk

Reduce Unit and Overall Costs

Transform with Lower Risk

Reduce Compliance Risk

Improve Persistency





Reduce Reserve Requirements

Focus on Core

Modernize Technology / Retire Systems

Improve Customer Service



Ability to Scale


for Success

Improve Distributor Experience

TPA usage over time

Growth via

M&A and New Products

Growth via

New Products

Growth via


  • Annuity business

  • Closed block, new product, virtualization

  • Full BPO, eSaaS

  • Annuity & Life registered & non-registered

  • M&A, closed block, new product

  • Full BPO, eSaaS

  • 22 direct customers

  • 2015 Trend

  • Annuity & Life

  • M&A, virtualization, closed block, new product

  • Full BPO, eSaaS

  • Annuity & Life, registered & non-registered

  • Full BPO

  • M&A, closed block

  • 4 direct customers

Peripheral Deals / Point Solutions

403(b)connect l Death Audit Services l directdoc® l Distribution Support l Statutory Reporting

The Numbers…

  • Highlights

  • Previous Year: 2013

  • Servicing 8 Insurance clients for new business processing

  • 108,405 new policies processed

  • YTD Stats Q1

  • 28,300 new business apps for 9 clients

  • 2014 new apps are up 84% from prior period

  • 22 products scheduled; 6 are completed

  • Product Build Trends

  • 22 new products in development for 7 clients in 2014

New Business Issued Last 3 Years

Product Build Activity Last 3 Years

Case studies
Case Studies

Carrier A:

  • New product in-house technology drives high cost and long timeline

  • Strategy to leverage third party to launch product

  • Product launched in 6 months for $1M

    Carrier B:

  • Carrier embarks to supplement captive distribution with third party distribution

  • Greenfield strategy used to virtualize, free strategic group to focus on core

  • 3 products launched within 9 months

    Carrier C:

  • Carriers launches initiative to expand into the Index space

  • Carrier leverages partnership with TPA for expansion

  • Index product launched within 4 months – and over $1B sold in first 12 months

The times they are a changin
The Times, They are a Changin’

  • The target market will get younger.

  • People take information differently today.

  • A brief anecdotal interlude.

  • Moral of the story?

  • Always does.

  • Sources of information have changed.

  • A short story based on personal experience.

  • People can’t listen if they can’t hear you.

  • Understand how your target market takes information

Understanding the demographic
Understanding the Demographic

  • The baby boom; the baby boomlet.

  • Information more available today.

  • Consumers tend to believe what they find for themselves.

  • The 50-65 demographic; the 25-40 demographic.

  • The internet makes it so.

  • The internet is also a source of abundant misinformation.

  • 7/3/13 (yahoo): Americans spend 23 hours per week online, texting

Email one way to reach your market
Email – One way to reach your market

  • The baby boom – the 50-65 demographic

  • The boomlet – the 25-40 demographic

  • Push for less.

  • Some people won’t open a newspaper or magazine.

  • The email ‘touch’ is more effective sometimes.

  • Uses email

  • Uses email; also social media

  • Email is free.

  • Those same people are locked at their desk or their mobile device. They will read or at least see an email.

  • Mail gets recycled. Email gets archived; is sticky.

Bulk email services
Bulk Email Services

  • An effective email campaign should originate from a bulk email server.

  • Bulk email services adhere to recipient ‘unsubscribe’ rules.

  • Design templates that are easier to read and work better.

  • Email addresses can be harvested, or targeted and acquired for a minimal fee.

  • Inexpensive, efficient, plans vary

  • You do not want to hit ‘send’ over 1000 times.

  • Email originating from these servers is allowed to pass.

  • You choose. Which one is more inviting?

  • Typically, 10,000 email addresses, unlimited email ‘blasts’ each month costs about $100.