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Carriers Commit To NAILBA Standard

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The National Association of Independent Life Brokerage Agencies is rounding up support for the new NAILBA Standard Informal Transmittal.

NAILBA, Fairfax, Va., worked with insurers and brokerage general agencies to develop the standard to speed up the process of handling informal inquiries about life applications.

NAILBA says carriers agreeing to use the new standard now include American International Group Inc., New York; American National Insurance Company, Galveston, Texas; Genworth Financial Inc., Richmond, Va.; ING Groep N.V., Amsterdam; John Hancock, Boston, a unit of Manulife Financial Corp., Toronto; Lincoln Benefit Life Insurance Company, Lincoln, Neb., a unit of Allstate Corp., Northbrook, Ill.; MetLife Inc., New York; and Transamerica, Los Angeles, a unit of AEGON N.V., The Hague, Netherlands.

The carriers have agreed to try to process applications with properly submitted informal inquiries in 7 business days or fewer, NAILBA says.