An insurtech company, iPipeline Inc., is making LexisNexis Risk Solutions data tools available to users of iPipeline’s electronic application system and the company’s Resonant New Business and Underwriting products.
(Related: Reinsurer Adds Health Scoring Tool)
Access to the LexisNexis tools will help users of the electronic application system verify an applicant’s identity, fill in some application fields automatically, and implement other processes that require access to consumer information.
Resonant system users will get access to the LexisNexis Risk Classifier system, the LexisNexis National Credit File, and other tools that may help with underwriting, according to iPipeline and Lexis Nexis.
In related news, iPipeline says Mutual of Omaha has started using its Maestro electronic application adjustment tool.
The tool helps insurers make simple changes to electronic applications themselves.
Mutual of Omaha used the tool to design and launch application systems for new accidental death and cancer insurance products, iPipeline says.
Three organizations that are part of LL Global — LIMRA, LOMA and the Secure Retirement Institute — have worked with a 10-member Founders Council to create the FraudShare system.
The system gives financial services companies a vehicle for sharing information about criminals’ efforts to take over consumers’ accounts.
Participating insurers can use the tool to report on the types and frequency of account takeover fraud occurring in the life insurance and retirement services industries, according to the LL Global organizations.
PolicyGenius Inc., a company that sells insurance online, has developed a new life insurance Coverage Calculator tool and a new embeddable Pricing Widget.
The calculator tool shows consumers how much life insurance they are likely to need, and explains the calculation.
The Pricing Widget tool estimates how much a consumer’s life insurance might cost, based on the consumer’s age, gender, zip code and health.
Policygenius based the price estimates on the results of anonymized life insurance applications processed January 2019 to June 2019.
Unum Group has started using a system from Clearwater Analytics to replace about 20 investment management systems.
The new Clearwater system handles portfolio data management, accounting, and financial reporting, according to Clearwater.
— Read WoodmenLife Updates Illustration System, on ThinkAdvisor.