iPipeline, which supplies on-demand software to insurance carriers and producers, reports it has been granted a U.S. patent for its computerized method for preparing insurance applications.
Under the method covered by patent, the completion of an insurance pre-application can be outsourced to a service provider, which reduces insurance broker or producer involvement in the application process, according to William Atlee, chief strategy officer at iPipeline and an inventor of the patented method.
“The benefits to the industry as a whole are enormous when you consider the speed to market advantages, gained efficiencies and reduced underwriting time,” Atlee said. “We believe the patented method of preparing insurance applications is of particular benefit in non-traditional markets such as banks and broker-dealers, and we are pleased to have brought this innovation to the insurance industry.”
iPipeline’s products for carriers, distributors and producers automate activities for quoting, forms processing, illustrations development, agency management, requirements ordering, contracting, and content distribution, enabling the insurance industry to market, sell, and process faster.
With headquarters in Exton, Pa., iPipeline has offices in Atlanta, Charlotte, Milwaukee and Salt Lake City.
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