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What we do


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What we do


An online solution is more than your current products online

 

We help insurance companies offer fully underwritten life and critical illness business online. Our solution provides claim experience that is consistent with traditionally underwritten business. We have designed our own set of underwriting rules that you can use, or if you prefer we can adapt your existing underwriting rules to your online platform.

The first generation of online new business systems relied on simplified issue products. These products overcharge the typical customer in an attempt to mitigate risk from anti-selection. This is a lose-lose situation for insurers and customers.

But, with Acceptiv's new business sales platform you will no longer have to trade off ease of issue with affordability of your products.  We help you offer your customers the best of both worlds – competitively priced products that can be purchased easily.

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Integrated solution


Integrated solution


Market Strategy

Online only or Omni-channel?

Selling online means more that just putting your existing business online. This new world requires integrating a wide-range of services and technologies, understanding the impact on your traditional business and updating your marketing strategy.

We can help you focus on the important changes while keeping true to your core principles, brand values and needs of your stakeholders.

Product Design

We have designed term life insurance and critical illness products specifically for online distribution. These products are designed to be bought online without the need for advice – simple to understand, with no hidden fees or unexpected features; and are designed so the majority of customers can complete the entire purchase process online.

They can also be integrated to work alongside an existing portfolio of advisor based products.

Underwriting

We include underwriting rules developed specifically for online issue. Our database of over 16,000 reflexive questions are designed to achieve the highest automated decision percentage possible. Alternatively, we can adapt your existing rules or ones provided by reinsurer.

Either way, we'll work with you to help make sound business decisions about which cases you may want to order additional tests, or do further investigation.

System

Our new business system was developed by TCP LifeSystems, a leading European software house. We have tailored the TCP Self-Serve software platform and combined it with everything you need to launch a successful online business in the North American market.

The core engine and philosophy is unchanged; an efficient new business engine designed to put business on the books while managing risk. This includes reflexive questions that deliver a simple and easy path to purchase for the majority of customers, and management of manual underwriting where fluids or manual intervention is needed.

Process

Our new business acquisition process  is designed to put business on the books, maximize up-sell and cross-sell, while managing risk.

Our customer journey from start to end, including putting the customer on risk, takes less than 12 minutes. Self-serve applicants do not require an agent to visit, or to provide fluid samples. We have found that only a small percentage of customers opt to talk to someone and very few applications require a manual underwriting review.

We can help you integrate with your current distribution channels, new or current products and your existing processes and systems.

Analytics

Predictive analytics are your secret weapon to keep you ahead of your competition. The digital capture of information, including deep reflexive questions and tracking of journey exit points and changes to answers provides a perfect opportunity for predictive analytics to shine. 

As your business grows we automatically employ predictive analytics to ensure optimal performance of the sales process and underwriting results. 

We can also help you develop a customized marketing strategy, optimize cross-sell of existing business and identify anomalies in business practices.

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Benefits


Benefits


Everyone Benefits

As the insurer, you gain access to the elusive, hungry, under-served middle market. You take a giant step towards faster, more economical, accessible solutions.

You follow the recommendations of the world’s top accounting/consulting firms (“speed up the automation process,” “develop direct-to-consumer options” “develop new routes to market”), with minimal risk.

The Acceptiv solution is more than just online service of your middle market. It’s your beachhead in the new online world. 

You get...

  • Virtually risk-free end-to-end solution
  • Unparalleled access to under-served middle market
  • Establish your brand early and often – edge out late-comers
  • Ability to serve your customer instantly, the moment they decide to go ahead – grab the moment

Your prospects get...

  •  To research, choose, and decide on their own, in private, in their own space
  • 24/7 access – the moment they’re interested/ready, you’re there to meet their need 
  • On risk in 12 minutes versus 47 days
  • Simple, clear life insurance policy, designed for online fulfillment