SBLI Wins Prestigious 2017 Celent Model Insurer Award
Celent recognizes SBLI’s pioneering Accelerated Underwriting program
Tuesday, May 2, 2017 5:00 A.M. EDT
“The Model Insurer award highlights the insurer’s [SBLI] ability to improve performance and meet market demands when tackling issues that face all insurers today”
Woburn, MA – (BUSINESS WIRE) – SBLI announced today that it has been selected by Celent as a winner of its prestigious Digital Model Insurer Award for 2017. Celent’s Model Insurer award recognizes the year’s top “real world” technology initiatives and highlights the insurer’s ability to improve performance and meet evolving market demands. Celent is a research and consulting firm focused on the application of information technology in the global financial services industry.
The “real world” initiative recognized by Celent is SBLI’s highly innovative Accelerated Underwriting program. SBLI constantly analyzes barriers that prevent individuals and families from getting adequate financial protection. One of these barriers is the underwriting process, which consumers often perceive as long and complex. Through advanced data analytics, SBLI’s Accelerated Underwriting program significantly compresses underwriting cycles and simplifies the underwriting process, resulting in a more positive customer purchasing experience.
Donald Light, Celent Research Director, said, “In choosing Model Insurer Awards winners, we look for uses of technology that deliver true value to an insurer, its distribution partners, and its policy holders. SBLI has met this high standard by leveraging data and employing its modeling prowess to dramatically improve the experience of its customers and distribution partners.”
“Since SBLI’s formation by Louis Brandeis more than 100 years ago, our core purpose has been to help families in all socio-economic segments achieve adequate financial protection. Since we rolled out Accelerated Underwriting last May, market feedback has been tremendously positive, particularly because it includes all risk classes. In collaboration with our distributors, we’re seeing great success with previously untapped market segments. We continue to invest in pragmatic technology and advanced analytic talent to enhance the customer purchasing experience,” added Jim Morgan, President & CEO of SBLI.
Conceived by U.S. Supreme Court Justice Louis D. Brandeis, SBLI (Savings Bank Life Insurance) was established in Massachusetts in 1907. SBLI is currently licensed in 49 states and the District of Columbia, and is a leading provider of affordable, dependable life insurance.
Dave Ehrenthal, 781-994-5483