Catholic Life Insurance has deployed StoneRiver’s LifeApply to enhance the application and submission process for life and annuities products.
The insurer has also deployed ID3 ACORD Transaction Server (ATS) to support ACORD standard transactions.
StoneRiver is a fully owned subsidiary of Sapiens International, a software solutions provider to the insurance industry based in Israel.
Catholic Life has already been an in-production user of StoneRiver’s ID3 policy administration system for life, health and annuity lines of business.
The implementation of new solution will support all Catholic Life lines of business including term life, whole life, universal life, annuities, final expense, and its ‘Just for Kids’ product.
The deployment will include integration with Catholic Life’s agent portal, illustration and other third party software.
Sapiens said that the new solutions will slash time to issue a certificate of insurance, automate generation of required forms for agents, give ability to process commission payments more quickly, improve and simplified workflow from submission to navigation to illustrations besides overall reduction in operational expenses.
Catholic Life president Michael Belz said: “We have been extremely pleased with our StoneRiver system, and it was time to take the next step as we are always looking for ways to further increase efficiencies and enhance services to our members.
“Focusing on the future and leveraging the latest that technology has to offer are key to staying ahead and meeting our business goals. With the addition of LifeApply and ATS we will be able to streamline our application process and ensure that applications are in good order. We anticipate these improvements will add to a higher volume of business and a greater level of automation, speed, and efficiency.”