7 Powerful Reasons Why e-Delivery is Critical in Annuity Sales

DocFast®, iPipeline®’s e-Delivery solution, allows you to transform the manual document delivery process into a secure, swift, and seamless online document delivery experience.

Our world is digitally focused – and today’s customers want business transactions that are easy, fast, accurate, and secure. We shop online, bank online, wear digital fitness trackers and communicate via email and text messaging.

So why then, is the overwhelming portion of today’s annuities sales still relying on a slow, manual, and paper process?

According to a recent survey by the Insured Retirement Institute (IRI), 90 percent of financial professionals said they would incorporate annuities into their practices if the process included e-Signature and e-Delivery. The annuities industry, however, continues to have a mix of paper and digital processes which adds to the challenge.

In a drive for digitization, I’ve compiled a list of “7 powerful reasons” why e-Delivery is critical to the annuity industry:

  1. Efficiency and Speed: Policy e-Delivery enables annuity providers to deliver documents swiftly and securely to customers, eliminating the delays associated with traditional mail delivery. This enhances efficiency in the issuance of policies and ensures that customers receive important documents promptly.
  2. Cost Savings: By reducing reliance on paper-based processes and postage, policy e-Delivery helps annuity providers cut down on operational costs associated with document printing, handling, and mailing. This cost-saving measure can contribute to overall profitability and competitiveness in the market.
  3. Improved Customer Experience: Offering policy e-Delivery aligns with the preferences of today’s consumers who expect convenient and digital interactions. By providing customers with the option to electronically receive policy documents, annuity providers enhance the overall customer experience and satisfaction.
  4. Enhanced Security and Compliance: Policy e-Delivery solutions often come with robust security features, such as encryption and authentication mechanisms, to ensure the confidentiality and integrity of sensitive information. Additionally, e-Delivery platforms typically maintain detailed audit trails, facilitating compliance with regulatory requirements and internal policies.
  5. Environmental Sustainability: By reducing paper consumption and minimizing the carbon footprint associated with traditional mail delivery, embracing policy e-Delivery supports environmental sustainability efforts. This eco-friendly approach resonates with socially responsible consumers and reinforces an annuity provider’s overall commitment to corporate responsibility.
  6. Streamlined Administration: Policy e-Delivery streamlines administrative processes related to policy issuance, distribution, and management. Digital document storage and retrieval capabilities simplify record-keeping tasks, enabling annuity providers to access policy documents quickly and efficiently whenever needed.
  7. Customization and Personalization: The ability to customize and personalize customer communications is often offered with e-Delivery platforms. With DocFast®, annuitants can receive tailored notifications, alerts, and updates based on their preferences and needs, enhancing engagement, and facilitating proactive communication.

e-Delivery enables annuity providers to modernize their operations, create an easy, fast, secure, and frictionless process for their customers, and improve support and service – all while realizing cost efficiencies, aligning with evolving consumer preferences, and ultimately, helping to increase sales.

DocFast, iPipeline®’s e-Delivery solution, allows you to transform the manual document delivery process into a secure, swift, and seamless online document delivery experience. Geared for carriers, distributors BGAs, and financial institutions, this e-Delivery service simplifies and accelerates the process to enable agents, brokers, and carriers to focus on what matters most — the customer.

I’d love to talk to you more about how DocFast can help! You can click here for more information or reach out and contact me directly.


About the Author

Dennis LaTour is a product enthusiast with more than 20 years of experience in the insurance industry.

With his long-standing experience in product management, Dennis loves working directly with customers on projects and building long-lasting relationships.

Dennis enjoys camping, hiking, and spending time with his family in his free time.


Just your style: