valmark securities

“The most astounding
feedback from agents
has been questioning
why some carriers
don’t offer e-Delivery.
Electronic is the new
norm. They want
to know why it’s not
available, and they’re
electing to work
with carriers whose
products can be
e-Delivered.”
VALMARK SECURITIES
Innovating with Flexible, Efficient e-Delivery Options for Staff, Agents and Consumers
OLD, WISE AND MODERN
As an experienced broker dealer with over 50 years specializing in equity, investment
advisory and risk management products, ValMark sought to expand upon their existing
technology and leverage their early and successful adoption of iGO e-App. ValMark
understood the financial pressure that agents face to achieve ROI on their business,
particularly when selling low cost products. Agents need transactions to happen quickly
and they want transparency into the delivery process. Document delivery and client
review are major obstacles that agents battle every day which significantly impact their
success.
Operationally, ValMark’s administrative staff shared their frustration with manual
delivery. Time, dollars and effort spent on preparing documentation, policies, re-issues,
etc. lacked efficiency and profitability. When ValMark proposed the idea of e-Delivery to
their administrative staff and agents, the excitement was imminent.
www.iPipeline.com | [email protected] | (800) 758-0824
®
“DocFast provides an
end-to-end, elegant
e-Delivery process
that agents use, and
a customer-centric
solution that customers
and prospects are
demanding.”
SECURITY AND FLEXIBILITY
“With the introduction of iPipeline’s DocFast all parties involved in case processing
really appreciate getting policies and related documents faster and securely. Our
administrative staff used to receive a policy, take it apart to scan every page, then
put it back together manually. It was a labor intensive process that could easily lead
to missing pages, pages out of order, and a lack of confidentiality for the client,” said
Kramer Lawson, Manager, New Business and Underwriting at ValMark. ValMark is
also utilizing DocFast for the e-Delivery of other materials, such as confidential lab
results. The feedback from agents on the ability to e-Deliver, e-Verify and e-Sign
sensitive documentation has been very positive. “The most astounding feedback
from agents has been questioning why some carriers don’t offer e-Delivery.
Electronic is the new norm. They want to know why it’s not available, and they’re
electing to work with carriers whose products can be e-Delivered on a multi-carrier
platform.”
Since each customer and case is unique, ValMark is utilizing DocFast to offer
flexibility in the e-Delivery process. Agents have the ability to have everything
delivered electronically, or they can elect to have their policy e-Delivered to
ValMark, with the option to fully e-Deliver, face-to-face e-Sign or print. “We have
an agent who had a meeting scheduled with a client for a two hundred thousand
dollar VUL case with Lincoln. The meeting was the next day. Lincoln delivered the
policy electronically to the rep, who elected to print it and brought it with him to
the meeting. He loved how fast the process was. He said, ‘I really like this, let’s try
going a little further next time.’ Today, the agent is fully electronically delivering
most of his policies.” For ValMark, the security, flexibility and speed of the solution
has enabled them to achieve impressive adoption and business growth.
BREAKING DOWN THE GEOGRAPHY BARRIER
Life is busy. People travel for work, take vacations, and sometimes relocate their
families to different towns, cities, states and countries. Since implementing
DocFast, ValMark has been able to provide agents with insight into the delivery
process. As result of the status reporting, they know where their clients are in the
process of reviewing policies and important documentation, and if problems arise
they are immediately alerted to help.
ValMark has also seen a lift in business – but from unpredicted sources. Agents
have been able to maintain relationships with clients that have relocated to new
geographies. They have also been able to initiate new business with clients in
remote areas who previously resided outside of a profitable business distance.
www.iPipeline.com | [email protected] | (800) 758-0824
®
ValMark Securities is a
national independent
broker dealer
specializing in equity,
investment advisory
and risk management
products and support
services for the nation’s
top echelon of wealth
transfer and corporate
insurance firms.
valmarksecurities.com
“We have an agent that lives in Omaha, NE. A limited number of his clients are
actually in Omaha. Before e-Delivery, smaller cases that required a two plus hour
drive were difficult to justify. This agent has been able to utilize DocFast to work
with new clients that he was previously unable to service,” said Lawson.
WHY WAIT WHEN YOU CAN AUTOMATE?
For every 200 policies e-Delivered, ValMark and its customers are saving
approximately $1000 in just mailing costs, and they are producing thousands of
policies per year. Add in the time saved for follow-ups and other maintenance during
the delivery cycle and those savings nearly double. They’re also averaging a week’s
reduction in cycle time. Re-issued policies are turning around a week faster as
well, with reviews occurring the same day that the request is made. Couple those
numbers with the reallocation of administrative time and lift in business, DocFast is
making a huge difference at ValMark.
Beyond these results, DocFast is a competitive advantage for ValMark. They’re
providing a benefit to agents and consumers that is in high demand. “Business
moves fast. Distributors and carriers need to see the long-term vision of what
electronic delivery can accomplish,” added Lawson. “It’s so much more than
operational costs now – the buyers want their documentation electronically.
They’re asking for it. DocFast provides an end-to-end, elegant e-Delivery process
that agents want to use, and a customer-centric solution that customers and
prospects are demanding. We’ve taken a big step forward in automating how we do
business with DocFast.”
For more information on ValMark Securities, visit http://valmarksecurities.com/.
ABOUT DOCFAST
Fast and Secure e-Delivery for Your Policies and Documents
With DocFast, iPipeline’s e-delivery solution, you quickly and securely deliver
policies, videos, contracts, prospectuses, business documents, and marketing
collateral. Whether you are completing a product sale or looking to educate,
cross-sell and up-sell, DocFast enables carriers, distributors, financial institutions,
agents and advisors to optimize business opportunity and improve the consumer
experience.
Learn more: www.ipipeline.com/insurance-software/insurance-deliverymanagement-software/docfast
www.iPipeline.com | [email protected] | (800) 758-0824
®