Acquisition Expands Life Insurance Illustration System Offerings with PAS+ Integration for Insurers in the US
iPipeline® – a leading provider of cloud-based software solutions for the life insurance and financial services industry – today announced it has acquired WELIS, a premier provider of life insurance illustration systems to carriers in the US. The WELIS Ascent® Illustration System is designed to help insurers sell and service customers in a multi-channel distribution environment. The award-winning software* is constructed as a standard single life illustration system that can be transformed into a sophisticated multiple life / multiple plan system with a single button click. The acquisition positions iPipeline as one of the largest providers of illustrations in the life insurance industry.
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“Stephen Frederick, CEO of WELIS, and his team have created a benchmark illustrations system against which all other platforms are compared. Ascent will be integrated it into our low code, SSG Digital® Platform and allow agents and advisors to quickly run real-time scenario-based illustrations, save them, and send them to customers for review and e-Signature through our PAS+® agent portal. Agents and advisors can also run an illustration and include it during the e-App process to collect e-Signatures, reducing cycle times and improving iGO® e-App processing rates,” said Larry Berran, CEO, iPipeline. “Carriers can manually run or automate the distribution of in-force illustrations, re-run illustrations during underwriting, and make the necessary distributions to agents and consumers for e-Signature pre- and post-issuance.”
“We are excited about integrating WELIS’ in-force illustration solutions with PAS+ and our ability to offer iSolve®, our research and permanent quoting product, to their customers. Additional Ascent integrations with our AlphaTrust® e-Sign and InsureSight® business intelligence and data analytics products will give insurers great tools to accelerate sales, better leverage information, and increase compliance for in-force reporting requirements,” added Berran. “We are looking forward to changing the permanent insurance game with WELIS’ high-powered illustration system and our omni-channel, quote-to-claim low code platform.”
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“iPipeline has done an outstanding job of developing one of the industry’s most powerful and versatile platforms. The current COVID-19 environment has placed a spotlight on the need to accelerate the integration and use of digital platforms. iPipeline’s clients are well-positioned to reap the benefits of their investments, and our Ascent Illustration System is a perfect next-step for carriers seeking to use a highly customizable, brandable, rapidly deployed product,” said Stephen Frederick, CEO, WELIS. “The integration of Ascent into the SSG Digital Platform with PAS+ will deliver immediate benefits to customers who are committed to taking the digital journey. I am pleased to see our technology being put to great use by Larry and his team.”
Morgan Partners served as exclusive financial advisor to WELIS in this transaction.
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