LifeDX Uses Innovative Technology to Simplify Exchange of Real-time Data While Offering Customizable Experiences Without Drain on Development Resources
It was announced the LifeDX platform from IXN launched with Pacific Life as the first life insurance carrier onboard. LifeDX is a multi-carrier platform that provides an application programming interface (API) solution for quotes and application submissions for the life insurance industry.
Leveraging APIs for quotes and application submissions streamlines integration between distributors, vendors, and carriers through a one-time build that can be re-used as connections are needed with other organizations. Going forward, as carriers make changes, distributors and vendors can avoid ongoing updates saving valuable development time. This can naturally reduce the effort for distributors or vendors to onboard additional carriers. It can also provide an opportunity for significant operational efficiency because there is only one source for securely accessing and transmitting information to and from these organizations. “We view this API platform as a highway,” said Boyd Ervin, director of system integration, New Business & Underwriting, Pacific Life. “As other carriers join us on the platform, and as we and the other carriers invest in and enhance the platform, everyone using this highway benefits.”
Read More: Syncapay Acquires Subsidiary of Wirecard AG
Ervin went on to say, “This is an opportunity for Pacific Life to be a part of leading the industry in adopting new technology and empowering distributors to create a unique agent experience while we manage the content and data for them, with LifeDX. The market analytics available through this platform enable us to provide more targeted and timely product iterations for our customers.”
Kevin Pohmer, CEO, IXN, had this to add, “The LifeDX API framework is what our industry has needed for a long time—a standardized and secure central API-centric solution that makes it easier and faster to securely ingest data from multiple carriers to deliver real-time to our customers and in turn to deliver back to carriers. We’re excited to see the innovation this platform encourages in this industry, because until now, sharing data between organizations has been a time-consuming manual process making it difficult for new solutions to enter the marketplace.”
