Genworth Financial, Inc. (NYSE: GNW) recently announced the launch of its eSuite of new business tools, an end-to-end electronic process designed to simplify and expedite new long term care insurance applications and increase producer efficiency. This electronic process reduces cycle time from application signature to policy in-force date by 20 days, making the sales process fast, easy and convenient for producers and their clients. This is important with companies these days, everything has to be quick and good quality, from project management office software to financial support planning.
Genworth’s eSuite of new business tools is far more robust than a fillable PDF. It includes:
- eApp, an interactive tool that guides producers through the application, ensuring they answer exactly what is needed before they complete the sale. Once complete, the producer can rest easy knowing the application is in good order.
- eSignature, which permits clients and producers to electronically sign and submit applications to the home office in real-time, a step that previously took up to eight days.
- eScheduling, which provides producers the ability to schedule underwriting interviews on their clients’ behalf, saving clients another extra step.
- ePolicy delivery, which gives clients the opportunity to review and approve their policy electronically, reducing policy delivery time from weeks to as little as one day.
“The eSuite of new business tools illustrates Genworth’s continued efforts to transform the long term care insurance sales process by providing a new level of speed, accuracy and convenience,” said David O’Leary, president and CEO of Genworth’s US Life Insurance division. “Simplifying and streamlining the policy application process is an important part of our efforts to make long term care insurance more accessible to customers and getting them covered faster.”
Producers already using the eSuite of tools have found it provides a simpler, expedited sales experience that is easy to navigate. It also brings convenience and efficiency to producers who work remotely, or do not live near their clients, through the ability to share screens.
“Combined with our best-in-class claims service and a redesigned underwriting process, the eSuite of business tools will provide distributors, advisors and consumers a superior, differentiated experience in each step of our relationship,” O’Leary said.
The eSuite tools are available with Genworth’s Privileged Choice® Flex 3 and ElementSM long term care insurance products.
Producers can learn more about Genworth’s eSuite of new business tools at: https://www.genworth.com/sales-center/sales-support/quoting-tools/esuite.html.
