Hexure, a provider of sales and regulatory automation solutions for the life and annuity industry, announced today a partnership with SuranceBay, an insurance technology provider of contracting and compliance software that automates various aspects of the producer-distributor-carrier relationship. This collaboration streamlines the can-sell verification process while also enhancing in-good-order (IGO) life and annuity business transactions through the integration of Hexure’s FireLight platform and SuranceBay’s SureLC™ solution.
“Missing licensing, appointment, and product training are primary contributors to NIGOs and present significant challenges within our industry,” said Kevin Pohmer, chief product officer for Hexure. “Partnering with SuranceBay enables us to provide tools within FireLight that not only verify eligibility to sell but also provide just-in-time functionality to address requirements. This empowers advisors to confidently proceed with sales, assured that they will be in good order.”
The FireLight and SureLC integration significantly reduces not-in-good-order (NIGO) submissions due to missing advisor requirements, such as licensing, carrier appointments or product training. This integration eliminates the need for navigating between systems to verify eligibility or to complete missing requirements before moving forward with the application submission, thus driving sales efficiency and better experiences for the client.
“Everyone involved in the purchase and sale of financial products benefits when surprise roadblocks are prevented. SuranceBay has been providing online contracting and licensing solutions for many years, and we’re thrilled to be partnering with Hexure to extend the reach of our compliance monitoring to the point of sale so producers and distributors can avoid delays and place business more quickly and confidently,” said Mike Abrahamson, director of Client Relations and senior business analyst for SuranceBay.
Hexure clients who use SuranceBay can easily activate the SureLC integration by implementing a SuranceBay authentication token within the FireLight admin tool, quickly enabling can-sell checks for their advisors directly within FireLight.
