The Phoenix Companies has announced the launch of eApp, a newly developed electronic application platform created to enhance the way advisors and brokers complete and submit fixed indexed annuity application forms.
A digital platform, Phoenix’s eApp is based on Firelight, an e-application business fulfillment solution from Insurance Technologies. The newest offering allows users to instantly submit annuity application forms via a secure Web portal rather than the traditional time consuming approach of submitting forms by mail.
Mark Fitzgerald, national sales manager at Saybrus Partners, noted that with a variety of evolving annuity products available today, it is critical for advisors to effectively communicate with their clients to provide the right products that align with their unique needs.
Additional requirements around product suitability and increased complexity of product features has increased the number of forms required to sell annuities, he said, adding that as a result, agents are spending more time completing and correcting paperwork, allowing them less time to focus on the client needs.
“With eApp, agents, brokers and advisors have an easy-to-use platform that allows them to more efficiently and accurately complete application forms,” Fitzgerald said.
Additionally, combining with the REALIZE personal retirement analysis online tool, eApp pre-fills many required data fields based on information inputted during the needs discussion and product quoting process.
Fitzgerald said that by using both eApp and the REALIZE platform, agents now have the tools to help guide them through planning conversations to determine the most suitable annuity offering.
The Phoenix Companies is a boutique life insurance and annuity company serving customers’ retirement and protection needs through select independent distributors.
Recently, the company announced capital management actions that combine debt and share repurchases and are expected to reduce its leverage while increasing book value per share (BVPS), earnings per share (EPS) and return on equity (ROE).
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Edited by Rachel Ramsey