EXTON, PA (January 15, 2019) – iPipeline® – a leading provider of cloud-based software solutions for the life insurance and financial services industry – today announced a record increase in the number of annuity transactions processed using their AFFIRM for Annuities product in 2018. AFFIRM® for Annuities is used by the nation’s largest financial institutions and their 35,000 advisors to execute order entries for variable and fixed indexed annuities.
AFFIRM for Annuities streamlines and accelerates the order-entry process by supporting customized workflows and suitability reviews, enabling financial institutions to meet their stringent requirements for FINRA, SEC and state compliance.
“A review of our 2018 processing data indicates advisor use of our AFFIRM order entry solution has continued to trend upwards. The total number of annuity transactions processed through AFFIRM has grown to over 240,000 with total deposits in 2018 reaching $31 billion,” said Tim Wallace, CEO, iPipeline. “This uptick is, in part, a testimony to the increasing value being derived by institutional clients and their advisors through our investments in improving the versatility and usability of AFFIRM.”
“AFFIRM has become the software of choice among top-tier financial institutions. Our ability to combine complex carrier product rules with the institutions’ compliance processing needs has enabled us to positively influence how advisors do their daily jobs, while ensuring that only 100% ‘in Good Order’ transactions are processed,” added Wallace. “Fixed indexed annuity sales and variable annuity assets hit record quarterly highs according to the Insured Retirement Institute (IRI).According to the IRI, industry-wide annuity sales hit $54.9 billion in the third quarter of 2018 with the fourth quarter results expected to be strong. The demise of the DOL fiduciary rule last spring, changing economic conditions, and the broadening acceptance of our next-generation order-entry solution account for much of the increase in transactions and total deposits.”
iPipeline’s Connections 2019 User Meeting & Conference will be held at the Aria Resort & Casino in Las Vegas from March 17-19. To hear outstanding keynote speakers, explore products in demonstrations, and attend the more than 70 in-depth workshops with top executives from the Life Insurance and Financial Services industry, register today.
iPipeline’s solutions are designed to enable the life insurance and financial services industry to automate and simplify all new business, administration, and in force management tasks to achieve desirable business outcomes. For assistance in reimagining how your organization does business and achieving a competitive advantage, contact firstname.lastname@example.org or call 1-800-758-0824, option 2.
iPipeline is a leading provider of cloud-based software solutions for the life insurance and financial services industry. Through our SaaS-based new business acquisition platform, we accelerate and simplify sales, compliance, operations and support. We provide process automation and seamless integration between every participant in the financial services industry including carriers, agents, general agencies, advisors, broker-dealers, RIAs, banks, securities/mutual fund firms, and their consumers. Our innovative solutions enable automated processing for pre-sales, new business and underwriting, policy administration, point-of-sale execution of applications, post-sale support, data analysis, reporting, consumer delivery and self-service, and agency and firm management.
iPipeline provides the process automation and seamless integration needed on a global basis to make a sale by aggregating more than 130 carriers, 1,300 distributors and financial institutions, and their agents and licensed advisors in a cloud-based environment. With headquarters in Exton, Pennsylvania, iPipeline has locations in Bromley (UK), Cheltenham (UK), Dallas, Fort Lauderdale, Huntersville, Ontario (CA), Philadelphia, Pleasanton, and Salt Lake City. Visit www.ipipeline.ca.