Woodmen of the World Chooses PureEdge Solutions to Modernize and Automate Field Operations
Leading insurance company to enhance agent productivity and reduce acquisition time and costs with PureEdge E-Forms
Victoria, BC - November 17, 2004 - PureEdge Solutions Inc., the leading provider of e-form technology to enable forms-based business processes, today announced that Woodmen of the World Life Insurance Society, one of the largest fraternal benefit societies in the United States, has chosen PureEdge e-forms to increase efficiencies and streamline the processes used by insurance associates across the country in their core customer-facing activities (policy applications, form updates, quotes).
Founded in 1890, Woodmen writes more than one billion dollars in annual premiums and has more than $32 billion of in-force business. Woodmen's insurance products include whole life, flexible premium life, term life, and hospital supplement insurance, cancer insurance, long term care insurance and annuities. Investment products and home mortgages are offered through Woodmen subsidiaries.
As one of the nation's largest fraternal benefit societies, Woodmen attributes a large part of the company's financial success to its Field and Home Office associates. Woodmen chose PureEdge to provide an enterprise-wide e-forms solution that automates life insurance applications and streamlines how its field representatives conduct business.
PureEdge e-forms increase productivity and efficiency of representatives, while reducing data entry errors and cutting processing application times. From the field, Woodmen representatives are able to enter, access and work with customer and product data to illustrate, and complete signed applications that can be easily submitted to the Woodmen Home Office. The end result enables Woodmen representatives to provide faster, superior service in multiple business areas while greatly reducing the time and costs associated with new business processing, underwriting, and policy issuance.
Specific features that the PureEdge e-forms solution will provide Woodmen include integration with existing customer database information, online/offline capabilities, E-Pad integration and Tablet-PC based signing to save field representatives time and facilitate the efficient submission of mobile insurance applications. Additional benefits that PureEdge e-forms offer to insurance providers include market conduct and regulatory compliance, consistency of data representation and auditability.
"A key focus of Woodmen's corporate vision is to help ensure financial security for our members by providing quality products and exceptional service," said Robert Rubio, Vice President, Information Services, Woodmen of the World. "The implementation of the PureEdge Insurance Forms Platform enables us to assist our field associates in providing a high level of service to our valued members across the country in a cost effective manner."
"XML-based e-forms provide many advantages to insurance companies as they automate processes, move data in and out of corporate systems, and store all elements of a new business applications and claims in a secure file," said Mark Upson, President and CEO, PureEdge Solutions. "PureEdge enables these benefits by providing easy-to-use solutions that simplify data capture, ensure data quality, and enhance user productivity. Insurers, agents and brokers can easily link forms and back-end systems to integrate silos of information, optimize processes and ultimately provide improved services while reducing expenses."
PureEdge e-forms have been chosen as the industry standard by the Association for Cooperative Operations Research and Development (ACORD), who have used PureEdge technology to power their fillable e-forms. ACORD now offers their entire library of over 560 forms in PureEdge XML e-form technology to provide online fillable forms to the industry.
