Gleaner Life Insurance Society, a not-for-profit organization offering life insurance and annuity applications, has selected Life Portraits, a product from StoneRiver Inc., an insurance technology applications company.
Life Portraits offers a straight-through processing application of illustrations to e-application and automated underwriting. Although Gleaner had required a web-based illustration software application, the company wanted to rebuild its product portfolio to include annuities and life products. The top priority is migrating Gleaner’s Term Portfolio onto the Life Portraits web illustration software application. Gleaner then plans to move existing Gleaner annuity products into the StoneRiver environment. The final stage in the process will be to transition Gleaner’s Universal Life products to StoneRiver’s Life Portraits for new business processing.
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Gleaner now can retain and recruit talented agents; improve general market competitiveness; cut costs through the reduction of paper-based processing; improve efficiency; make and track changes; and offer personalized products and services to members.
“Gleaner Life is very focused on assisting members,” said Wally Taylor, SVP, insurance operations. “I was familiar with StoneRiver’s strengths in accelerating results for life insurance companies and was impressed with the time they took to understand Gleaner’s business and IT drivers and articulate a strong value proposition, based on our objectives.”
