“The acquisition of AgencyWorks is the next step in our vision to create the most comprehensive and integrated solution available to the life insurance and annuity industry for straight-through processing,” says Tim Wallace, CEO, iPipeline. “The addition of AgencyWorks to our existing services platform extends our holistic vision of how carriers, distributors and agents can achieve new efficiencies and returns from a fully integrated platform.”
Currently, more than 50 carriers and 350 distributors use the AgenyWorks system to process in excess of 1 million insurance applications annually, iPipeline reports. “By combining iPipeline and AgencyWorks, we have increased our customer base to more than 160 leading insurance companies, and more than 1,200 BGAs, banks and broker-dealers to create the largest insurance network in the industry for more than 600,000 producers,” Wallace says.
AgencyWorks will continue to operate as a standalone business unit of iPipeline with all AgencyWorks’ employees being offered positions by the iPipeline team. “By teaming up with iPipeline, we will now be able to ensure seamless integration from the producer through the distributor to the carrier and provide better real time information on the life cycle of the insurance sale,” says Andrea Evans, president of AgencyWorks. “We are excited about our ability to increase the value proposition to the industry by providing one platform via one service that includes CRM (lead and campaign management), quoting and illustrations, iGO e-app, AMS and e-Policy for the carrier, distributor and producer.”
