IPipeline, a provider of life insurance software, has acquired Resonant, which makes a life insurance underwriting product.
Terms of the deal, which comes at a time of increased M&A in the insurance software industry, were not disclosed. All Resonant employees will be brought in under the iPipeline umbrella. CEO Dr. Brian Falkenhainer will become VP of underwriting products for iPipeline.
Resonant’s platform aggregates information gathered from users and third-party vendors, automating the processing of compliant cases, whether they are medically underwritten or "jet" underwritten. It covers guideline definition, case management, decision support, and real-time monitoring of all business decisions and processe.
“Although underwriting has been traditionally a manual, labor intensive activity, it can be substantially automated by addressing the complete lifecycle,” said Tim Wallace, CEO, iPipeline. "Our goal is to take the complexity out of the underwriting tasks through automation while allowing each insurer to manage to their risks. The acquisition of Resonant will enable our customers to achieve greater operational efficiencies and speed-to-market advantages to fuel growth.”
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