TAMPA, Fla. (December 10, 2015) – SuranceBay, a leading full-service software provider exclusively serving the insurance industry, is pleased to announce that Legal & General America (LGA) has selected SuranceBay’s cutting-edge application, SureNB™, enabling LGA’s distribution partners to automate and enrich the new business application process. Ranked fifth for new coverage issued in 2014, LGA’s companies, Banner Life Insurance Company and its subsidiary, William Penn Life Insurance Company of New York, have been providing life insurance protection to American families for more than 65 years.
An overview of the technology:
- SureNB™ enables users to electronically run quotes, submit drop-ticket orders, and complete new business applications – all within a single, comprehensive application.
- SuranceBay is also planning the release of an application to work in tandem with SureNB™: SureAMS™ – an Agency Management System that tracks new business from submission through issuance, enabling BGAs and producers to view pending case status. SureAMS™ will be available in mid-2016.
- The two applications are part of SuranceBay’s core platform, SureApp™, which holistically addresses the needs of the insurance industry with eight different modules that integrate all points of insurance distribution.
“LGA has such a rich history, rooted in outstanding service, so we’re especially honored that they’ve embraced our technology to provide their customers with the quality, security, and expedience they expect,” said SuranceBay Managing Partner, Brian Morton. “The insurance industry is seeing a transformative phase right now, and LGA recognizes that the adoption of advanced technologies can be a key differentiator.”
“We were one of the first to support SuranceBay’s flagship solution, SureLC™ (Licensing & Contracting), and saw it had a significant impact on new business,” said LGA’s Vice President of Administrative Services, Eric Lester. “In seeking to offer our distribution partners an easy-to-use, all-digital platform for drop-tickets and new business submission, we were really impressed with the SureNB™ application, so selecting SuranceBay was truly a no-brainer.”
Founded in 2009, SuranceBay’s mission is to provide technology solutions that streamline the buying and selling of insurance. The company’s flagship service offering, SureLC™, is the industry’s leading multi-carrier contracting automation solution. SuranceBay currently supports the licensing and contracting needs of over 500 BGA’s, more 225,000 producers, and 400+ carriers across the United States.
Legal & General America
For over 65 years, the Legal & General America companies have been in the business of providing financial protection through life insurance for American families. The Legal & General America companies are Banner Life Insurance Company and its subsidiary William Penn Life Insurance Company of New York. With more than $73 billion in new coverage issued in 2014, LGA ranked fifth in the U.S. and ended 2014 with in excess of $634 billion of coverage in force with nearly 1.2 million U.S. customers. LGA shares Legal & General’s independent financial strength ratings: A+ Superior from A. M. Best and AA- Very Strong from Standard and Poor’s and Fitch. Gene R. Gilbertson serves as the President and Chief Executive Officer of LGA.