Karl Anderson

Industry Insights

Modernizing the Life Insurance Buying Process

A recent article by Michael Nyszczot, FSA, MAAA, Vice President, Underwriting and Mortality Management, Penn Mutual Life Insurance Company, in The Actuary Magazine, discusses Penn Mutual’s Accelerated Client Experience (ACE) program.

The ACE program is Penn Mutual’s effort to modernize the life insurance purchase experience for consumers, agents and the company by making it a fully digital experience. This excellent article traces the ACE program from the beginning and provides meaningful insight into its development and on-going evolution. Launched in the summer of 2017, and enjoying high usage by clients and agents, the ACE program has as its goal a comprehensive experience encompassing the:

  1. Application and Underwriting process

  2. Policy Issue, Delivery and Payment

  3. Service

Please click here to read the article.

Digital, Penn Mutual, Technology, Customer ExperienceKarl AndersonPenn Mutual, ACE, Digital, automated underwriting