ATLANTA, March 23, 2018 /PRNewswire-USNewswire/ -- The Life Insurance Direct Marketing Association (LIDMA) is now accepting nomination applications from life insurance industry companies or individuals who seek to earn LIDMA's prestigious 2018 "Innovation Award" for technological and procedural enhancements that are having positive outcomes within the life insurance direct marketing channel.
Finalists will then be required to submit a brief video on their industry innovation, with a winner to be announced at LIDMA's Fall Meeting & Business Showcase slated for October 14-16, 2018 at the Intercontinental New Orleans Hotel.
"The life insurance industry is now witnessing a whirlwind of new ideas around marketing, lead generation, underwriting, new business processing, lifetime client relationships, and consumer education", said LIDMA President, Jan Pinney, president of Pinney Insurance Group. "To encourage and honor the kind of positive disruption that will make more life insurance coverage available to more Americans, LIDMA has established its "Innovation Award".
The "Innovation Award" program was inspired by LIDMA's eProcess improvement initiatives which have been developed and are continually updated by LIDMA-affiliated insurers, service vendors, attorneys, and marketers. LIDMA's eProcess reduce costs for carriers and providers and improve the buying and fulfilment experience for customers.
As is the case with many award programs, finalists enjoy a positive reputational vibe as a consequence of being nominated. Last year's finalists ExamOne, Hannover Re, Insureio, iPipeline, Legal & General America and Paperless Solutions Group represent true innovative initiatives across a wide spectrum of the consumer experience. The winner, Legal & General's Eric Lester, vice president of operations, had this to say: "We are thrilled to have won the 2017 LIDMA Innovation Award. Our Straight Through technology serves both consumers and advisors with a radically-improved process in which policy delivery can happen within 24 hours. We are honored to be recognized for a program from which direct marketers benefit because there are fewer touch points and faster decisions, always pleasing to the customer."
"Think about our industry just five years ago before voice signature, electronic signature, and eDelivery were mainstream…. what's the next big innovation? The possibilities are endless," stated Pinney.
Successful applicants or nominees will have a measurable effect on expanding the market, collapsing cycle times, digitalization of previously awkward processes, or strengthening the consumer relationship with our industry and its noble purpose.
To determine Innovation Award finalists, LIDMA will conduct a thorough review to ensure each applicant's technological or procedural improvement initiative is active or in an advanced stage of development. Finalists will be required to submit a brief video on their industry innovation. A panel of judges comprised of Founding members of LIDMA and an InsureTech expert will independently submit "blind votes" for the winner. Finalists will be showcased, and the name of the winner unveiled for the first time at the LIDMA Fall Meeting & Business Showcase slated for October 14-16, 2018 at the Intercontinental New Orleans hotel.
Applications for the LIDMA Innovation Award are available now at www.lidma.org and will be accepted through June 30, 2018.
LIDMA is the primary association dedicated to supporting businesses and professionals active in direct sales of life insurance products to consumers – the fastest growing sales segment in the life insurance industry. The LIDMA "Seal of Approval," developed by affiliated carriers, vendors, attorneys, and producers demonstrating compliance with articulated process requirements around e-Delivery, e-Signature and Voice Signature, has become a standard-bearer for a consistent approach to process improvement and positioned LIDMA as the leading life insurance organization in e-Process initiatives The not-for-profit organization is committed to helping members protect more families while boosting their revenues and reducing costs. For more information, visit www.lidma.org.
SOURCE Life Insurance Direct Marketing Association