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Lincoln National (LNC) Upgrades Digital Functions for Clients
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Lincoln National Corporation (LNC - Free Report) announces the latest digital enhancements to further improve speed and convenience.
The capabilities, to be available from Mar 28, 2022, include Lincoln TermAccelt, Automated Underwriting, Lab-Free Expansion and more. LNC is optimizing the face value of TermAccel policies to $2.5 million for the millennials and late Gen-X, who are seeking pocket-friendly insurance coverages.
As far as Automated Underwriting and Lab-Free Expansion is concerned, LNC is optimizing the face amount eligibility for automated underwriting and lab-free underwriting to $2.5 million for Term, Universal Life (UL), Indexed UL (IUL) and Variable UL (VUL) cases. These cases must be submitted through LincXpress and Lincoln TermAccel ticket submission process.
Automated underwriting gains from technological advancements to process and verify application data and take underwriting decisions. LNC aims at offering seamless, less invasive underwriting experiences to clients. The life insurer is also introducing an updated application package for Term, UL, IUL and VUL policies plus submission methods. This consists of electronic applications, tickets and traditional applications, et al.
LNC left no stone unturned when it comes to advancing user experience. The market for digital availability is evolving by the day and LNC is making concentrated efforts to meet customer needs.
This is also evident from the fact that LNC was selected for the 2022 Model Insurer Award by Celent, a research and consulting firm. Celent recognizes organisations that work on transforming the life insurance experience for customers in a technological manner.
In January 2022, LNC announced the launch of a retirement plan participant website to aid participants with their retirement income planning. The mobile-adaptive layout offers a seamless digital experience, allowing transparency to individuals keen on planning their retirement income goals.
This apart, LNC is well poised to grow on the back of a strong life business, resurging Group Protection unit and accretive acquisitions. A lower unemployment rate is likely to drive LNC’s group insurance product sales and premiums. One of the key differentiators at Lincoln National is its strong distribution franchise. Demand for LNC’s life insurance products continues to increase.
Other peers in the insurance space investing in technology include American Equity Investment Life Insurance Company (AEL - Free Report) .
Last year, American Equity, through general account annuities for individual clients in the United States and Monroe Capital LLC, invested an amount of $1 billion in Monroe Capital’s Software, Technology and Recurring Revenue (STARR) loans, which are originated and underwritten by Monroe. The investment was made by AEL with a focus on software and technology-enabled companies, which is expected to offer mission-critical, high return-on-investment software or technology solutions for its customers.
Some other stocks in the insurance space are Cincinnati Financial Corporation (CINF - Free Report) and Berkshire Hathaway Inc. (BRK.B - Free Report) .
Cincinnati Financial’s consistent cash flow and sufficient cash balance continue to boost liquidity. Based in Fairfield, OH, CINF’s earnings beat estimates in each of the last four quarters, the average being 38.5%.
Berkshire Hathaway is expected to benefit from disciplined capital management and acquisitions. Headquartered in Omaha, NE, BRK.B’s earnings beat estimates thrice in the last four quarters and missed the mark once, the average surprise being 11.9%.
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Lincoln National (LNC) Upgrades Digital Functions for Clients
Lincoln National Corporation (LNC - Free Report) announces the latest digital enhancements to further improve speed and convenience.
The capabilities, to be available from Mar 28, 2022, include Lincoln TermAccelt, Automated Underwriting, Lab-Free Expansion and more. LNC is optimizing the face value of TermAccel policies to $2.5 million for the millennials and late Gen-X, who are seeking pocket-friendly insurance coverages.
As far as Automated Underwriting and Lab-Free Expansion is concerned, LNC is optimizing the face amount eligibility for automated underwriting and lab-free underwriting to $2.5 million for Term, Universal Life (UL), Indexed UL (IUL) and Variable UL (VUL) cases. These cases must be submitted through LincXpress and Lincoln TermAccel ticket submission process.
Automated underwriting gains from technological advancements to process and verify application data and take underwriting decisions. LNC aims at offering seamless, less invasive underwriting experiences to clients. The life insurer is also introducing an updated application package for Term, UL, IUL and VUL policies plus submission methods. This consists of electronic applications, tickets and traditional applications, et al.
LNC left no stone unturned when it comes to advancing user experience. The market for digital availability is evolving by the day and LNC is making concentrated efforts to meet customer needs.
This is also evident from the fact that LNC was selected for the 2022 Model Insurer Award by Celent, a research and consulting firm. Celent recognizes organisations that work on transforming the life insurance experience for customers in a technological manner.
In January 2022, LNC announced the launch of a retirement plan participant website to aid participants with their retirement income planning. The mobile-adaptive layout offers a seamless digital experience, allowing transparency to individuals keen on planning their retirement income goals.
This apart, LNC is well poised to grow on the back of a strong life business, resurging Group Protection unit and accretive acquisitions. A lower unemployment rate is likely to drive LNC’s group insurance product sales and premiums. One of the key differentiators at Lincoln National is its strong distribution franchise. Demand for LNC’s life insurance products continues to increase.
Other peers in the insurance space investing in technology include American Equity Investment Life Insurance Company (AEL - Free Report) .
Last year, American Equity, through general account annuities for individual clients in the United States and Monroe Capital LLC, invested an amount of $1 billion in Monroe Capital’s Software, Technology and Recurring Revenue (STARR) loans, which are originated and underwritten by Monroe. The investment was made by AEL with a focus on software and technology-enabled companies, which is expected to offer mission-critical, high return-on-investment software or technology solutions for its customers.
Some other stocks in the insurance space are Cincinnati Financial Corporation (CINF - Free Report) and Berkshire Hathaway Inc. (BRK.B - Free Report) .
Cincinnati Financial’s consistent cash flow and sufficient cash balance continue to boost liquidity. Based in Fairfield, OH, CINF’s earnings beat estimates in each of the last four quarters, the average being 38.5%.
Berkshire Hathaway is expected to benefit from disciplined capital management and acquisitions. Headquartered in Omaha, NE, BRK.B’s earnings beat estimates thrice in the last four quarters and missed the mark once, the average surprise being 11.9%.