Large Enterprise Legacy Life Insurance Carrier


Large enterprise “legacy” Life Insurance Carrier with approximately 2000 agents:


  • 125,000 policies issued each yearTerm, Variable, Whole and Universal Life
  • High overhead and new business costs
  • 85 underwriters
  • 150 call center service agents
  • 130 tele-services support
  • Average acquisition cost per policy issued: $1400


  • Complex legacy: 20 systems; four generations
  • Separate Document Management, Work Flow, Quoting, Billing, E-Apps, Underwriting, Issuance systems
  • Multiple IT shared services support staff
  • PMO overhead to manage systems updates


  • Paper and manual based system
  • APS ordered on every case, regardless of size or if third party data suggests it is not necessary


  • Implemented integrated STEP Solutions Platform


Reduction in business operation headcount and policy cost


  • 25 underwriters (71% reduction)
  • 200 call center service agents (33% increase for improved customer service)
  • 60 tele-services support (54% reduction)
  • 125,000 policies issued each year
  • Term, Variable, Whole and Universal Life
  • ~2000 captive agents – few active sales agents
  • Average all-inclusive acquisition cost per policy issued: $625


  • Integrated STEP Platform
  • One system, SaaS operations, fully managed hosting
  • Straight-through processing – 60% decisions in < 1 day


  • E-Apps, web-based submissions
  • Medical risk assessment and initial risk assessment using rules base targets APS and Labs only when required
  • External consumer databases for verification / risk assessment