Mid-Tier Life Carrier: Optimal STEP Implementation


  • Product: Non-medical underwritten Term life, with five (5) riders
  • Dedicated internal agents, captive call center
  • No tele-service support group
  • Reinsurance supported underwriting rules
  • Underwriting with both auto- and underwriter-assisted decision making
  • New business only


  • Fully integrated STEP Solutions Platform



  • Client target: issuing 18,000 policies per year
  • 77% close rate on policies issued to date
  • Acquisition cycle ranges from 1 to 12 days
  • Average collected signature is 1 day
  • $25K-350K policy size range, $197K average face amount

Optimal process advantages

  • High quality CRM system filters prospects and pre-loads application data into STEP, which results in higher close rate and larger face amounts
  • Knock Out rules filter prospects, if an APS is predicted
  • Initial Risk assessment accurately determines the correct risk class and rate quote – little drop off after a rate quote

Implementation complexity

  • Unified distribution channels
  • Internal Call Center Agents
  • New Business process adapted from STEP
  • Minimal Process hand offs
  • Automated validation & reconciliation
  • Minimal Integration with existing legacy systems

 Lessons learned

  • STEP Platform was leveraged for the optimal new business process
  • System complexity reduced by utilizing functions and features integrated within STEP