“Exciting Insuretech innovations, combined with pandemic anxieties, are the catalysts driving the historic change we are now seeing in life insurance distribution,” said LIDMA President, Robert Bland. “LIDMA members are at the forefront of making the life insurance purchase process faster and simpler and our 2021 Innovation Award promises to assess the best of the best and declare a winner at our October 17-19 conference in Denver.”
The “Innovation Award” was inspired by LIDMA’s eProcess improvement initiatives which are continually updated by LIDMA-affiliated insurers, service vendors, attorneys, and marketers. LIDMA’s eProcess reduces costs for carriers and providers and improves the buying and fulfilment experience for customers.
Last year’s winner, IXN’s LifeDX platform was chosen from an outstanding group of finalists including ExamOne, Human API, Legal and General America and Lincoln Financial Group.
LIDMA Innovation Award Criteria and Process
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 notified by after application submission with a further requirement that they submit a brief video on their industry innovation no later than September 15. Finalists will be showcased during the LIDMA Fall Meeting & Business Showcase slated for October 17-19, 2021. A presentation of finalists and “People’s Choice” voting will be conducted on the LIDMA mobile app during the conference. The ultimate winner will be announced at the conclusion of the LIDMA Fall Meeting & Business Showcase.
Applications for the LIDMA Innovation Award are available now at www.lidma.org and will be accepted through August 1, 2021.
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