American General Annuity Endorses Pivot/Info-One's(TM) Annuity Platform.COLUMBUS, Ohio Columbus is the capital and the largest city of the American state of Ohio. Named for explorer Christopher Columbus, the city was founded in 1812 at the confluence of the Scioto and Olentangy rivers, and assumed the functions of state capital in 1816. -- Pivot/Info-One (http://www.pivot.com/), the leading provider of insurance solutions, today announced that American General Annuity annuity: see insurance.
Payment made at a fixed interval. A common example is the payment received by retirees from their pension plan. There are two main classes of annuities: annuities certain and contingent annuities. Insurance Company has selected Pivot/Info-One's insurance distribution technology as the preferred solution for its web-based annuity sales and servicing platform. Pivot/Info-One's robust order-entry system offers a way to increase annuity sales, while also providing efficiencies, offering the industry the first true end-to-end solution to manage the entire annuity sales process A sales process is a systematic approach for performing product or service sales. The reasons for having a sales process include seller and buyer risk management, achieving standardized customer interaction in sales and scalable revenue generation. . The net result is a more efficient process and increased sales.
Other leading carriers have also endorsed Pivot/Info-One as the preferred provider. The platform supports both fixed and variable annuity Variable Annuity
An insurance contract in which, at the end of the accumulation stage, the insurance company guarantees a minimum payment. The remaining income payments can vary depending on the performance of the managed portfolio. sales transactions, as well as term-life and long-term care products. Financial advisors can leverage Pivot/Info-One's technology to research products, review product suitability, conduct customer profiles, and electronically transmit application data and funds directly to the carrier. To support this process, Pivot/Info-One is already connected to over fifty leading carriers for all insurance products, including twelve leading annuity product providers.
"We found that Pivot/Info-One offered the best solution in meeting our annuity order-entry needs," said Bruce Abrams, President and Chief Marketing Officer of American General Annuity. "In 2001 we processed over 30,000 annuity transactions on Pivot/Info-One's platform, with 'in good order' applications reaching 99%. This low error rate, which is well above industry average, reflects Pivot/Info-One's proven ability to automatically check applications for completeness and accuracy. As a result, Pivot/Info-One has helped us improve efficiency, reduce costs, and better serve our financial institution customers."
In addition to its order-entry features, the platform's sophisticated connectivity enables a distributor to completely service his client's needs, including fulfilling client requests such as premium additions, sub-account transfers, and beneficiary beneficiary
Person or entity (e.g., a charity or estate) that receives a benefit from something (e.g., a trust, life-insurance policy, or contract). A primary beneficiary receives proceeds from a trust or insurance policy before any other. changes. The platform also receives carrier information on policy changes handled by the carrier as well as updated account balances.
"Multi-carrier connectivity is a key component in a successful solution for our broker-dealer and bank partners," stated Pivot/Info-One's Co-President Lou Hensley. "Pivot/Info-One's order-entry platform contains up-to-date product information and business rules from the carrier, and allows Pivot/Info-One to transmit policy information, funds, and electronic documents directly to the carrier."
The platform also automates and provides multi-tiered customized compliance and suitability testing.
About American General Annuity
American General Annuity Insurance Company is the nation's leading provider of all annuities sold through banks and a member of American International Group, Inc. (AIG AIG addressee indicator group (US DoD)
AIG American International Group, Inc
AiG Answers in Genesis (religious group in defense of Scripture)
AIG Artificial Intelligence Group
AIG Australian Industry Group ). The company markets its annuity products through more than 400 financial institutions.
Pivot/Info-One is the premier provider of insurance and annuity sales solutions. As the information leader, Pivot/Info-One provides industry standard tools such as The VARDS(R) Report, VTR (VideoTape Recorder) A videotape recording and playback machine. VTR may refer to consumer MiniDV and DV recorders or to professional machines such as Betacam, DVCPRO and DVCAM. (R) Plus, and its web-based sales solution InfoSource(TM) to allow financial advisors a complete "end-to- end" solution to research, illustrate, trade and service annuity and life products on-line. Additional client-focused solutions include website private labeling, consulting services and customer retention programs, and multi-line nationally licensed agency fulfillment ful·fill also ful·fil
tr.v. ful·filled, ful·fill·ing, ful·fills also ful·fils
1. To bring into actuality; effect: fulfilled their promises.
2. with established connectivity to the industry's premier insurance carriers.
Pivot/Info-One was created through the November 2001 merger between Pivot and Info-One and is headquartered in Columbus, Ohio and Campbell, CA. For more information about Pivot/Info-One's products and services, please contact Jennifer Sellevold by e-mail at firstname.lastname@example.org, or phone (408) 558- 7070 ext. 230. To learn more about Pivot/Info-One, visit us online at www.pivot.com or www.info-one.com.
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Contact: Jennifer Sellevold of Pivot/Info-One, +1-408-558-7070 ext. 230, or email@example.com, or John Pluhowski of American General Annuity, +1-713-831-1149, or firstname.lastname@example.org
Website: http://www.pivot.com/ http://www.info-one.com/