iPipeline has purchased Rolling Solutions’ XRAE automated underwriting solution, to instantly determine correct underwriting classes and accelerate the selling of insurance for users.
During quoting, XRAE runs potentially insured's health class information against the underwriting rules of participating carriers, thus enabling distributors and independent/captive producers to determine underwriting classes.
iPipeline CEO Tim Wallace said the XRAE and quote engine subscribed user will be provided with an exclusive product results list when multi-carrier quotes are run.
"We currently have 16 major carriers leveraging the solution, and I expect many more to follow as the value translates into increased placement ratio."
XRAE has been designed to increase the quick-quotes number a carrier evaluates while reducing the resources allocated per quote as well as automates the evaluation of quick-quotes eliminating underwriting resources allocation need.
In addition to reducing the overall costs associated with dead-end applications resulting from inaccurate health classes, the XRAE will be used carriers to publish additional underwriting rules while keeping the rules confidential.
Rolling Solutions CEO Tom Bellig said, "Pipeline's acquisition of XRAE adds a high-value and rapidly deployed product to their lineup."