Case Study: Transamerica Life Insurance Company achieves faster annuity processing with Ebix AnnuityGateway

Transamerica Life Insurance Company - Customer Case Study

Transamerica Life Insurance Company, a member of the AEGON Group, wanted a web-based annuity order-entry solution that could serve independent agents and financial planners not tied to AnnuityNet distributor partners. The company’s goal was to shorten the time from sale to policy output, reduce rework and resubmissions, and improve workflow and efficiency. Ebix provided the AnnuityGateway Solution to help meet this need.

Ebix implemented AnnuityGateway, integrating AnnuityNet order entry and straight-through processing directly with Transamerica’s website. The solution automated annuity processing, reduced NIGO business by accurately completing forms, added custom ACH processing for same-day settlement on cash business, and simplified 1035 exchanges. As a result, Transamerica launched TransExpress for Annuities, giving independent broker/dealers electronic point-and-click processing and reducing the paper-and-mail cycle from 3 to 5 days before contract issuance.

Transamerica Life Insurance Company

Rob Frederick

Chief Operating Officer