Digital Annuity Servicing is emerging with the introduction of an entirely digital in-force servicing solution from Zinnia. It modernizes the transaction management process for post-issue annuities.
The company, the top-rated life and annuity software provider, launched this feature via its Zinnia Live portal. This allows all parties involved, including carriers, distributors, advisors, and consumers, to do servicing through one single platform. Additionally, Digital Annuity Servicing makes paper-based form filling obsolete.
“Annuity servicing has been one of the last major analog frontiers in the life and annuity industry,” said George Esposito, CEO of Zinnia. “We have changed that. In-force servicing is where the promise made at the point of sale gets tested, and too often, that experience falls short. Zinnia has built a fully digital way to manage in-force annuity contracts end to end, removing the forms and friction that have slowed the industry down for decades.”
Before, annuity servicing relied on disparate processes and disjointed systems. But with this new development, that is now no longer needed, as users will enjoy an integrated digital solution. Users can create, monitor, and manage their transactions through a streamlined process. Consequently, efficiency and visibility have been enhanced for all parties. Moreover, this digital platform can handle withdrawal processes and other similar high volume service requirements. Transactions are completed and prepared for processing effectively and accurately.
“Digitizing servicing is not just about putting a form online,” said Michael Celi, Chief Product Officer at Zinnia. “It’s about bringing data, workflows, and systems into one connected experience. That is what Zinnia has built, so annuity servicing operates with speed, visibility, and confidence that advisors and consumers already expect.”
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News Source: Businesswire.com
