SBLI (The Savings Bank Mutual Life Insurance Company of Massachusetts) has launched new application and submission processes, OmniTrak and EasyTrak, for its term life insurance products, aiming to meet growing consumer demand for more immediate and convenient purchasing experiences.
SBLI introduced EasyTrak Term to financial professionals earlier this year. This process facilitates modern, seamless purchasing, enabling underwriting decisions in under 45 seconds and allowing coverage customization immediately after underwriting. The average quote-to-issue time for EasyTrak is nine minutes.
OmniTrak, launched recently, utilizes an innovative field underwriting platform designed to help advisors provide more accurate quotes to clients. This system offers three distinct underwriting pathways—instant decision, accelerated underwriting, and traditional underwriting—automatically guiding applicants to the most efficient experience available. Agents using OmniTrak have reported improved placement rates due to its proprietary pre-underwriting feature and a higher instant approval rate. Additionally, OmniTrak provides policyholders with conversion privileges, allowing them to convert their term policy to a whole life or universal life policy until age 70.
Both EasyTrak and OmniTrak are supported by the Techficient platform, which manages the entire process from initial quote to policy issuance. The platform leverages predictive data and advanced data-underwriting techniques to increase the percentage of applications that successfully convert into policies. Together, these solutions aim to provide a modern, digital experience for life insurance professionals, enabling them to expand their customer base and enhance operational effectiveness.
Wade Seward, SBLI senior vice president and chief distribution officer, stated that SBLI is committed to not only developing innovative products but also to simplifying the life insurance sales and purchase process for all parties involved. He emphasized the company’s dedication to offering new solutions that improve efficiency for agencies and financial professionals, ensuring more consumers can achieve financial peace of mind.
SBLI, or The Savings Bank Mutual Life Insurance Company of Massachusetts, has been providing life insurance solutions to families across the United States for over 115 years. The company focuses on clarity, personal support, and long-term trust, offering term and whole life products. SBLI is licensed in 49 states and the District of Columbia, excluding New York.
