WealthServ Partners with Efficient Technology Inc. to provide Electronic Forms

(Sept. 12, 2013) – WealthServ has announced its partnership with Efficient Technology Inc., an industry leader in electronic forms and electronic signatures. The partnership will see Efficient Technology Inc. Quik! forms solution seamlessly integrated into the WealthServ platform, giving users the ability to quickly and effectively process electronic forms within the current system.

Life insurance is currently still largely paper based. Typically, advisors complete paper applications, which are passed to MGA’s or home offices. These are then keyed into the MGA systems and passed on to the insurance carrier. The carrier then keys the information into their systems. Forms that are found to be not in-good-order are then held while the correct information is collected. This approach leads to human error, not-in-good order (NIGO) documents, long turnaround times, increased cost and, ultimately, a poor customer experience.

Using electronic forms can transform this process. The advisor can complete an electronic form which is already populated with client’s information. Electronic forms can check that they are in-good-order, prompting the advisor to correct the form while they are still with the customer. The form, or just the ACORD standard data, can then be transmitted electronically to the home office and the insurance carrier. This vastly reduces human error, application delays, costs and the frustration customers feel when their coverage is delayed.

“Prefilled electronic forms are one of the most popular requests we get from advisors and MGAs,” said Simon Tomlinson, CEO of WealthServ. “With this partnership we will be able to bring the latest electronic forms technology to life insurance distributors, mutual fund dealers and advisors. We understand electronic forms are not a new idea, but we believe we can crack the adoption issue that is preventing the technology from delivering on its potential.”

The improved WealthServ platform will seamlessly integrate the electronic form and signature technology into the advisor platform (RepVision) and the MGA home office. Forms will automatically populate with customer or prospect information. The information from the forms will be available in CLIEDIS/ACORD standard format. The integrated platform is scheduled to begin production in December this year.

“I am very excited for this partnership,” said Richard Walkerm Co-Founder of Efficient Technology Inc. “We pride ourselves on empowering people to do their best work. Integration of a strong wealth management solution like WealthServ and our forms application will have a resounding effect, improving business processes and ultimately the bottom line.”

About WealthServ

WealthServ, a BlueSun product, is a leading business solution for insurance and investment agencies in North America. WealthServ provides integrated back office and CRM technology across life insurance and investment products for MGAs and MFDs. WealthServ is a Unified Wealth Management platform that delivers everything required for serious wealth management distributors to process all lines of business with one system. Visit www.wealthserv.com/ca/ for more information.

About Efficient Technology, Inc

Efficient Technology, Inc. provides enterprise forms-based workflow automation solutions that accommodate dynamically changing business rules, forms and workflow. ETI is the Developer of Quik!, the industry-leading forms management and forms-enablement solution. By improving business processes, increasing efficiency and saving time efficient Technology Inc. is proud to be a carbon-negative company saving thousands of trees each year.

SOURCE: BlueSun Inc.