RADNOR, Pa.--(BUSINESS WIRE)--Lincoln Financial Group (NYSE: LNC) announced today that it has been selected by Celent as a winner of its Digital Model Insurer Award for 2017. Celent is a research and consulting firm focused on the application of information technology in the global financial services industry. The Model Insurer Award recognized Lincoln Financial for digitally transforming the life insurance buying experience to meet the evolving consumer expectations of younger clients. The recognition from Celent follows the Connections 2017 Industry Leadership Award Lincoln Financial received from iPipeline® in March.
The digital solution recognized by Celent is Lincoln TermAccel® Level Term insurance. Lincoln TermAccel® is a next generation solution that provides affordable coverage for a wide range of clients ranging from millennials to late Gen Xers, complete with a digital buying experience. Lincoln TermAccel® has reduced the time it takes the company to issue a fully underwritten policy by 50 percent, and in some cases down to as little as 24 hours. It is one of the industry’s first fully electronic processes allowing clients to purchase life insurance with automated underwriting, and the potential for qualifying clients to bypass underwriting labs.
Donald Light, Celent Research Director, said, “In choosing Model Insurer Award winners, we look for uses of technology that deliver true business value to an insurer, its distribution partners, and its policyholders. As a fully digital combination of product and process, Lincoln TermAccel meets those standards.”
“Technology is evolving so rapidly, and our customers’ expectations are evolving right along with it,” added Kenneth S. Solon, executive vice president and chief information officer for Lincoln Financial. “Lincoln TermAccel demonstrates our commitment to investing in technology to provide a quick and convenient solution for our customers when choosing a life insurance product. We’re extremely proud to be the recipient of Celent’s Model Insurer Award.”
For additional information about Lincoln TermAccel® Level Term insurance, visit the Lincoln Financial Group website.
About Lincoln Financial Group
Lincoln Financial Group provides advice and solutions that help empower people to take charge of their financial lives with confidence and optimism. Today, more than 17 million customers trust our retirement, insurance and wealth protection expertise to help address their lifestyle, savings and income goals, as well as to guard against long-term care expenses. Headquartered in Radnor, Pennsylvania, Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. The company had $229 billion in assets under management as of December 31, 2016. Learn more at: www.LincolnFinancial.com. Find us on Facebook, Twitter, LinkedIn and YouTube. To sign up for email alerts, please visit our Newsroom at http://newsroom.lfg.com.
