PROVIDENCE, RI--(Marketwired - April 08, 2014) - Brokers' Service Marketing Group (BSMG), a nationally recognized insurance brokerage firm, was recently recognized as a recipient of the 2014 Bank Insurance & Securities Association (BISA) Technology Innovation Award for its tioTERM online life insurance platform.
tioTERM is an industry-leading online life insurance platform developed by Brokers' Service Marketing Group. Created specifically to address the needs of financial institutions and their licensed representatives, tioTERM's unique multicarrier environment provides all the tools needed to quote, pre-qualify and submit orders for term life insurance in 10 minutes or less per case, while eliminating the paperwork and hassle typically associated with writing life insurance. Built on a 40-year history and leveraging their industry knowledge, BSMG delivers innovative technology, process and outsourcing solutions to the insurance and financial services industries.
The BISA Technology Innovation Award recognizes leadership in the advancement of the financial services industry's products, services and platforms through technology innovation. This award highlights companies for their commitment to advancements in technology-based solutions for the industry.
"It is an honor to receive this innovation award for our tioTERM platform," commented Andrew Hamill, Executive Vice President, BSMG. "Given the right tool, advisors will sell more life insurance, and we believe tioTERM is that tool. Life insurance is a critically important part of any sound financial plan, and the unfortunate reality is that most clients are underinsured. By making the entire process easier, tioTERM helps close that coverage gap. That's good for clients, good for advisors, and good for the institution. The more financial products a client owns, the greater their retention and loyalty to the bank."
tioTERM allows financial professionals to sell term life insurance in a way that is fast, easy and profitable, all while retaining full control of their most valuable asset: the client relationship. tioTERM is more than just technology, but rather is a complete, end-to-end process with an intuitive front-end user interface for quoting, pre-underwriting and processing term life insurance from a selection of competitively priced leading carriers. Enhancements made to the system in 2013 enable the platform to be fully-integrated with the technology, back-office and operational procedures of any financial institution.
"The reality is that many licensed agents shy away from or even avoid life insurance sales due to the complexities, difficulties and extreme time commitment associated with the traditional process," commented Hamill. "By shifting the archaic application process for term insurance to the tioTERM platform, agents can focus on what they do best -- selling and servicing their client."
Details about the BISA Technology Innovation Award can be found at www.BISANet.org.
About Brokers' Service Marketing Group:
Founded in 1972, Brokers' Service Marketing Group is a nationally recognized insurance brokerage firm with offices in Providence, Rhode Island and Wellesley, Massachusetts. BSMG provides robust solutions for the sale, support and processing of life insurance, annuities and long term care insurance to financial service individuals and financial institutions. As a trusted resource and partner to thousands of financial advisors, as well as many banks, broker dealers and producer groups, BSMG assists its clients with a broad array of products and services from the nation's leading carriers. For more information, visit: www.bsmg.net
The Bank Insurance & Securities Association is the leading financial services industry association dedicated to serving those responsible for the marketing, sales, and distribution of securities, insurance, and other financial products and advisory services through the bank channel. Member companies include depository institutions of all sizes, their broker-dealer and mutual fund subsidiaries, third-party marketing companies, product manufacturers and firms providing products, technology or services to support these enterprises. For more information on BISA, visit: www.bisanet.org