Lincoln National Corporation’s LNC newly launched online self-service tool Spectra can now be used by life insurance applicants to get a real-time, specific underwriting quote from their advisor. This new tool gains traction from the company’s advanced automated underwriting guidelines to give estimates on behalf of clients.
Spectra covers more than 200 medical, avocational and occupational risks and doesn’t require to mail or call a Lincoln National underwriter. Introduction of this self-service tool is in line with the company’s constant efforts to upgrade the life insurance business model and provide its customers with a premium digital experience.
With this solution, customers can now be able to take decisions based on facts and information. The cutting-edge technology, data and underwriting practices ensure a quick and seamless way to get a life insurance quote.
Instead of contacting the clients, advisors can use Spectra at any time of the day for immediate quotes on all permanent and a few particular term life insurance products. This unique user interface allows easy data entry and the tracking abilities permit to connect the quote with formal case submissions.
The company is dedicated to invest in data, tools and technologies that enrich customer experience with quick and simple processes. Recently, it unveiled a mobile platform that enables people to review their underwriting medical and laboratory outcomes, the extension of its automated underwriting skill along with the introduction of a unified life insurance application and case tracker for advisors.
Shares of this Zacks Rank #3 (Hold) company have lost 21.8% in a year's time, wider than its industry's decline of 9.1%.
Stocks to Consider
People interested in the same space may consider some better-ranked stocks like The Allstate Corporation ALL, Arch Capital Group Ltd. ACGL and Cincinnati Financial Corporation CINF, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Allstate offers property and casualty, and other insurance products in the United States and Canada. It came up with average four-quarter positive surprise of 19.8%.
Arch Capital and units provide property, casualty and mortgage insurance and reinsurance products worldwide. It pulled off average four-quarter positive surprise of 14.4%.
Cincinnati Financial provides property casualty insurance products. It managed to deliver four-quarter beat of 14.9%.
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