ISM will enable carriers to process new applications quickly and cost-effectively as well as lower Not-In-Good Order (NIGO) rates while allowing agents to complete applications in their preferred method using paper and digital pen or tablets---dramatically improving acceptance rates.

MphasiS offers ISM as a hosted solution and is responsible for all system and agent set up including the preparation of application forms and coding of company specific rules for editing application data. With no startup costs and a fixed charge per agent per month--regardless of the volume of applications written, with ISM, agents can sign into an MphasiS portal to confirm that their handwriting has been interpreted correctly and the data has passed all company edits and then submit the application for immediate processing. The system is also designed to check if all required forms have been included. Once all the necessary forms have been received and checked for completeness and accuracy, additional checks and calculations can be carried out to determine if the policy is eligible for instant issue, or the agent is eligible for an instant commission. Daily, weekly or other contest points can be calculated and the agent's standing can be instantly displayed. This entire process can take place in a few minutes while the agent is still with the client.

"Most insurance companies spend too much time and money transferring information from a paper application onto their systems because many agents still prefer paper-based applications to record client information," said John Streatfeild, Insurance Solutions, MphasiS. "With this in mind, we have developed the ISM Solution--to allow these agents to continue to use paper applications while realizing all the benefits associated with e-applications such as improving agent productivity and sales."

"Capturing data upfront to process applications continues to be time-consuming and cumbersome for insurance agents," said Tom Benton, Principal, Novarica. "In addition, incorrect or incomplete data can delay the process even further and prevent carriers from capturing revenue. E-applications not only reduce human error but also free up agents' time to pursue new clients."

Built-in partnership with ExpeData, a global leader in natural input technologies including handwriting at the point of entry, and Anoto, the manufacturer of the digital pen used by MphasiS, ISM provides many benefits to insurance agents including:

• dramatically reducing the time and cost for submitting new applications and ensure uniform submission of data, regardless of tool/device used.
• providing agents the option to use paper applications or tablets with no impact on overall savings.
• ability to complete applications without requiring internet connectivity. Additionally, if internet connectivity is available, all editing can be done in real-time while the agent is still with the client.