Celent Model Insurer Award Winner Lincoln Financial Group Expands Digital Processes and Policies

Lincoln strengthens award-winning digital capabilities that accelerate speed and convenience

RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) was selected today for a 2022 Model Insurer Award by Celent, a research and consulting firm focused on the application of information technology in the global financial services industry. The Celent recognition coincides with upcoming digital enhancements announced this week by Lincoln Financial, including expanded availability of Lincoln TermAccel®, a Term life insurance policy offering a fully electronic purchase experience, as well as enhancement to several digital underwriting and new business processes.

“The protections and opportunities that life insurance provides to individuals and families are as important as ever, and Lincoln is committed to making it easy and convenient for customers to purchase and manage their policies. We are proud that today’s Celent Award recognizes our commitment to our customers,” said Heather Milligan, senior vice president of Life Underwriting and New Business for Lincoln Financial. “As an award-winning leader in delivering digital capabilities, we continue to invest in high-tech buying and service experiences to meet the rapidly evolving needs and expectations of our clients and financial professionals.”

Digital Expansion and Enhancements

The following enhancements will be available March 28, 2022:

  • Lincoln TermAccel– For clients ranging from millennials to late Generation Xers looking for affordable Term insurance coverage, Lincoln is increasing the maximum face amount of TermAccel policies to $2.5 million. TermAccel offers an electronic application, underwriting and delivery process, and the opportunity to waive underwriting lab tests.
  • Automated Underwriting and Lab-Free Expansion – Lincoln is increasing the maximum face amount eligibility for automated underwriting and lab-free underwriting to $2.5 million for Term, Universal Life (UL), Indexed UL (IUL) and Variable UL (VUL) cases submitted via the LincXpress® and Lincoln TermAccel ticket submission process. Automated underwriting leverages technology to process and verify application information and make underwriting decisions. Lab-free underwriting provides qualifying clients the opportunity to have underwriting labs waived. The two processes provide a more convenient, less invasive and faster underwriting experience without compromising risk assessment.
  • Application Enhancements – Lincoln is launching an updated application package for all Term, UL, IUL and VUL policies and submission methods, including electronic applications, tickets and traditional applications. This updated application package is designed to enhance the user experience when completing and applying for a policy and reduce overall turnaround times by making case processing and underwriting more efficient.

“Customer expectations for digital availability and delivery are rapidly evolving and Lincoln is focused on anticipating and meeting customer needs, while providing a personalized customer experience,” said Rob Klaczak, senior vice president and divisional chief information officer of IT Annuities, Life and Distribution, Lincoln Financial Group. “The expansion of our digital tools and life insurance offerings, paired with Celent’s Model Insurer recognition, emphasize our continued commitment to offering comprehensive digital capabilities as we transform the customer journey with modernized e-initiatives.”

The Celent Model Insurer Award recognizes companies that technologically transform the end-to-end life insurance experience for consumers and financial professionals. Key Lincoln capabilities highlighted with the award, included online application interviews, the ability to resolve outstanding application requirements electronically, digital policy delivery and electronic billing and payment options.

For additional information on the Lincoln Celent Model Insurer Award, click here.

About Lincoln Financial Group

Lincoln Financial Group provides advice and solutions that help people 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, and 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 $324 billion in end-of-period account values as of December 31, 2021. Lincoln Financial Group is a committed corporate citizen included on major sustainability indices including the Dow Jones Sustainability Index North America and FTSE4Good and ranks among Newsweek’s Most Responsible Companies. Dedicated to diversity, equity and inclusion, we are included on transparency benchmarking tools such as the Corporate Equality Index, the Disability Equality Index and the Bloomberg Gender-Equality Index. Committed to providing our employees with flexible work arrangements, we were named to FlexJobs’ list of the Top 100 Companies to Watch for Remote Jobs in 2022. Learn more at: www.LincolnFinancial.com. Follow us on Facebook, Twitter, LinkedIn, and Instagram. Sign up for email alerts at http://newsroom.lfg.com.

LCN: 4543224-031522


Jay Russo

Lincoln Financial Group


E-mail: jay.russo@lfg.com


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