Annuity New Business Processing

We value our capacity to service our policyholders and clients. That is why we are committed to being transparent in how we are addressing the new business processing delays within our annuity division.

Over the last three quarters we have experienced record-breaking annuity volume across the industry and American National is experiencing record volumes for 2023.

While we have increased our annuity new business capacity by about 100% over the past year, this continued increase to these record volumes is starting to put strain on our annuity new business administrative capacities and causing higher than normal phone hold times in our call centers. 

We are working to reduce these delays in a number of ways

• We have increased annuity new business staff, approved additional overtime and are continuing to hire and train additional staff.
• Furthermore, we have setup an additional call center team to speed up 1035 transfers from other carriers to allow our new business staff to focus on their new business processing.
• We have also further streamlined requirements handling to reduce the time it takes to issue each application.   

Expedite processing times with electronic applications! 

Electronic applications help requirements to come in good order more often and lowers time to issue. Applications are processed more quickly as there are fewer requirements and incomplete submissions.

If electronic applications are not an option, then ensuring that all paper applications receive a second review before submission can help speed process time. Currently a majority of paper applications that are being delayed are done so simply because they are not filled out completely or have required fields that are left blank.