MGA (Managing General Agent)
A Managing General Agent is a specialized insurance intermediary that has been granted underwriting authority by one or more insurance carriers. MGAs manage networks of independent advisors, handle case submissions, review suitability determinations, and coordinate with carriers on policy issuance, case management, and compliance oversight. In Ebix Meridian, MGAs use the Desk Console and governance modules to manage their entire advisor network from a single platform.
NIGO (Not In Good Order)
NIGO stands for Not In Good Order and refers to insurance applications that are returned by the carrier because of missing information, data errors, or incomplete fields. NIGO submissions delay policy issuance and create rework for both the advisor and the back office. Ebix Meridian reduces NIGO rates through pre-submit validation, automatic pre-fill from CRM data, and carrier-specific field requirements that are enforced before the application is submitted.
1035 Exchange
A 1035 exchange is a provision in the U.S. tax code that allows a tax-free transfer of funds from one life insurance policy or annuity contract to another. The exchange must meet specific IRS requirements to maintain its tax-free status. Ebix Meridian tracks 1035 exchange progress at each carrier step throughout the settlement lifecycle, providing automated alerts when action is required and a complete timeline from initiation to completion.
AcroForm
AcroForm is the interactive form technology embedded in PDF documents that defines fillable fields, checkboxes, dropdowns, and signature areas. Most life insurance carrier applications are distributed as AcroForm PDFs. Ebix Meridian's AI extraction engine reads AcroForm field definitions from carrier PDFs, maps them to the platform's canonical data model, and uses this mapping to automatically pre-fill applications with client data from the CRM.
Canonical Field Mapping
Canonical field mapping is the process of translating data fields from multiple carrier-specific formats into a single standardized data model. Each carrier names their form fields differently — one may use 'date_birth' while another uses 'dob' or 'insured_birth_date'. Ebix Meridian maintains a canonical mapping layer that translates between the platform's standardized client record and each carrier's specific field naming conventions, enabling automatic pre-fill across all supported carriers.
Needs Analysis
Needs analysis is the process of evaluating a client's financial situation, existing coverage, and protection gaps to determine what insurance products and coverage amounts are appropriate. Ebix Meridian's needs analysis module captures household data, runs gap calculations, and generates coverage recommendations with adjustable what-if scenarios that advisors can present to clients as part of the planning conversation.
Suitability
Suitability is the regulatory requirement that insurance products recommended to a client must be appropriate for their financial situation, needs, and objectives. Suitability determinations require documented justification and are subject to supervisory review. Ebix Meridian generates state-aware suitability questionnaires that adapt to the product type, jurisdiction, and firm rules, and produces a complete auditable record of every determination.
Illustration
An insurance illustration is a document that projects the future performance of a life insurance or annuity product based on specific assumptions about interest rates, mortality, and premium payments. Illustrations show guaranteed and non-guaranteed values and are used by advisors to help clients understand how a product will perform over time. Ebix Meridian allows advisors to compare illustrations from multiple carriers in a single view with auto-generated summaries of key differences.
Order Entry
Order entry is the process of completing and submitting an insurance application to a carrier. It involves filling out the carrier's application form with client information, coverage selections, beneficiary designations, and medical history. Ebix Meridian's dynamic order entry engine renders application screens from carrier form metadata and pre-fills fields automatically from CRM data, reducing manual data entry and NIGO rates.
Case Management
Case management in insurance distribution refers to tracking the status and progress of an insurance application from submission through underwriting, approval, funding, and policy delivery. Ebix Meridian provides a desk console for MGA staff with queue-based views, SLA tracking, routing rules, and carrier status notes, along with real-time visibility for advisors through the Client Cockpit.
Free Look Period
The free look period is a window of time after a life insurance policy is delivered during which the policyholder can cancel the policy and receive a full refund of premiums paid. Free look periods are mandated by state insurance regulations and typically last 10 to 30 days depending on the state and product type. Ebix Meridian tracks the free look period as part of the settlement and funding lifecycle.
Settlement
Settlement in life insurance distribution refers to the post-approval process of funding a policy, processing any 1035 exchanges, issuing the policy, confirming delivery, and transitioning the policy to in-force status. Ebix Meridian's settlement module tracks every milestone in this process and provides automated alerts to both the advisor and the back office at each step.
In-Force Policy
An in-force policy is a life insurance or annuity contract that is currently active, has been fully issued by the carrier, and has premiums paid up to date. The transition from application to in-force status is the final step in the insurance distribution lifecycle. Ebix Meridian tracks this entire lifecycle and displays in-force status in both the Client Cockpit and the Client Portal.
Annuity
An annuity is a financial product issued by an insurance carrier that provides a stream of income payments to the owner, typically used for retirement planning. Annuities come in several types including fixed, fixed indexed, variable, and multi-year guaranteed. Ebix Meridian supports annuity comparison, proposal generation, and suitability workflows for all major annuity product types.
FIA (Fixed Indexed Annuity)
A Fixed Indexed Annuity is a type of annuity where the return is linked to the performance of a market index such as the S&P 500, but with a guaranteed minimum return that protects against market losses. FIAs offer a balance between growth potential and downside protection. Ebix Meridian supports FIA comparison alongside MYGA and variable annuity products in its annuity compare and proposal module.
MYGA (Multi-Year Guaranteed Annuity)
A Multi-Year Guaranteed Annuity is a type of fixed annuity that offers a guaranteed interest rate for a specified period, typically ranging from 2 to 10 years. MYGAs are similar to certificates of deposit but are issued by insurance carriers and offer tax-deferred growth. Ebix Meridian includes MYGA products in its annuity comparison engine alongside FIA and variable annuity options.
Suitability Supervision
Suitability supervision is the compliance process where a designated supervisor reviews an advisor's product recommendation and suitability determination before the case is submitted to the carrier. This review ensures that the recommended product is appropriate for the client and that all regulatory requirements have been met. Ebix Meridian routes cases requiring supervisory review to a dedicated queue with full case context and audit trail.
Audit Trail
An audit trail is a chronological record of every action taken on a case, including who performed the action, when it occurred, and what data was changed. Audit trails are essential for regulatory compliance in insurance distribution. Ebix Meridian maintains immutable audit trails for every case with document versioning, e-signature records, and one-click export of complete compliance audit packs.
Pre-Fill
Pre-fill is the automatic population of form fields with data already captured in the system. In insurance distribution, pre-fill reduces manual data entry by mapping client information from the CRM or upstream workflow modules to carrier application fields. Ebix Meridian's pre-fill engine uses canonical field mapping to translate client data across carrier-specific application formats, so advisors only enter information that has not already been captured.
Life Insurance Distribution
Life insurance distribution is the process by which life insurance products move from carriers to end consumers through a network of intermediaries including MGAs, independent agencies, and individual advisors. The distribution workflow encompasses prospecting, needs analysis, product recommendation, quoting, illustration, suitability, application submission, underwriting coordination, and policy delivery. Ebix Meridian is a platform built specifically to digitize and unify this entire workflow.