An Augmented Intelligence Experience Drives Value in a Virtual Environment

An Augmented Intelligence Experience Drives Value in a Virtual Environment Greg Driscoll SVP, Service Operations & Chief Information Officer

The Penn Mutual Digital Life Insurance Platform Accelerated Client Experience - ACE • Penn Mutual Life Insurance was founded in 1847 and is focused in the individual life, annuity and broker-dealer domain • Introduced the digital, data-driven platform in 2017 — E-Application — E-Signature — Auto Underwriting — E-Payment — E-Service • Platform supports a contact-free sales process centered on guidance from licensed Financial Professionals operating in a augmented intelligence, digital experience @©2020 Mutual.AllAll rights reserved.

2018 Penn Penn Mutual. rights reserved.

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ACE – A Digital Experience that Drives Top and Bottom Line Growth 70% of Penn Mutual active Financial Professional’s are currently using ACE E-app submission up to 80% in 2020 YTD — pre-COVID-19 was steady 60% submission rate 60% of applicants qualify for fluid-free underwriting with 30+% receiving an immediate rating of standard or better/no human review Since April 2020, 95% of our term applications are coming through ACE E-Applications issue 50% faster than paper applications 100% E-Delivery for all contracts post pandemic E-Applications issue 50% faster than paper applications @©2020 Mutual.AllAll rights reserved.

2018 Penn Penn Mutual. rights reserved.

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Penn Mutual Data-Driven Algorithmic Underwriting

Š 2020 Penn Mutual. All rights reserved.

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