NorthStar Life Services CEO John McFarland Shares Insights on Advanced Technology Systems at Life Insurance Settlement Association Conference

Industry expert lays out vision for automation of life settlement
business processes during panel session at 24
th
Annual Fall Life Settlement & Compliance Conference

IRVINE, Calif.–(BUSINESS WIRE)–John McFarland, chief executive officer of NorthStar
Life Services
, LLC, a full-service life settlement advisory firm
that assists institutional and private investors with each stage of the
life settlement investment cycle, shared his insights into the
applications of advanced technology systems to the life settlement
industry during a recent conference hosted by the Life Insurance
Settlement Association (LISA).

“We have entered into a new era in business operations, a world in which
we can deploy powerful technology systems to model, automate and execute
decisions that are determined by business rules,” said McFarland,
who has worked in the life settlement industry for more than a decade.
“Company executives and life settlement servicing experts create the
rules and those decisions can then be executed by automated engines.
This minimizes the risk for errors and allows for rapid changes in
production workflows.”

LISA’s 24th Annual Fall Life Settlement & Compliance
Conference, which was held October 21st-23rd in
Orlando, Fla., is the longest-running professional conference in the
life settlement industry. McFarland was joined on a featured panel at
the conference by Brian Casey, partner at Locke Lord LLP, and Matthew
Sheridan, investment management consultant to QuantRes. The trio of
industry experts unpacked the emerging technologies of Blockchain,
Artificial Intelligence (AI) and Robotic Process Automation (RPA), each
of which offers the potential for tremendous efficiency gains in life
settlement transactions.

“AI and RPA are not ‘blue sky’ concepts, they are very real and powerful
business automation technologies that we are integrating into our
operation,” said McFarland. “For example, we recently mapped out a
15-step process associated with a specific policy task that we routinely
perform for our clients. We then created business rules that were
modeled by software systems and our team was eventually able to automate
12 of those 15 steps, significantly increasing the accuracy and
efficiency with which we can manage policies.”

McFarland noted that NorthStar utilizes a proprietary technology
platform and a core team of professional advisors to provide transaction
advisory services, due diligence, portfolio and premium management, and
medical underwriting services to life settlement investors.

“The application of advanced technologies, such as AI and RPA, enable us
to work more efficiently and to take costs out of the process,” said
McFarland. “Moreover, the automation of routine business processes has
allowed us to free up our professional staff to perform higher-value
work for our clients by using their experience and invaluable human
judgment.”

NorthStar Life Services, LLC offers a full range of premier services to
institutional and private investors in life insurance policies,
providing assistance at each stage of the life settlement investment
cycle. The firm manages every transaction and portfolio with a
personalized solution that considers the investor’s goals, budgetary
requirements and risk tolerance in order to construct a strategy
designed to maximize investment returns. NorthStar is a member
of the Life Insurance Settlement Association (LISA)
and the
company’s CEO, John McFarland, is a member of LISA’s board of directors.
For more information, please visit www.northstarlife.com.

Contacts

NorthStar Life Services
John McFarland
Jmcfarland@northstarlife.com

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