Radnor insurer Lincoln National Corp. is seeking to infuse a little youthful life back into its life-insurance offering by shredding its old-school paper application process and rolling out a tech-savvy automated online life insurance application and underwriting process.

The hope is that it will connect with people under 40.

“We did a ton of research on how Millenials and GenX people want to do business,” Lincoln National Senior Vice President for Underwriting and New Business Heather Milligan said in a Philadelphia Inquirer report by Joseph DiStefano. “They are very mobile, very adept at technology. So we built them this pipeline, which is completely digital, end to end. It’s aimed at reducing the turnaround time to a couple of days or a couple of weeks, in a digitally-enabled, comfortable buying process.”

The new system is Lincoln National’s TermAccel Level Term Insurance, built with help from iPipeline, and it’s faster and less expensive than the old way of doing things. And if TermAccel takes off like the company projects it will, a little youthful energy will infuse an embattled Lincoln National stock price, too.

“(Lincoln) does not seem overly interested in a large acquisition or even a bolt-on, because it believes it is generating returns in its new business in excess of what could be had through an acquisition,” the article explained.

Click here to read more of Lincoln National’s high-tech market strategy aimed at younger customers in the Philadelphia Inquirer.