Proformex was recently named a Top 10 Policy Administration Solution provider by Insurance CIO Outlook, recognizing 10 companies at the forefront of providing administration solutions for the insurance sector and impacting the market place.
Until now, monitoring life insurance policy performance has been both time consuming and costly. This, combined with an upfront commission structure along with the ever-changing insurance landscape, has led to a wait-and-see approach to policy management.
Proformex was designed in response to this disconnect and designed specifically to provide trustees, advisors, insurance carriers, BGAs, as well as banks and broker dealers with a turnkey solution to solve the problem of ongoing policy monitoring and fiduciary management support.
Our mission? It’s simple – to change the way life insurance is sold and monitored, one policy at a time.
OF ALL POLICIES HAVE NOT BEEN REVIEWED IN THE PAST 5 YEARS
OF THOSE POLICIES ARE LIKELY TO LAPSE IN THE NEXT THREE TO SEVEN YEARS
OF ALL IN FORCE NON-GUARANTEED TOLI POLICIES WILL LAPSE DURING THE INSURED'S LIFETIME
Our patent pending technology provides a turnkey solution for ongoing policy monitoring and management support. Governance controls can be set by individual insurance contract to be proactively managed according to defined objectives to ensure long-term monitoring and management commitments are upheld.
Five policy benchmark values which have the greatest impact on policy performance are monitored.
Important policy dates, such as premium payments, term conversions, and policy lapse ages are consolidated and displayed across the entire portfolio.
Each policy receives an annual policy report, providing an annual snapshot of the policy’s performance against it’s benchmarks.
Policies can be managed to receive critical notifications on a policy by policy basis as well as across a variety of policy portfolios.
Includes system generated reminders such as gift reminders, Crummey Letters, premium reminders, and much, much more.
Comdex ratings are updated quarterly to identify carriers within the portfolio that have had a ratings change throughout the year.
Annual statements and other important policy documentation collected are archived and available anytime, anywhere at the click of a button.
Policy owners have complete control over the access they provide to all related parties associated with their life insurance policy.
Policy owners can set reminders, alerts, and grant viewing rights for individuals, trustees, and advisors associated with their policy.
Proformex software was created to establish a new professional standard for all parties related to the life insurance sale. We help those looking for a dramatically better way to monitor, manage, and track their policies to ensure contracts perform as intended.
The cornerstone of our mission is to better inform policyholders, fiduciaries, advisors, and others to help ensure each and every policy performs as intended. Information is power, so equip yourself today with the knowledge to insure your policy performs as intended by visiting our News and Insights page or our Resource Library today.