Our patent pending technology provides a turn-key solution for ongoing policy monitoring and fiduciary management support.
Governance controls can be individually set according to the unique goals and objectives of each policy or across the entire portfolio. This allows all policies to be properly managed within desired parameters
Proformex tracks five key policy performance guidelines with substantial impact on policy performance and analyzes each policy against these benchmarks. Standard default values are set for each guideline using an easy to understand color code system to call out if the policy is in the desired, acceptable or undesired range for each. Guideline values can be adjusted per policy at any time. We call this your unfair advantage to ensure policy success.
Proformex Desired Standard for Lapse Age
100 or Higher
94 or Lower
The current death benefit, premium and policy credit rate are set as the ‘Acceptable’ values for initial tracking purposes
Desired Standard for Comdex rating is 85 or Higher
69 or Lower
Proformex has eased the management of blocks of policies with our consolidated portfolio alerts. Important policy information is available on the homepage for easy access. Additional dashboards allow users to quickly view other policy management information, such as policies by ownership type or premium gifts for upcoming months.
The Proformex software system permits the warehousing of contracts from any carrier while giving you the ability to track specific policy information across individual, corporate and trust owned life insurance policies. Our reporting capabilities are dividing into three distinct levels, which combined gives you the most comprehensive view of each policy in your portfolio.
Proformex’s policy management software, and third-party reporting will never replace the knowledge and insight of seasoned insurance consultants. That is why we include the services of the Protocol Governance Advisors for every level 3 report.
Benefits of having a Protocol Governance Advisor:
Many policies may not be performing as they were designed to perform when they were sold. Proformex allows policy owners to set guidelines for their policies and the system alerts owners when the policy falls below those guidelines. This happens automatically, every year.
Copies of insurance policies, Annual Statements, policy illustrations, trust documents and all other policy related materials can be archived in folders within Proformex. These documents are safely stored and always accessible.
Comdex ratings are updated quarterly to identify any carrier within the portfolio that have rating changes throughout the year.
Proformex can send system generated reminders such as Gift reminders, Crummey Letters, premium reminders or custom reminders can be created on an individual policy basis.