“What would I even do with access to my inforce or back-book data?”
“I have some data feeds, but what next?”
“Those feeds can be complicated. You all make sense of them?”
For post-sale life insurance and annuity data, the “before” picture for our customers is one of disorganized business information scattered across carriers, complex data files without a path to using them, and too often the presence of data to just have data.
The downside is what’s unknown to not just their business but their financial advisors and clients: unexpected risks, coverage and protection that lapses prematurely, time lost hunting information, missed sales opportunities.
Here’s one, concrete example of the “after” scenario we create with our customers: Proformex’s Lapse Rescue Strategy.
We work with our partners to create a plan that engages their Advisors and clients on life insurance policies in a critical risk state. Our data platform (technology, proprietary analytics, and event-based engagement) lets us intentionally reach all stakeholders consistently and proactively.
Paired with clear action steps, we mutually ensure a next best step is taken.
Success comes from crafting a strategy specific to each customer and combining it with process, technology, and human support (so, the best of all worlds).
The results follow: Increased policy persistency. Increased death benefit and client assets protected. Decreased policy lapses. Decreased risk throughout the business.
And, most importantly, more individuals, families, and beneficiaries, protected.
