Working with financial professionals across life insurance and annuities, we understand the need to deliver reliable information that’s ready for their business to act on now. Our key releases this month focus on this theme: Arming you and your teams with business ready information in ways that make it easier for you to engage with your clients, provide consistent, professional reporting, and deliver insights to you faster so your teams aren’t looking for information but acting now to strike while the iron is hot.
Meet SmartGroups – The fastest path to the your next action
Visibility into your book of business is only half the battle. The question you need to be able to answer goes beyond “what do we have” to “what do we do next”. SmartGroups closes that gap. With SmartGroups, you can organize your book into categories that make sense for your business, whether by policy, product, carrier, or more targeted views like policies trending at risk, policies nearing lapse, or other sales strategies. Without the hassle of exporting data out of the platform and building a bunch of pivot tables, you get the views you need of your business all in one place in minutes.
Here’s how customers are thoughtfully using SmartGroups already:
- Organize around your business structure Every firm organizes differently. SmartGroups lets you slice your book the way your team actually thinks about it, whether that’s by branch, region, team, or any other hierarchy that fits your world. You can also group by business partners (like BGAs and IMOs) to track trends, performance, and activity across those relationships.
- Surface the conversations you need to have now The payoff is speed to action. Once your SmartGroups are set up, it becomes immediately clear which clients are ripe for outreach right now. Your team can prioritize the right conversations and next steps without spending hours digging for insights and answers.
- Keep your most important views right in front of you Save your SmartGroups and pin them as widgets on your homescreen for instant access to the segments of your business you’re watching most closely. The intelligence is there when you need it without any manual search effort.
Meet Document Generation – Your key to doing less paperwork and more strategic work
For the financial professionals we work with, paperwork such as carrier forms, creating reports for client policies or contracts, and other reporting is more than a minor inconvenience. It often occupies hours of focus and pulls them away from the meaningful work of servicing their clients. With Document Generation, Proformex users can now create customized, professional-quality client and business reports at scale, automatically populating them with information directly from our platform. Instead of spending time creating or formatting tedious documents, users can refocus time and energy on strategy and client relationships. Since launching Document Generation, we’ve seen an 85% increase in document activity from our customers, and we expect that momentum to continue.
Notably, here are two critical areas that Document Generation is already making an impact:
- Enhanced client and business reporting on your terms
Professional-grade reporting shouldn’t require hours of manual effort per deliverable. Teams can now build out a library of their most-used report templates (or work with our team to do so), then populate and export branded, polished documents in just a few clicks at whatever level of detail is right for your team or your clients. We’re already seeing this used to enhance client interactions and to arm financial advisors with valuable, client-facing documents. - Streamlining carrier workflows
Broker of record changes, beneficiary changes, and other redundant form fills from carriers often occupy a significant amount of time. With Document Generation, Proformex users can bring carrier forms in as templates, map placeholders directly to their data in Proformex, and autofill on command. What used to be a policy-by-policy process can now be done across your entire book in minutes.
Document Generation is live and available to all Proformex users. Reach out to your CSM or schedule a demo to get started and stay tuned for more exciting use cases.
Filling the gaps in your clients’ wealth picture
Proformex is always seeking ways to bring in more and better data to our customers and deliver it in ways that help drive targeted actions for their teams and clients. This month, we’ve expanded our data platform in two ways that are already having a meaningful impact.
- Easily accessible surrender charge data to enable more holistic advice
We know contract surrender information is valuable for financial professionals. Through this data expansion, users can quickly see surrender charges associated with contracts and report on that information in just a few clicks. The result is more targeted conversations with clients around this level of detail with the contract. Better data, better advice, better outcomes. - More data flowing through 3rd party integrations
Proformex integrates with many wealth tech platforms such as Advyzon, Orion, and Black Diamond. Up until now, those integrations have largely focused on annuity contract information. With this month’s update, Proformex integrates life insurance policy data into these platforms, empowering financial professionals with a holistic picture of their clients’ wealth that’s inclusive of both life insurance and annuities, which are notoriously held away from other household financial data.
Life insurance and annuities have long been the hardest pieces of a client’s wealth picture to see clearly. These updates get you closer to the full picture and better positioned to act on it.
Bringing it all together
The through-line across everything we released this month is the same thing we hear from our customers across the industry: data is only as valuable as your ability to act on it quickly and confidently. SmartGroups, Document Generation, and our expanded data platform and integrations are all built around getting business-ready information to you faster in formats that you can take directly into the conversations that matter. We’ll keep building toward that. More to come!
Ready to explore what’s new? Connect with your CSM or schedule a demo to see these features in action.