Information on life insurance and annuities has been some of the hardest to bring into holistic financial planning and wealth management conversations. Policy documents sit in file cabinets or stay buried in inboxes. Completing carrier forms can require hours of manual data entry. And all this historical context along with key, up-to-date policy values rarely surface in the wealth management systems where financial advisors are actually working with their clients.
“Policy documents hold information that you just can’t get from other data sources. Not only on how a policy has performed, but the intention behind it. That context matters when you’re making financial recommendations years later. By deploying technology and AI strategically, we’re providing teams with easier access to information that will save them time and enhance their client interactions.” – Amanda Yoho, President of Proformex
As more firms provide comprehensive financial planning and protection services, it’s critical to have reliable information on life insurance and annuities their advisors have sold. With the recent launch of SmartDocs and Document Generation, Proformex is furthering our effort to make sure life insurance and annuities don’t get left behind.
Together, these two capabilities deliver on a simple promise:
Clean, trustworthy data from Proformex in → clear, compelling, client-ready deliverables out.
What is SmartDocs?
Policy documents tell a story that raw data can’t. They often capture a client’s goals, intentions, current policy lapse information, and the original purpose behind why a specific product was purchased. These details matter when you’re evaluating performance or making financial recommendations later. Those documents, like carrier statements and illustrations, were never designed to be searchable or actionable, so that context gets lost. And for policies not included or unavailable in automated data sources like carrier feeds, these documents become the only source of record.
With SmartDocs, users can drag and drop documents directly into the platform, whether that’s historical files being brought in for the first time or ongoing policy updates for customers without direct carrier data feeds. AI extracts key policy values and connects them to the corresponding policy, with human verification ensuring the data remains accurate and trustworthy.
With all the policy data and context centralized, financial professionals with Proformex now have a broader picture of the policy or contract’s intention, how it’s performing, and how it fits into a client’s holistic financial plan, all without a heavy manual burden.
With SmartDocs, you can take hard to access data from documents and immediately turn it into information meaningful in your client meetings, policy reviews, and much more.
What is Document Generation?
Getting data into the platform is the first step, but turning that into information and reporting that can be acted on quickly and confidently is where the real magic happens. Document Generation prepares you with everything you need to turn your data into deliverables for your teams and your clients.
Customers can use Document Generation to produce fully polished, branded collateral, populated with data that already lives in Proformex.
As Proformex President Amanda Yoho puts it, customers “can look like they’ve just spent hours preparing for a client meeting when really they’ve just been leveraging technology intelligently”.
Customers with existing report templates, whether built around internal audit protocols, fiduciary requirements, or their own client presentation standards, can bring those directly into the platform and have them filled with Proformex data on command.
For those without existing templates, our customer success team works with you to build a library of your most-used templates. Either way, the output is personalized, client-ready deliverables that remain consistent and can be created in just a few clicks.
Examples of SmartDocs and Document Generation in Action
More important than the features themselves is how our customers are using them. Here are two workflows, traditionally slow and tedious, and how customers are using SmartDocs and Document Generation to move through them faster and with more accuracy.
Saving Time on Broker of Record Changes
For BGAs and IMOs, broker of record changes are a notoriously time-consuming process. (Especially when absorbing a block of business following an acquisition.) The workflow typically involves three steps, repeated policy by policy across a book with hundreds or thousands of records:
- Locating the right carrier forms
- Manually entering policy data into each one
- Submitting them individually to the carrier
With Document Generation, customers can upload those forms and have them automatically populated with data that already exists in Proformex, turning a process that used to take hours into one that takes minutes. The platform also tracks which policies have completed the transition and are appearing under the correct hierarchy, giving teams visibility at every stage.
Creating Consistent, Compelling Annual Policy Analysis Reports
For financial professionals, reviewing insurance information annually is important but also time consuming. It’s critical to demonstrate how policies are performing and to convey this information in ways easy for the client to understand.
Financial advisors, RIA firms, wealth managers, and other professionals can bring their existing report templates into our platform and have them automatically populated with Proformex data, or they can choose to leverage our report templates created by seasoned industry experts. In a fraction of the time, sophisticated, client-ready reports are available without the manual effort and administrative burden.
Built for Your Business, Not the Other Way Around
No two Proformex customers operate the same. Some arrive with established workflows and templated reports; others are still developing their processes. Our vision for the platform has always been that customers shouldn’t have to reshape their business to fit their technology. Technology should meet you where you are, and ours always will.
To learn more about our latest platform enhancements and how they might fit into your workflows, reach out to your CSM or schedule a demo.