The Challenge
York International is a leading independent insurance broker primarily focused on P&C. As both their clients’ needs and their practice grew, York expanded to offer an even more holistic service to their clients. Today, those clients can work with them to meet all their insurance needs.
While they’ve grown accustomed to technologies and systems built to help them manage their P&C and commercial lines, managing their clients’ life insurance policies was much more challenging. Their process for checking on the status of their clients’ life policies was teeming with labor-intensive, time-consuming work. And with just one member of their team being dedicated to the life and annuity side of their business, they knew they needed to find a better way to service their existing policyowners.
The Solution
In 2021, York International came on board with Proformex to help resolve some of the challenges they were facing with servicing their life insurance policies. Blake Buden, Senior Consultant at York International, oversees the life side of the business and uses Proformex to stay in regular contact with their clients who own life assets. He logs into Proformex a few times each week and uses the policy review functionality to create a branded, meaningful touchpoint with clients to let them know how their policy is performing and help them evaluate whether any changes could be beneficial.
It’s also a great time for him to check in with their other insurance needs to see if there’s anything else the York team could be helping that client with.
For clients whose policies don’t need a full-fledged review, Blake uses the system to track premium reminders. These reminders give another great point of contact to stay front of mind for his clients in a helpful, consultative way.
The Result
Between fostering these meaningful interactions with clients and staying proactive with upcoming dates like term conversions or expirations, Blake has been able to leverage the platform to bring in tens of thousands of dollars in additional revenue in just three months.
“Proformex enables us to keep our relationships with our clients going long term,” Blake said. “Every life insurance agent needs some form of a policy management system like Proformex. The life insurance industry is behind the technology curve, but tools like Proformex modernize the way we sell and manage life and annuity products, resulting in better outcomes for policyowners and their beneficiaries.”
About York International Agency, LLC
York International is one of the leading independent insurance brokers in the nation. Established in 1985, at the firm’s core is a deep connection to serving the needs of the New York real estate community. As they grew, their focus diversified into additional industries and the related areas of insurance and risk management. They have established significant employee benefit, high net worth personal and life insurance practices alongside their broad commercial P&C expertise.
About Proformex
Proformex is a data and technology platform purpose-built for financial professionals and institutions to manage life insurance and annuity assets. With deep data and technology expertise, Proformex connects customers to critical information about their life insurance and annuity businesses and helps them make better informed, data-driven decisions. With Proformex, financial professionals have the technology tools needed to proactively manage life insurance and annuities and enhance value for their clients.