InforcePRO Announces Industry’s First Universal Life Insurance Policy Management Solution
InforcePRO, life insurance technology disruptor and provider of online policy management software, today announced the addition of universal life insurance policy management to its groundbreaking InforcePRO solution.
The
Today's announcement builds on InforcePRO's previous ability to manage term life insurance policies – with over three million policies currently under management - and adds support for the more complicated and costly universal life (UL) insurance or permanent insurance. This version of InforcePRO supports both Guaranteed Universal Life (GUL) and Current Assumption Universal Life (CAUL).
"Universal Life is a complex product, which can ultimately be extremely valuable to clients if it is managed proactively and regularly, however, since this type of life insurance is typically index-linked, many have been affected by the low interest rates of the last 10-15 years," said
"InforcePRO has really kept us focused on making sure existing term and universal life policies are getting the attention they not only deserve but are required, said
Key benefits of InforcePRO for Universal Life:
One-Stop-Shop Dashboard: Agents, advisors and brokers maximize efficiency using a single, web-based view of all in-force policies they manage across all relevant carriers. The policies are prioritized based on needs or opportunities, flagging those with greatest urgency.
Universal Life Policy Analysis: InforcePRO's analytics engine compares original policy goals to current carrier illustrations and alerts agents to potential issues such as early lapse or the need for increased premiums – turning a multi-day, manual activity into on-demand access to actionable intelligence.
Automatically Generated Client-Ready Reports: InforcePRO automates the request and download of illustrations from specified carriers to analyze options and report on the top alternative products that may better match each client's goals using 1035 exchanges – making it easy for agents to both provide great service and optimize their revenue and profitability.
About InforcePRO
InforcePRO is a breakthrough cloud-based life insurance policy management solution that has been developed by insurance and technology experts who are passionate about how technology and data analytics can dramatically raise the bar for the life insurance industry – for policyholders, agents, brokers and carriers. The
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