Proformex

Proformex is a post-sale servicing and client engagement tool designed specifically for the life insurance industry. According to the vendor, it is aimed at life insurance agents, advisors, distributors, broker-dealers, and institutions. This platform offers a range of features to help professionals in the industry stay on top of premium payments, identify term opportunities, prevent premature lapses, schedule anniversaries, and proactively address policy risks. With its high configurability, Proformex can cater to the unique needs of various professionals in the life insurance sector.

Key Features

Premium Due Dates: According to the vendor, Proformex will notify users of policies that are approaching a scheduled premium payment so they can ensure their client is aware and prepared for their next premium. This feature is said to help agents and advisors stay on top of premium payments and avoid any lapses in coverage. It is designed to allow for proactive client communication and ensure timely payments.

Term Opportunities: The vendor claims that Proformex will identify policies approaching an upcoming conversion or term period end date so that users can discuss options to continue coverage with their clients. This feature is intended to help agents and advisors proactively engage with their clients to discuss potential policy changes or extensions. It is said to ensure that clients are aware of their policy expiration dates and provides opportunities for upselling or cross-selling.

Premature Lapse: According to the vendor, Proformex will order the necessary information on a regular basis to identify policies that are at risk of lapsing before their intended expiration date. This feature is designed to allow for timely intervention and actions to prevent policy lapses.

Anniversaries: Proformex is said to alert users to upcoming contract anniversaries to support regular checkpoints and reviews with important clients. This feature is intended to help agents and advisors stay informed about important milestones in their clients' policies. It is claimed to enable them to schedule reviews and discussions with clients to ensure their coverage is still suitable and address any changes or concerns.

At-Risk: Proformex is claimed to identify policies that may require additional action by the policy owner in order to maintain existing coverage, based on in-house analytics. This feature is designed to help agents and advisors identify policies that are at risk of being discontinued or not meeting the policy owner's needs. It is said to allow for proactive client engagement to address potential issues and ensure ongoing coverage.