Take the lead on user experience, speed to market and upselling.

Transcription

1 Take the lead on user experience, speed to market and upselling. Enhance user experience in all distribution channels, from traditional face-to-face to direct online distribution. Available disconnected or connected, InsuranceElements offers advanced, user-friendly sales and engagement tools that optimize advisor performance and customer experience.

2 Advanced sales and engagement tools Preferred by many insurers in North America and elsewhere, InsuranceElements is one of the most advanced digital systems in the insurance sector. The platform features four components - Insurance Needs Analysis, Illustrations & Embedded Sales Strategies, Electronic Application and Policy Servicing & Agent Portal available separately or as part of our comprehensive SaaS solution. A business-driven solution SIMPLIFIED PROCESSES Reduce complexity with a single application for life, health and annuity product lines. Streamline digital experience across the full life cycle of a policy, from sales to claim. Become autonomous by customizing in-house the easy-to-configure user interface. INCREASED PRODUCTIVITY Improve time to market and reduce cost of releasing new products. Use the API to integrate with external calculation engines such as Oracle Insurance Policy Administration. Lower cost of ownership. SUPERIOR USER EXPERIENCE Better engage with the customer to identify evolving insurance needs, increase satisfaction and generate upsell and cross-sell opportunities Take advantage of a layered architecture to fully customize the UI across platforms without changing the core product. Value-added features Compatible with all existing core platforms Advanced, easy-to-use multilingual interface Supports extensive customization to match your product go-to-market strategy without jeopardizing the ability to upgrade Supports multiple currencies Omni channel access: Mobile, Web, disconnected Tablet-friendly, mobile-ready and optimized for all browsers State-of-the-art technology ACORD-based data exchange On-premise or SaaS solution, with three major upgrades annually Industry-leading client-friendly reports in PDF format

3 The leading digital insurance solution Struggling with the changing regulatory environment, the shift to less intrusive products or the push towards online/mobile client interaction? InsuranceElements provides a competitive edge to achieving your business objectives. Whether in the cloud or integrated into your platform, this advanced suite will help you change the way you do business by providing maximum flexibility at minimum risk and cost, while improving your company s market differentiation capabilities. Disconnected or connected. Web and Desktop Configure once, distribute everywhere Same user experience on both connected and disconnected versions Run full illustrations without Internet access; data will synchronize when Internet is accessible Mobile Generate mobile applications for all platforms using Xamarin QuickQuote Web feature for mobile quoting without the native app Automatic sharing of rules between Web and stand-alone versions Rules & Product Configuration

4 Insurance Needs Analysis Quickly assess a client s current situation and future insurance needs. Full range of customizable and easy-to-use tools designed to help advisors create a detailed assessment of a client s current financial well-being and plan for future needs. Easily assess existing and optimal coverage for life, critical illness and disability insurance, using different variables. Set any number of income replacement periods, each with their own specific needs. Create a detailed assessment of a client s assets, liabilities and net worth. Easily generate a Financial Needs Analysis document required for the sale of insurance products, in compliance with many jurisdictions. Consider assets to be liquidated upon death and liabilities that may already be insured. Key functionalities Alternate scenario sliders to immediately assess the impact of any change to overall assumptions Quick Capture data grid entry mode option with default assets and liabilities to accelerate data entry Shared data between modules to eliminate duplication of data entry ASSUMPTIONS NET WORTH NEEDS IN-FORCE RESULTS DETAILED RESULTS Doe, John Current Plan 60% of your insurance need is currently not covered. There is a shortfall of $1,655 per month which includes the monthly income replacement need of $2,749. Based on this income replacement and expenses shortfall, plus other considerations that were provided, we recommend an additional coverage of $756,400 for the next 38 years. 100% 50% 0% INCOME REPLACEMENT Other Considerations + Estate Assets - Existing Life Insurance - Needed Life Insurance $876,400 $380,000 $0 $500,000 $756,400 Alternate Scenario General Assumptions Other Considerations Amount $5,000 Additional Contributions Until Retirement Additional Life Insurance $8, % 50% 0% INCOME REPLACEMENT Other Considerations + Estate Assets - Existing Life Insurance - Needed Life Insurance $868,542 $5,000 $0 $500,000 $373,542

5 Illustrations & Embedded Sales Strategies The gold standard for life insurance illustrations. This mobile-friendly platform leverages state-of-the-art technology to deliver easy policy illustrating, sales strategy development and quote building of complex products across multiple platforms. Reduce complexity by providing a single application for all product lines. Make it easier for agents to do business with you and increase upsell opportunities. Improve time to market and reduce cost of releasing new products. Integrate the user interface with your other applications to offer superior customer and agent experience; update the UI independently of vendor. Reuse investments from other projects such as policy administration or prior illustrations, and eliminate calculation discrepancies. Demonstrate application of the insurance product. Complement illustration with additional calculations, comparisons with alternative financial products, or demonstrations of tax consequences. Key functionalities Cash Value, Deposits, Premium Premiums and Deposits Premiums Deposit amount CV $2,500 $2,000 $1,500 $1,000 $500 $ $70,000 $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 $0 Omni channel access: Web, disconnected, mobile Multilingual: English, Spanish and French out-of-the-box user interfaces and reporting Supports full life, health and annuity product lines, as well as multi-life and multi-coverage Layered architecture allowing customization of the UI across platforms without changing the core product API to integrate with external calculation engines such as Oracle Insurance Policy Administration New business and in-force illustrations Advanced scenarios with withdrawals, loans and deposits Compares specific elements (e.g. term periods) or full products side-by-side Pre-built templates to jumpstart illustrations Quick quote interface for smartphones Statistics and analytics dashboard to fine-tune user experience

6 Electronic Application Create a user-friendly, paperless experience. This advanced wizard goes far beyond the generic smart form to enable simple, speedy data entry for insurance policy submissions and servicing. Capture market share by improving the ease of doing business. Stimulate adoption by optimizing questions through a flexible engine. Ensure simple, speedy data entry while reducing NIGO rates. Improve time to market and reduce cost of releasing new products. Support new distribution channels. Increase processing capabilities. Easily integrate your CRM and back office systems. Ensure compliance with increasingly demanding transparency and auditing regulations. NEEDS ANALYSIS INSURED POLICY DESIGN RESULTS DETAILS REPORT DESIGN APPLY ID: 163 Product Info Page Display Proposed Insured Information John Doe Jane Doe John Doe Jane Doe Owner Information Beneficiary Information Health Information Replacement Information Payment Finish PRINT John Doe First Name Last Name Social Security #/ Tax ID Place of Birth John Doe Country Canada Key functionalities Omni channel access: Web, disconnected, mobile Multilingual: English, Spanish and French out-of-the-box user interfaces and reporting Entirely built on worldwide adopted ACORD standards, enabling easy integration with third-party systems and policy administration systems Easily configurable (XML) forms and PDF exports E-Signature for full straight-through processing Step-by-step or loose navigation mode to fit different audiences Notification and workflow capabilities Lock and full traceability for audit and legal bindings Attachments and notes enabled to create single package submissions

7 Policy Servicing & Agent Portal Improve customer and agent experience with a flexible online presence This mobile-friendly platform allows insurance companies to deliver a secure online experience to their clients and agents. Establish a secure client portal to deploy your edelivery strategy and online customer communications. Facilitate policy changes through real-time self-serve transactions. Benefit from a customizable integration model that adapts to any administration system. Key functionalities Offer a secure online vault for critical agent documents including policy contracts, commission statements and tax statements. Enable agency management of in-force business through MyTeam access management, hierarchy visualization, placement and team commission reports. Completely configurable and customizable white-label technology Built-in integrations to Oracle Insurance Policy Administration Self-serve configurable transactions leveraging admin rules Secured vault for econtract and edelivery Corporate alerts and announcements through a secured inbox MyTeam: Share access with assistant and team Special access and benefits for VIP agents Who we are Because life s complicated enough Your Online Insurance Advisor What we do FAQ s Contact us English Log out

8 A comprehensive insurance offering InsuranceElements is part of Equisoft s extensive offering designed to help you streamline your policy lifecycle management process from end to end. Insurance Needs Analysis Illustrations & eapp Policy Servicing & Agent Portal New Business & Underwriting Producer Management & Compensation Policy Administration Claims Flexible licensing InsuranceElements features flexible pricing options to meet the specific needs of insurers. Available as an integrated suite or as separate modules Options include on-premise licensing, SaaS and customized license models Fixed-cost configuration and/or customization services available About Equisoft Founded in 1994, Equisoft offers advanced digital business solutions to its clients in the insurance and wealth management industries to support their growth. The firm develops and markets innovative front-end applications (InsuranceElements and WealthElements) featuring industry-leading user interfaces and state-of-the-art technology. In addition, Equisoft is an Oracle Insurance Policy Administration integration partner for some 20 carriers globally. To complete this unique offering, Equisoft brings extensive experience in data migration through its subsidiary Universal Conversion Technologies. Equisoft has a growing team of nearly 300 specialized resources based in the USA, Canada, Latin America, South Africa and India. Contact our Insurance Solutions Team USA Roger Soppe T , ext. 333 roger.soppe@equisoft.com Canada and Caribbean Ruben Veerasamy T , ext. 125 ruben.veerasamy@equisoft.com Latin America Mauricio Monroy T , ext. 214 mauricio.monroy@equisoft.com Europe, Middle East and Africa Simon Richardson T simon.richardson@equisoft.com equisoft.com