Tag: iSolve

Five Mistakes Agents Make with Permanent Quoting

Agents need to be able to react to client pricing objections in the field. But let’s face it- lugging a laptop out to a client meeting is clumsy, and distracting when trying to present. Not to mention the fact that illustration software is awkward to use in front of clients. So it gets left behind, and agents make critical mistakes that waste time and lengthen the selling process.


Here are the top 5 mistakes agents make with permanent quoting:

  1. Quoting before knowing
    Pre-running illustrations to avoid running them in front of clients is a fool’s errand. Without knowing the client’s premium tolerance, 90% of scenarios end up in the trash, wasting valuable time.
  2. Hopping on the “health class” mystery tour
    Agents are typically unaware of a client’s “true” medical background or lifestyle at the quoting stage, resulting in an assumed health class and often setting wrong pricing expectations with the client. This misalignment causes higher “not taken” policies.
  3. Whiffing on the client curveball
    Clients throw unexpected objections that require agents to adjust illustration options on the fly. And we already talked about how awkward that software is to use in front of clients, so they avoid it, causing unnecessary delays and multiple client meetings.
  4. Dying by the PDF
    Flipping through lengthy PDFs of calculations and disclosures is a presentation nightmare. Not only is it confusing to a customer, but it’s a difficult experience showing clients death benefit options, payment lengths, premiums and products hunched over a stack of 8 x 11 papers.
  5. Getting stuck in a wet world
    Illustrations are simply projections, that for compliance reasons must be signed to acknowledge the understanding of their disclosures. Why is a “wet” signature still used for collection?
    e-Signing accommodates face-to-face or remote selling, enabling deals to close faster.

Finally… a solution

We solved these quoting problems plaguing the industry by allowing agents to react instantly to client needs. No running clunky illustrations software, no pre-running multiple illustrations in advance of a meeting. This mobile experience redefines how agents quote and present a traditional illustration to customers, without having to replace your existing software. This innovation will change the way agents sell and will make the entire process more efficient at every level.

Contact Naish Berran at nberran@ipipeline.com to request a demo.

How Our Robots Ran 30 Million Illustrations in 24 Hours

Last year, our industry ran 400 million illustrations for permanent life insurance, 95% of which ended up in the trash can. Agents and their back-office staff wasted thousands of man-hours a week generating 10-20-page PDFs that are seen by a client. Why the insanity? It’s not because the insurance commissioner tells us that we have to do it this way. It’s because of the way insurance agents sell.

When agents meet a prospect for the first time, they typically don’t know the details of the prospect’s insurance needs, medical background, or price tolerance. Consequently, they pre-run multiple illustration scenarios to provide prospects with various options.

They do this in advance to avoid the clumsy nature of running carrier illustration software in front of a prospect. This madness will seemingly never go away as long as clients want options, illustrations software remains complex, and agents desire a smoother selling experience.

What if an agent could go out in the field with no paper illustrations, avoid dozens of confusing PDFs, and clunky illustration software, yet still react quickly to client curve balls…

How? iSolve.

iSolve teaches robots how to pre-run millions of illustration scenarios each month and stores these calculations in a massive online database. iSolve then wraps an intuitive user-friendly interface around these pre-run calculations, allowing an agent to use their smartphone, tablet, or laptop to instantly display various product options.

When the agent has met the client’s product and pricing expectations, the agent simply clicks a button and an NAIC-compliant illustration is rendered for all parties to e-Sign. iSolve also integrates directly into iGO e-App, making it simple for the agent to digitally apply for coverage.

As a life insurance agent that founded iPipeline over 20 years ago, I know what it’s like to be in the field with clients, and how much of an obstacle illustrations scenarios are to rapidly moving sales. Alongside my colleagues, we have developed this new illustrations innovation, iSolve, to provide digital access to infinite illustrations for a possible sales scenario. No more “wouldn’t it be nice if…” Just 30 million pre-run illustrations right at your fingertips.

Did I pique your interest? Explore the power of iSolve in my OnDemand webinar.

Explore the Power of iSolve™

Access Millions of Illustrations with Remarkable Speed and Ease

Bill Atlee, Founder & Chief Strategy Officer of iPipeline, discusses how you can accelerate sales and enhance your consumer experience with iSolve. Clients are demanding when exploring insurance options. This leads to major time investments for agents and researchers to create multiple illustrations at insurer sites to cover all policy options.

Designed for exceptional ease of use and speed, iSolve enables agents to conduct one simple and secure search to return multiple life insurance quotes/illustrations–in near real time–to accelerate sales and enhance the buying experience.

Key topics covered in this webcast recording include:

  1. Executing one simple and secure search for multiple options using millions of data combinations
  2. Automating to enhance the consumer buying experience
  3. Satisfying numerous client buying scenarios and pricing needs
  4. Streamlining the entire quoting/illustrations process

iPipeline Launches iSolve to Simplify and Streamline Life Insurance Marketing and Sales

EXTON, PA (November 27, 2018) – iPipeline® – a leading provider of cloud-based software solutions for the life insurance and financial services industry – today announced the launch of iSolve™, a new research and quoting product for permanent life insurance policy sales. Designed to simplify and streamline the process of identifying and quoting life insurance options for consumers, iSolve enables agents to conduct one simple and secure search, which returns multiple life insurance options in the form of financial illustrations. Early BGA adopters of this new agent marketing and selling product include Brokers International, Levinson and Associates, AdvisorNet Financial, and Empire Insurance Brokerage.

“Clients can be very demanding when exploring life insurance policies. They expect to see multiple purchasing options for a variety of scenarios and prices, and this is an exhaustive and complex undertaking,” said Tim Wallace, CEO, iPipeline. “With iSolve, our new research and quoting product, marketers are no longer forced to spend hours creating multiple illustrations to cover all the policy options a client might want to review.”

“iSolve has database housing values for every possible illustration solve scenario, which include premiums, target premiums, cash surrender values, distribution amounts, internal rates of return and guarantee years for all the top insurance companies,” added Wallace. “Millions of data combinations are at the agent’s fingertips, making it simple to compare sales scenarios for various carriers in the industry. It’s all about speed to market in this industry, and we see iSolve as a valuable marketing innovation for anyone selling life insurance.”

“We are excited to invest in a software that is going to streamline many of our internal processes. We have been looking for some time for a product just like iSolve,” said Ryan Witte, Senior Vice President of Sales, Brokers International. “As an early adopter of the solution, we look forward to providing real-time feedback to influence the next round of updates for the product.”

“As a leading IMO providing our 15,000 agents nationwide with the latest in technological innovations, we are always searching for the next ‘game changer’ to help our agents streamline their business, save time, and gain a speed-to-market advantage,” said Bill Levinson, Managing Partner, Levinson and Associates. “iSolve makes the task of researching and quoting multiple carrier perm products a simple, accurate and extremely quick process. This is potentially a real game changer for us, and we are expecting immediate adoption across our agent base.”

“AdvisorNet was looking for a tool to make running illustrations more efficient for both our advisors as well as our internal and external wholesalers. We often create spreadsheets and run countless illustrations which takes an enormous amount of time,” stated Aaron Niedorf, Vice President of Insurance Operations, AdvisorNet Financial. “With this new illustration tool, our staff will save time and our advisors will have the ability to make changes and run different scenarios without requiring assistance. This will cut down on the back and forth for the rerunning of illustrations and creating of manual spreadsheets. We are viewing this as a win-win for everyone.”

“As a life insurance brokerage, we take great pride in providing our brokers with the ultimate products and tools needed to simplify the complexities of the life insurance market,” said David Braver, Principal, Empire Insurance Brokerage (EIB Inc.). “iSolve is an innovative and powerful tool, which will save our brokers a lot of time and enable them to close more cases rapidly and efficiently. We view iPipeline as a solutions provider driving innovation within the life insurance industry, and we are excited to jump-start this new product deployment with our agents.”

iPipeline’s solutions are designed to enable the life insurance and financial services industry to automate and simplify all new business, administration, and in force management tasks to achieve desirable business outcomes. For assistance in reimagining how your organization does business and achieving a competitive advantage, contact sales@ipipeline.com or call 1-800-758-0824, option 2.

About iPipeline

iPipeline is a leading provider of cloud-based software solutions for the life insurance and financial services industry. Through our SaaS-based new business acquisition platform, we accelerate and simplify sales, compliance, operations and support. We provide process automation and seamless integration between every participant in the financial services industry including carriers, agents, general agencies, advisors, broker-dealers, RIAs, banks, securities/mutual fund firms, and their consumers. Our innovative solutions enable automated processing for pre-sales, new business and underwriting, policy administration, point-of-sale execution of applications, post-sale support, data analysis, reporting, consumer delivery and self-service, and agency and firm management.

iPipeline provides the process automation and seamless integration needed on a global basis to make a sale by aggregating more than 130 carriers, 1,300 distributors and financial institutions, and their agents and licensed advisors in a cloud-based environment. With headquarters in Exton, Pennsylvania, iPipeline has locations in Bromley (UK), Cheltenham (UK), Dallas, Fort Lauderdale, Huntersville, Ontario (CA), Philadelphia, Pleasanton, and Salt Lake City. Visit www.ipipeline.com