BY BILL ATLEE, JUNE 4TH, 2019
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…
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 peak your interest? Explore the power of iSolve in my on-demand webinar.