Producers working for Phoenix Life Insurance Company can now illustrate whole life, term life and annuity products to customers in the office or in the field—and then, if they’ve successfully made their case, process the order on the spot without having to re-enter information.

That streamlined process is being made possible by Insurance Technologies’ ForeSight and FireLight software.  ForeSight enables Phoenix Life’s producers to do side-by-side on-site policy illustrations on their smartphones and tablets.  FireLight enables them to complete the sales process with paperless contracts and workflows that are customized to conform to the field sales practices appropriate for each product.

Phoenix Life had already been using ForeSight since 2005 to illustrate its annuity products.

“We recognized how powerful ForeSight’s illustration capabilities are and were eager to utilize it for our whole life and insurance products,” said Don Griswold, Phoenix Life’s Second VP of Product & Operational Delivery.  “Together, ForeSight and FireLight provide us with a competitive advantage by maximizing our distribution tactics and facilitating our sales processes.”

Automated mobile workflows can also help insurers fulfill their regulatory obligations by ensuring that required information is requested from and/or provided to the customer at appropriate points in the sales process.

“Insurance companies are looking for ways to consolidate multiple lines of business into streamlined processes that produce consistency, efficiency and cost savings,” said Insurance Technologies CEO David Fenimore.  “We are pleased to offer integrated illustration and e-applications solutions for all product lines that are customizable to meet these companies’ individual process.”

 

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