In the past several years, the Internet has made headway into our homes and businesses. As far as the life insurance industry goes, many consumers use the Web at least to compare the prices of a variety of insurance and annuity products before they purchase a plan.
New demand has been mounting in the industry for software suites that help turn online comparison shoppers into new customers by providing both agents and consumers with more diverse content and tools.
In recent months, several software developers have begun offering products to tap such growing demand.
Tampa, Fla.-based agentLife has released SAVER3. The software suite contains a delivery channel allowing insurers and their customers to process transactions over the Internet. It allows users to complete an online sales process with a wide range of features, including the appointment process, product illustration, case analysis, report production, underwriting and case submission.
“It enables someone who is not familiar with life insurance products to model and illustrate the concept of [the product he wants to purchase],” says Todd Mezrah, CEO of agentLife.
From the insurers point of view, he notes “SAVER3 puts together marketing presentations, including illustrations and case analyses.”
The price of the software suite varies, depending on how many templates the customer wants. SAVER3 runs on Internet Explorer 5.0 and above, according to Mezrah. The software solution is easy to operate and does not require any special training, he notes.
S1 Corp., Atlanta, Ga., has released S1 Insurance 5.3, an update from the previous versions, which features online quote and sales capabilities. “The software suite enables Internet users to submit applications and purchase policies online. [It also helps] agents reduce financial overhead,” says David Gordon, vice president of global insurance at S1 Corp.
“It provides an integrated picture of customers financial position in one convenient, secure location,” he continues. “Information is available with a single login, anytime, anywhere through multiple channels.” Based on the Web, S1 5.3 allows agents to receive information they need via such mobile devices as Sprint PCS mobile phones and PDA handsets, according to Gordon.
The software suite includes a number of customer-friendly features. “It comes up with personal financial data, news and market information, financial planning tools, and money management advice,” says Gordon