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Hancock Software Cuts Life Application Process

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John Hancock has modified a producer software program to do double duty, generating life insurance illustrations while helping complete applications for clients.

The company, a unit of Manulife Financial Corp., Toronto, says the change to its JH Illustrator software makes it easier for producers to produce and complete an application for the company’s life insurance products.

Rather than entering data for a product illustration and then filling out a separate life insurance application, the JH Illustrator makes both transactions essentially a single process.

Once the producer enters data to create a policy illustration, the same information can be applied to pre-fill the necessary application forms if the client decides to go ahead with the purchase. Additional information required by the application can then be inserted as needed.