Last weekend I purchased a new iPad, which I plan to use for work when traveling (provided I can remove it from the grasp of my 5-year-old) instead of lugging my laptop to conferences and events. While I have used a few iPads in the past couple of years, I now find myself continually amazed by what they can do through all kinds of downloadable apps — many of which are free (including all the ones mentioned below).
After loading it up with a couple dozen great general interest apps, such as Google Earth, The Daily, Bloomberg, The Weather Channel, and of course, Angry Birds in a nod to the kids, I became curious about apps out there relating to life insurance. There is no shortage of them, particularly from carriers. But here are a few that caught my attention, and I would love to hear about more apps from readers via the comment tool below. I would also be interested in hearing about how you are using your iPad in your sales efforts.
LIFE Foundation Needs Calculator HD
The very first life insurance-related app I came across was from the LIFE Foundation. The LIFE Foundation Needs Calculator HD app, which is free, helps consumers determine how much life insurance coverage they need based on answers they provide to a set of basic financial information questions. With the staggering number of uninsured and underinsured people out there, I wish every iPad owner would download and use this app.
Life Insurance Sales Application
LISA — short for Life Insurance Sales Application — is an iPad app that provides provide unique sales training and consumer presentations. It also allows licensed life insurance agents to take full insurance applications and obtain signatures in a quick and efficient manner. You can find out more about it in this YouTube video.
Athena Indexed Universal Life
This is a good example of a specific product app from a carrier. Last October, AXA Equitable released a new life insurance app that offers an engaging way to learn how the company’s Athena Indexed Universal Life product can help address multiple needs, including death benefit coverage, cash value accumulation potential and down market risk management. AXA Equitable’s Athena IUL iPad app uses personal storytelling to explain how the product can work for different people at different life stages. Users can also tap into a “You” feature to simulate their own personal situation by selecting individual priorities. Playful “think fast” pop-up quizzes throughout the app educate users about financial facts concerning life insurance. The app also has a needs analysis calculator, a hypothetical historical returns calculator and a premium calculator.
In 2011, Aflac worked with Digitas to create a new iPad app called Aflac LaunchPad. It helps associates smoothly integrate video, animation and regulatory information in ways that are understandable and practical for the agent who is calling upon a potential account, pitching a customer or pursuing a recruit. The new app is helping Aflac agents deliver better service to customers, prospects and accounts. The company reported that it gave 150 New York-area agents iPads loaded with the app in January 2011, and it led to an 18% sales increase among the group by mid-February 2011.