New FP Alpha Tool Lets Advisors Upload Clients’ Insurance Documents
Advisor tech expert Joel Bruckenstein called the tool “important” and the “first of its kind.”
FP Alpha has released P&C Snapshot, a new digital tool for financial advisors that uploads home and auto insurance documents quickly, enabling advisors to obtain a visual summary of clients’ current coverage, according to the company.
P&C Snapshot is the latest addition to the company’s artificial intelligence-driven platform, following tools that included last year’s second-generation tax projection tool, The Tax Projector, which offered advisors the ability to project and compare several tax scenarios and strategies for clients just by uploading their tax documents.
A few months ago, FP Alpha announced the unbundling of its Estate Planning Module and significant enhancements to its Estate Lab.
P&C Snapshot will enable advisors to “distinguish themselves from peers and provide a huge value add to clients, bringing significant peace of mind to have a second review on their insurance coverage by highlighting gaps or deficiencies in current coverage and more,” FP Alpha said.
The new tool will help users save time by reading home, insurance and umbrella policies for advisors. Automated recommendations output on how to improve clients’ current situation “will be ready in a few months,” the company said.
“This is an important addition to the FP Alpha Suite,” Joel Bruckenstein, president of Technology Tools for Today (T3) and producer of the annual T3 Advisor Conference, tweeted after the launch was announced on Sept. 7. The expert on applied technology for advisors and other financial professionals, called P&C Snapshot a “first of its kind tool for financial advisors, that rapidly uploads home and auto insurance documents.”
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