Proformex and Ensight Team Up to Transform Life Insurance Inforce Policy Monitoring
CLEVELAND, August 12, 2020 (Newswire.com) - Ensight, the leading life and annuity digital sales acceleration platform for insurance carriers, distributors and financial professionals, today announced it has partnered with Proformex, the market-leading inforce management platform. The company will integrate Ensight’s quoting API platform to enhance Proformex’s intelligent inforce policy monitoring, which provides insurance agents and financial advisors better oversight and visibility into inforce policy contract performance.
The partnership is part of Proformex’s strategy to simplify the complexity and challenges of managing inforce business at scale while providing actionable insights for its customers. Integrating the Ensight Quoting API enables Proformex customers to evaluate potential protection options for their clients during the policy review process without ever leaving the Proformex platform. The result is a solution that saves time and enhances overall policyholder service.
“We’re excited about our partnership with Ensight,” said Mike Pepe, founder and Chief Strategy Officer of Proformex. “The ability for our customers to access automated product quoting from Ensight directly in the Proformex platform is game-changing to make policy reviews fast and easy for our customers. This relationship strengthens our mission of being a partner across the life insurance ecosystem while we reimagine how all policies are serviced after they’ve been sold.”
As Best Interest (BI) regulation continues to extend into the Life and Annuity market, ongoing policy servicing becomes increasingly important to complying with fiduciary standards. Over time, a policy’s death benefit, cash value performance and net surrender value can be negatively impacted by a range of factors. It is increasingly critical that financial professionals monitor a client’s overall policy health and, when necessary, compare the inforce policy against new potential protection options in the marketplace.
Ensight’s life insurance API provides access to the broadest number of life insurance carriers, products and product classes in the U.S. life insurance industry today. The Ensight API supports over 22 leading life carriers and 200 products and has the ability to quote across product classes (Term, GUL, Whole, IUL, VUL) for a common case design. It is also the only API able to support platform partners seeking to meet the emerging BI requirements.
“Like Ensight, Proformex is a leading insurtech enabler helping transform a critical area of the life insurance policy lifecycle. While we focus on transforming the sales experience, from illustration design to advisor-client discussion at the point of sale, Proformex is enabling customers to securely store, manage and analyze their entire inforce book,” stated Bill Unrue, CEO, Ensight. “We are thrilled to partner with Proformex as they transition the industry from reactive to proactive inforce policy monitoring.”
Media Contact
David Morris
Chief Marketing Officer
(855) 341-1331
dmorris@proformex.com
Source: Proformex
