Proformex Founder Mike Pepe explains how the novel coronavirus is impacting the life insurance industry
CLEVELAND, Ohio – March 26, 2020 – Proformex, creator of a proactive life insurance policy monitoring platform designed to give insurance agents, advisors and fiduciaries better oversight and visibility into the performance of inforce life insurance policies, has published the white paper, “COVID-19 and the Life Insurance Industry”.
This paper, written by Proformex Founder Mike Pepe, provides an overview of how the novel coronavirus is impacting the life insurance industry. From carriers to producers to consumers, everyone has questions and concerns about what this global pandemic and its economic impact means for producers' sales, for the need for carriers to develop new life insurance products, and for the consumers' changing needs.
“COVID-19 and the correlated economic upheaval it brings is raising lots of questions and concerns across our industry," Pepe said. "We wanted to address some of those concerns in a formalized way and extend a helping hand to the industry, because we are all in this together and we will make it to the other side of this crisis. The health, safety, and well-being of our clients, partners, employees and all their families are paramount."
Pepe also explains how leveraging an automated inforce policy management platform can help to save time and keep folks informed.
Proformex provides life insurance inforce policy management solutions to independent agents, financial advisors and trustees. Our carrier and distribution agnostic platform enables customers to securely store, manage and analyze their entire inforce book of business in one place. Designed to expedite the policy review process and proactively alert customers of potential problems with their client’s life insurance policies, Proformex protects policies against lapsing, degradation and asset erosion.