News & Insights

2 min read

Annual Policy Reviews, Automated with Proformex

Jan 17, 2019 7:30:00 AM

Annual policy reviews are essential to ensuring that policyowners' expectations are met. But they're both time consuming and costly. Did you know you that Proformex automates the policy review process and can even generate client-ready reports? By doing so, you'll save yourself time and money, and deliver a more consistent and comprehensive reporting experience to your clients. Watch our latest video to learn more about how Proformex helps with policy reviews.



Reviewing life insurance policy performance is an essential part of ensuring that policy holder expectations are met, but it’s a time consuming and costly process.

Before a policy review begins, certain contract information must be verified, such as:

  • When is the policy anniversary date?
  • How much coverage is required?
  • How long is the coverage needed?
  • How are premium payments structured?

Once policy owner expectations are confirmed, annual policy values and inforce illustrations need to be requested from the carrier.

After carrier documents are received a thorough review is required in order to create a client ready report.

Proformex is an inforce policy management platform that automates policy reviews, saving time, reducing cost, and delivering a more consistent policy monitoring and reporting experience.

The Proformex Policy Review Process:

  • Establishes Individual Policy Performance Parameters
  • Automates annual statement and illustration ordering
  • Archives carrier documents
  • Imports statement and illustration data
  • Provides year over year monitoring of Individual Policy Performance
  • Generates Client Ready Reports

To learn more about how Proformex can help with policy reviews, visit our website.

Written by Admin

Post a Comment