In this guide 6 sections
Start with one record per family, with every policy listed under it whichever insurer issued it. Premium due dates, lapses, maturities, claims and commission then read from those same records. GullySystem’s Life Insurance Agency Management Software holds that register. The diary, the loose sheets and the reminder list can then be retired.
One family record before anything else
A life insurance book is usually spread over a diary, spreadsheets and each insurer’s portal. Each holds part of the picture. None shows the whole family.
Start with the client file. It holds contact details, KYC papers, family links and nominees. Every policy sits under the family, so the advisor sees total cover by member and by plan. Endowment, term, money-back and pension plans from different insurers appear together.
The owner decides how families are grouped before any data moves in. That choice shapes every report that follows.
A policy register that carries the dates
Each policy is recorded with its insurer, number, plan, sum assured, premium paying term, policy term and riders. The benefit schedule is stored with it. The bond is filed with the family.
Dates matter more than any other field. Premium due dates, grace periods, survival benefits and maturity all fall on the policy. Entered once, they feed every list the desk and the advisors use.
Premium mode is recorded too. Yearly, half-yearly, quarterly and monthly policies fall due on different days and need different reminders.
- Insurer, policy number and plan
- Sum assured and premium
- Premium paying term and policy term
- Riders and benefit schedule
- Nominee and bond location
Reminders and receipts from the same list
The premium due calendar shows what falls due by day, week and month, by premium mode and by advisor. Reminders go to the client by WhatsApp, SMS or email. The wording is drafted with the agency.
Premiums are paid where the insurer accepts them. The software does not collect them. The desk records each payment as a receipt entry with date, mode and number, so every policy carries a payment history.
Policies past the due date move into a grace and lapse list. Each call and promise is noted against the policy, and revival stays visible.
Claims, benefits and commission matched to records
Survival benefits and maturity dates fall years after the sale. They are recorded against the policy, so the desk contacts the client and collects papers before the date. A death claim is followed from intimation through documents and insurer queries to settlement.
Commission works the same way. Each insurer’s statement is matched to the policies sold. Lines that do not match are listed, so gaps stay visible. Rates and incentive rules are set up as each insurer pays you.
Reports then read from these records. Owners see commission by insurer, advisor and team.
When a diary and the insurer’s portal are enough
An advisor with a few dozen policies can get by on a diary and the insurer’s own portal. Software starts to pay its way when advisors, insurers and due dates multiply.
An agency selling motor, health and fire cover will find general insurance software closer to that work. This product is built for life policies.
The owner decides three things first. Which insurers and plans to enter, how commission rules are held, and how the existing book is checked before the first live day. Where that is unclear, a free technology audit will say whether a small book needs software yet.
Family and policy intake sheet
List every policy on one line and give it columns for the family, insurer, plan, premium mode, next due date and nominee. Fill fifty rows from your diary. The gaps and duplicates show how much cleaning the book needs before import.
Open a blank worksheet to printQuestions owners ask
What should an agency set up before importing its book?
Enter the insurers, plans and premium modes first, then the commission rules as each insurer pays them. Clients, policies, nominees and due dates follow from the diary or sheets. The desk checks the imported rows before the first live day.
Does the software pay premiums or connect to the insurer’s portal?
No, not as built. Premiums are paid where the insurer accepts them and the receipt is recorded here. Any link to an insurer’s system is scoped separately during set-up.