Requirements checklist
What to ask for when choosing software for life insurance advisors.
A checklist built from how life insurance advisors work, to print or save as a PDF and bring to any supplier meeting.
What the software should cover
Tick each one that matters to your business.
- Premium due calendar
- Family policy tree
- Lapse and revival list
- Maturity and survival benefit alerts
- Policy loans and surrender
- Nominee and document check
Roles that need their own access
Who logs in, and what each person may see or change.
- For the agency owner
- For advisors
- For the servicing desk
- For team leaders
Reports to ask for
Ask to see each one with your own sample data.
- Premiums due by month, mode and advisor
- Policies in grace and lapsed, with revival status
- Maturities and survival benefits due
- Commission by insurer, plan and advisor against statements
- Cover held by each family, by member and by plan
- Prospects and proposals by stage
Systems it may need to connect to
Note which ones you already run.
- SMS
- Mobile wallet and payment gateway
Questions for any vendor
Put these to every supplier you are comparing.
- I sell for a state insurer, a private insurer and some health cover. Where does each go?
- Can it remind clients before a premium falls due?
- Does it show policies in grace, and will it show my renewal rate?
- Can it keep track of maturities and money-back instalments?
- Can my advisors and sub-agents log in and see only their own clients?
- Does it pay premiums or talk to the insurer’s portal?
- Can commission be checked against insurer statements?
- Can an existing book be moved in?
- Who owns the client data?
- Do we need this for a small book, and what shapes the price?
- How soon can the servicing desk start using it?
- What should the agency collect before set-up?
Where the work usually breaks today
Circle the ones you recognise. They set the order of the project.
- Policies lapse because a reminder is missed
- You see policies and not families
- Maturities arrive as surprises
- Nominee details are out of date
Prefer to talk it through? See the life insurance advisors page.