The less time spent on paperwork, the more time an agent has to connect with clients. Carolyn Sampson, Senior Vice President of The National Benefit Corporation (TNBC), recently talked about the ease of business with the Protective Life Underwriting Solution (PLUS), and how it helped turn an application into a policy in less than a week.

“The agent knew about PLUS prior to this application, but it was always viewed more as ‘icing on the cake’ – not a differentiator in choosing Protective over a competitor,” shared Carolyn. “However, after seeing the tools in action, it made him want to write even more Protective cases.”

PLUS is designed to underwrite Protective® Classic Choice Term or Protective Custom ChoiceSM UL applicants with the least invasive requirements possible and offer clients the potential to qualify for accelerated underwriting. Protective’s suite of eTools – the EZ-App platform, TeleLife interview and PLUS – provide a “submit it and forget it” process that requires less time and effort from the agent than traditional paper processes.

On April 23, 2019, the application was submitted through BRAMCO’s Vive platform, which helps agents quote, compare and start applications for term life insurance. The TeleLife interview, records order and electronic signatures were all completed in the same day – allowing the application to be approved by April 26. This meant a policy in the client’s hands and commission in the agent’s pocket in a matter of days.

“We have been really pleased with the platform,” Carolyn said of TNBC’s experience with PLUS. “The ease of dropping a ticket is the number one perk, but you also have to factor in what a difference electronic policy delivery makes in the timeline. Being able to send a policy directly to the client instead of waiting for the agent’s availability means the client gets the coverage they need quickly and allows the agent to continue focusing on other areas of their job.”

There are clear benefits for agents once they become comfortable with online submissions. The biggest barrier used to be that online applications were just electronic versions of traditional applications, which made them even more time consuming. But Carolyn believes the opposite is true using Protective’s eTools.

“The platform not only allows the agent to avoid pulling forms, but they also have the opportunity to skip the exam work. The TeleLife phone interview is essential in cutting back on paperwork and time. It usually eliminates the need to return to the client for additional information – so, fewer forms and follow-up questions holding up the process. That paired with the electronic ticket just adds to the ease of business and cuts down on the overall cycle time.”

Carolyn stresses that other agents should give electronic applications a try. Her advice for a smooth experience is preparing clients ahead of time for the process. “The most successful applications are the clients who come to the table prepared. Protective offers great reference materials that inform clients what to expect in the TeleLife interview and what documents they should have ready. As a result, the interview doesn’t take as long, and it can eliminate the need for additional medical records and paperwork later on. The end result is time saved and stress prevented for both the client and the agent.”

Let’s deliver on our promises. Together.

PLAG.1241386.05.19
For Professional Use Only. Not for Use With Customers.
Protective Classic Choice, form number ICC16-TL 21/TL-21, is a level death benefit term life insurance policy to age 90, and Protective Custom Choice UL (UL-22), is a universal life insurance policy. Both products are issued by Protective Life Insurance Company in Birmingham, Alabama. Policy form numbers, product features and availability may vary by state. Consult policies for benefits, riders, limitations, and exclusions. Subject to underwriting. Up to a two year contestable and suicide period. Benefits adjusted for misstatements of age or sex. In Montana unisex rates apply. Premiums increase annually after the initial guaranteed period. All payments and guarantees are subject to the claims paying ability of Protective Life.

Write A Comment