NAIFA's Limited and Extended Care Planning Center (LECP) Impact Week, November 1-5, was a unique virtual event including a one-hour session covering a different type of topic each day by speakers who are industry experts and industry leaders. On Thursday, November 4, the topic was “Technology Shark Tank: Taking the Robot Out of the Advisor/Agent.” You’ve got questions and these presenters have answers! How do I take the busy “robotic” tasks out of my practice to make it more profitable? How do I stay in contact with current clients while seeking new clients? Which technology fits my practice and budget? At what point do I invest in my practice so that I can expand my outreach and professionalism? This “shark tank” style session offers four rapid-fire presentations!
The session was moderated by Ken Leibow, CEO of InsurTech Express. InsurTech Express is a central resource of information for life insurance and annuity technology, such as CRMs, agent leads, and free quoting software. To learn more, contact Ken Leibow: email@example.com, Ph. 402-740-7356. Visit InsurTech Express online. Leibow's role was to introduce and keep the presenters on track in the Shark Tank. Each presenter had a maximum of 15 minutes to make their case to the audience.
The first presenter was Charles Pedneault, CFP and VP of Insurance Distribution Solutions at Equisoft. Pedneault soundly showed how advisors can get an integrated set of sales tools from client relationship management (CRM) and a financial planning tool, to portfolio proposal and eApplication. These powerful sales tools work seamlessly together, transforming the advisor’s practice and growing sales. If you are a life brokerage agency, Equisoft also has a full back-office agency management system that includes case management and commission accounting; the Shark Tank clock ran out so Pedneault could not walk through details of their AMS. Equisoft solutions are for insurance and financial advisors, asset managers, distributors, and carriers. To learn more, contact Charles Pedneault: Charles.Pedneault@equisoft.com, Ph. 581-309-2894. Visit www.equisoft.com.
Next up in the Shark Tank was Ian Ryan, Brokerage Director of BackNine Insurance and Financial Services. Ryan did a live demo of their key platforms for advisors. “Quote & Apply" is a multi-carrier life insurance quoting and electronic application tool that is consumer-facing. Agents may also use it on behalf of their clients. BackNine Insurance offers advisors a website or integration into the advisor’s current website to use “Quote & Apply” for prospecting. Insurance products include all forms of life insurance like term & UL. BackNine represents over 50 life insurance carriers. The software is free. Ryan then demonstrated their BOSS platform “Back Office Support System.” BOSS tracks leads, quotes from “Quote & Apply,” pending cases submitted, and advisor commissions. It also can do quick quotes for impaired risk cases. To learn more, contact Ian Ryan: firstname.lastname@example.org, Ph. 516-512-1595. Visit www.back9ins.com.
Max Posner, Customer Success Manager at Proformex, entered the Shark Tank and convincingly showed how agents can nurture, attract, and grow their life insurance business using Proformex’s Inforce Policy Management Platform. The power of the platform is visibility, intelligence, and service. The platform gives unprecedented access to client policy information to keep financial advisors informed and the clients’ best interests intact. The platform enables agents to be smarter and make informed decisions, like prioritizing the right actions on the right policies at the right time. It generates graphically, easy-to-read reports for client policy reviews. Posner then pivoted to a live demo of the platform. The Proformex Inforce Policy Management Platform also helps agents discover new sales opportunities by identifying potential product improvements. To learn more contact Max Posner: email@example.com, Ph. 216-385-2782. Visit www.Proformex.com.
The last speaker in the Shark Tank was Todd Rovak, Co-Founder of Carefull, “The Money Service for Safe Living.” Carefull is for an older or aging client base. Carefull has a mobile app that is designed for financial caregiving covering coordination, contribution, and oversight. Adult children can monitor their older parents' accounts for fraud, making sure their bills are paid on time and handling financial transactions. It’s a multi-generational tool that bridges the gap. This is an emotional topic, since this older demographic is underserved and often a target of fraud. The Carefull platform includes smart monitoring, impactful conversations, advice for legal planning, and “Advisor Views.” Rovak then ended his presentation by showing the audience an impactful video about Carefull and its App. Visit Carefull online. To learn more, contact Todd Rovak: firstname.lastname@example.org, Ph. 833-836-0050.
The recordings of all the sessions from the NAIFA-LECP Impact Week are now available along with some of the PowerPoint presentations.