The life insurance industry has been slow to adopt digital solutions, but recently I was introduced to a new company working to change that. Plum Life, founded by former executives in the life insurance industry, was created after they recognized a shift towards digitization was coming quickly and created a 100% digital platform exclusively for agents.
In today's environment, advisors are working remotely and are relying on digital tools to interact with their clients more than ever before. This can sometimes lead to a lack of personal touch and critical guidance through the sales process, but that does not have to be the case. Plum Life understands the entire sales process and has created solutions to personalize the selling experience while automating most tasks. The end result is that agents can spend less time working on administrative tasks and more time building and growing their client relationships.
As I mentioned earlier, Plum Life is built exclusively for agents, unlike some of the other platforms you may know. And it comes across in a number of ways. From how the platform is designed to the case status alerts and texts I receive, it really does feel like Plum Life was designed to help me sell. I also like the way I can promote my agency using their web quoter. This sends clients to a personalized page where they can run life insurance quotes and even start and complete the application process - a useful feature with today’s reality of clients preferring to handle transactions on their phones.
Plum Life also offers a wide range of products, including both term and permanent life insurance options, as well as Final Expense products which I am sure will resonate with agents. They even have an instant issue term product that can, from start to finish, be completed in about 10 minutes – a great option for clients looking for a fast and easy solution. In addition to their core suite, agents can access a number of popular carrier products through their Marketplace by Plum Life feature making everything from appointments to managing commissions consistent and simple.
Registration with Plum Life is free, and once complete it was super easy to get going. Everything an agent needs is just a few clicks away. For example, I can easily access reports and dashboards designed to help manage my business more effectively, and I can leverage an array of marketing tools designed to help cross-sell, promote my services online, and close more business. Agents can also access their commissions right from the portal.
While there are other digital platforms available for life insurance sales, many of them are focused on direct-to-consumer sales and put the agent experience second. Plum Life has figured out how to help me sell more effectively and work completely online with my clients. I spend less time filling out paperwork, following up with clients, or chasing down underwriting requirements. Plus, clients love the option of being able to complete the application on their time and right from their phones. To see the difference for yourself, visit their website at www.helloplum.com and register.
Ken Leibow is the Founder and CEO of InsurTech Express and a regular contributor to NAIFA's Advisor Today blog.