The life fulfilment platform Policygenius Pro will be made available to Impact Partnership’s network of financial advising and broker-dealer partners as a result of a partnership between Policygenius and Impact.
A readymade partnerships platform called Policygenius Pro, which debuted earlier this year, assists advisors in streamlining and accelerating the selling of life insurance. Using the technology, agents and consultants may direct their clients to Policygenius to guide them through the entire process, from making a final decision on a policy to putting coverage into effect.
Through the agreement, Impact’s network, which includes more than 200 constituent companies and 2,000 advisers, will be able to help clients obtain term life insurance coverage while putting less time and effort into it. According to the firms, the time savings will enable Impact to lower its term life insurance placement expenses while also seizing additional opportunities that advisers would have passed up because of the difficult process of acquiring coverage.
Clay Eschrich, senior vice president of life and distribution at Impact, expressed his excitement at being able to provide Policygenius Pro to Impact partners. “Term life insurance has always been difficult for advisers because it takes so much time, and Policygenius Pro is the best method to solve that problem.”
Jennifer Fitzgerald, co-founder and CEO of Policygenius, said: “Impact is a perfect partner for our Policygenius Pro platform. “They’re an inventive [field marketing firm] that encounters the same pain point that Policygenius Pro is created to solve: assisting financial advisors and independent agents supply necessary term life coverage for their clients, without the difficulties and lengthy process.” Impact’s commitment to better servicing their advisory network and end clients is demonstrated by the speed with which they deployed Policygenius Pro and accelerated adoption.
The typical placement time for partners using Policygenius Pro has been halved, and the average amount of time an advisor spends on an application has been decreased from 2.5 hours to 15-20 minutes.
We expect Policygenius Pro to help us more than quadruple our term production, according to Eschrich, so this isn’t just a means for us to unload term life. “Partners will be able to concentrate on higher-value business and boost their total profitability just by being able to save so much time managing the logistics of getting their clients insured. We believe that we can now turn term life into a profit centre rather than a cost centre.
