Developed with advisers and their teams, according to TAL the new feature brings together all inforce policy information into a single dashboard. Described by the life insurer as “intuitive”, TAL stated “this means secure, faster and insights-rich management of their inforce policies, giving them time back to focus on their clients.”
TAL claims that early adopters of the dashboard are already saving up to 30 minutes a day on common inforce tasks such as managing overdue policies and identifying policies at risk of lapsing.
“We know advisers want to spend more time with clients, and less time chasing paperwork,” said Aaron Newman, TAL general manager – individual life product, individual life.
“Inforce Management was co-created with advisers and their teams. Their insight helped identify the friction points, allowing us to deliver intuitive solutions that support how advice practices operate.”
According to TAL, the new dashboard will provide advisers with:
- Improved visibility – Gives advisers clear, up-to-date insight into client policy activity and service requests.
- Streamlined workflows – Provides quick access to common transactions, such as updating client details and payment information.
- Secure file handling – Uses a Secure File Transfer tool so advisers can send alteration requests safely, with immediate confirmation of delivery.
- Consolidated support – Brings key functions together in one place, helping advisers support clients more effectively at important stages.
“We see technology as a powerful enabler of quality advice and strong client relationships. Our role is to build systems that support good outcomes and reduce complexity,” said David Arthur, TAL general manager, individual life technology and delivery.
“Inforce Management builds on our existing digital capability and marks a meaningful step forward in how we support advice practices. We will continue developing these tools alongside advisers, with more enhancements already underway,” he added.
Alongside the dashboard, TAL has also introduced ‘TAL IN Focus’, a new weekly reporting email that “gives advisers and their support teams a quick snapshot of all upcoming required client actions and activity. This weekly communication will help them to plan ahead and respond quickly to clients who need support.”
Other new products launched recently by TAL include a new retirement solution in collaboration with HUB24, which according to the company will enable “advisers to deliver their clients greater financial confidence and security throughout retirement”, adding that the intended goal of the platform is to help address one of the most pressing issues facing clients: people out living their retirement savings.
Advisers can access Inforce Management through their existing TAC login or contact their Business Development Manager for support and share feedback.
It’s a great initiative which CDM Solutions has been doing and providing for advisors for all insurance companies not only Tal.