Proformex Announces Partnership With InsMark to Mutually Enhance Service Offerings
Two industry-leading solutions collaborate to help life insurance producers work more efficiently and effectively in a rapidly changing environment
![Approved Logo](files/79/c0/9e59bff3d0945f7a84b6d2a754c1.jpg)
CLEVELAND, May 14, 2020 (Newswire.com) - Proformex, creator of a proactive life insurance policy monitoring platform designed to give insurance agents, advisors and fiduciaries better oversight and visibility into the performance of inforce life insurance policies, today announced a partnership with InsMark, the market leader in providing illustration software and strategies, along with technology and marketing services, for the life insurance industry.
Through its partnership with InsMark, Proformex can provide InsMark’s producers access to its world-class inforce management solution. The Proformex platform gives producers a single, holistic view of their book of business – regardless of carrier or distribution channel through which the policies were written. Additionally, Proformex has built automated alerts to notify producers both of potential problems, like pending lapses or missed premiums, and revenue-generating opportunities, such as policy conversions, modifications, or replacements.
“Life insurance has certainly changed since I first started in the business,” said Bob Ritter, President of InsMark. “We know this partnership with Proformex makes sense because Proformex can help our producers better manage their business as the industry becomes more digital and more regulated. Compliance with these changing rules is not an option, but our partnership with Proformex provides producers with the option to maintain compliance more effectively, and without all the headaches and stress of trying to manage it all on their own, especially in such turbulent, uncertain times.”
COVID-19 has had a significant impact on the life insurance industry. It is evident now more than ever that ongoing policy servicing must be automated and simplified; consumers cannot always wait for answers regarding the performance of their policies. Producers need a consolidated, secure location for all their inforce data, and they need to proactively monitor those policies in order to deliver the best possible outcomes to their clients.
“We are thrilled about our partnership with InsMark,” said Mike Pepe, Founder and President of Proformex. “The team at InsMark embodies the same customer-first mentality we do at Proformex, making it an incredibly natural union. InsMark’s industry-leading solution helps agents sell more complex cases, and our solution helps to simplify the post-sale servicing of those products. Between the two organizations, we are closing the pre-sale and post-sale loop to make it easier for life insurance professionals to proactively manage policies after they’ve been sold and, ultimately, protect their policyholders.”
This partnership continues Proformex’s aim to be a trusted partner throughout the industry, working to enhance the depth of inforce servicing for policyowners. To learn more, visit www.proformex.com.
About InsMark
Founded in 1983 by insurance leader, Robert B. Ritter, Jr., InsMark provides illustration software and related marketing services for the life insurance and financial services industries. InsMark serves triple the number of client companies as its nearest competitor, with some 25,000 producers using its products, of which 15,000 actively subscribe to the service. InsMark’s national headquarters is in San Ramon, CA.
About Proformex
Proformex provides life insurance inforce policy management solutions to independent agents, financial advisors and trustees. Our carrier and distribution agnostic platform enables customers to securely store, manage and analyze their entire inforce book of business in one place. Designed to expedite the policy review process and proactively alert customers of potential problems with their client’s life insurance policies, Proformex protects policies against lapsing, degradation and asset erosion.
Source: Proformex
Share:
Tags: inforce policy management, insurtech, life insurance, life insurance technology, software as a service, strategic partnerships