November 9, 2023
The life insurance industry has seen huge changes over the last few years. Life insurance agents have transitioned to working remotely, leads are being digitally generated and clients are looking to digital solutions for their financial needs.
In its current condition, the life insurance industry needs more digital advancements to keep up with the pace of client and agent needs. Symmetry’s parent company, Quility, has made fantastic strides in that arena. From digital platforms that allow Symmetry agents to help more clients to digital experiences that allow them to meet those clients in a virtual space, they are helping shape the future of life insurance.
The life insurance industry is not alone in a shift to digital customer experiences. Everything from clothes shopping to purchasing a new car can now be done online. As it stands, providing a digital platform has become mandatory to the customer experience.
For the life insurance industry, that means online policy shopping, agent-to-client engagement and virtual underwriting. Digital products are just one piece of the overall puzzle, but they are critical to the overall success of a life insurance business’ digital transformation. Quility has paved the way in that regard — developing a suite of digital products that address the growing demand for virtual solutions.
Quility’s digital product portfolio is a response to the client demand for a digital buying experience. These proprietary products are designed to give clients who work with Symmetry agents a uniquely customizable life insurance experience.
From easy-to-use online applications to products that can be more customizable than traditional policies, Quility’s digital products are paving the way in the life insurance industry.
Quility Level Term (QLT) was the first of Quility’s proprietary products to take the stage. This instant-issue term life policy is delivered to your clients using a completely digital application process. In collaboration with SBLI (The Savings Bank Mutual Life Insurance Company of Massachusetts), Quility created this term life policy to give clients a more customizable term life policy that can better fit their financial needs.
With a maximum coverage amount of one million dollars and term lengths ranging up to 30 years, clients who work with Symmetry agents can choose an amount and term that makes the most sense for them.
Quility Term Plus (QTP) was the next iteration of what digital products would look like for Quility. Supported by Legal & General , QTP is true to its namesake by offering clients even more personalization when securing coverage.
While most coverage offers term lengths in intervals of 10, Quility Term Plus lets your clients choose term lengths in intervals of five. Ranging from 10 to 40-year terms, they can now choose a more exact length of coverage.
Digital experiences aren’t only for the clients; Quility has also invested in proprietary platforms that help automate Symmetry agents’ workflow and improve their effectiveness in the field. Switchboard is a shining example of that investment. This omnichannel platform lets symmetry agents meet with clients on their own terms.
Switchboard gives Symmetry agents a centralized location for all their lead information while nurturing the prospective client with automated outbound emails, calls and texts.
What’s more, with Switchboard, agents can record calls with their clients and quickly store any information covered during appointments. This platform is the perfect virtual assistant for our agents, and it makes keeping track of business easier than ever.