The RightBRIDGE Insurance Wizard uses a sales intelligence engine to determine the amount, mix and type of insurance for a client’s needs and objectives. The engine then compares the different type of insurance and rank orders those that best meet the client’s objectives.
Life Insurance Wizard
The Life Insurance Wizard has two options: 1)Validation 2) Selection
Validation: The RightBRIDGE Life Insurance Validation Tool uses an AI engine to determine the suitability of a proposed or in-force policies in the state of New York. The solution supports new sales, replacements or changes to an existing policy.
Collects Reg 187 data elements
Provides validation scoring for proposed product
Summarizes results in validation report.
Note: See New York Reg 187 Section for more details.
The process used for product selection:
The LI Wizard gathers client information including client’s age, income, and current insurance coverage.
Users can compare an expanded selection of life insurance types.
Analyzes and Calculates Needs
The engine analyzes and calculates the size and mix of insurance that a client may need.
Step One: Fact Finding
In addition to capturing the basic information regarding the client the LI Wizard helps to identify the specific needs for insurance. The input screen allows the advisor to quickly select the areas of need for life insurance. The LI Wizard gathers client information including client’s age, income, and current insurance coverage
Step 2: Calculating Size of Need and Analyzing the Type of Insurance Needs
The size and type of insurance needs are analyzed and presented in an easy to understand layout.
The engine calculates the size and mix of insurance and graphically illustrates the time horizon on each type of insurance need identified. ReasonText explains both the calculations and recommended insurance mix.
Step Three: Summary of Product Options
The life-time and temporary insurance products are rank ordered and explained. A financial professional can select any of the products listed and is provided with detailed ReasonText™ on each insurance policy.
Step Four: Side-By-Side Comparison
A financial professional can also select to compare life insurance products side-by-side as illustrated on the screen to the left.
Once the advisor selects the insurance products they can illustrate the premiums, cash value build up and death benefits and make any adjustments to the mix of life-time and temporary insurance.
The Life Insurance Wizard Difference
Reason why the Life Insurance Wizard is different than other software options
Reason 1: Reason Text
Reason Text gives the financial professional detailed dialogue to present to their (client) based on the data that has previously been entered.
Reason 2: Side By Side Comparison
Side-by-Side Comparisons allow financial professionals to view and analyze selected annuities and sort based on features and costs.
Reason 3: Printed Reports
The report captures the client data used in the analysis as well as selected annuities complete with reason text for each annuity and a comparison chart of the annuities selected