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.
A testament to that influence lies in their proprietary digital products. Here we will break down how the digital experience is shaping client expectations and how Quility’s digital products are giving Symmetry agents the tools to exceed them.
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.
Beyond that, businesses are having to rethink how to apply that digital experience. Instead of starting with the tech and then understanding the client’s need, they are having to build their technology around client expectations.
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.
As an agent with Symmetry, having Quility digital products at your disposal can be a huge advantage. You can offer your clients personalized coverage at a price that can’t be beaten. With flexible term lengths, a wide range of coverage amounts and an affordable price, Quility digital products are competitive policies that will appeal to your clients.
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 QLT, Symmetry agents can offer their clients a product that won’t over-insure them and is more affordable than traditional life insurance coverage. QLT’s offerings were curated to appeal to a growing generation of consumers who require more personalized coverage.
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.
Continuing the theme of more, QTP also gives clients a maximum coverage amount of two million dollars. Giving your clients more flexibility with their protection is the goal, and that is where QTP truly shines.
When it comes to pushing the limits of digital life insurance, Quility did not stop at term life policies. Quility Secure Future Preferred (QSFP) is an instant-issue final expense whole life policy that was created in collaboration with American-Amicable Life Insurance Company of Texas.
Unlike traditional final expense policies, Quility Secure Future Preferred is targeted to healthier clients between the ages of 50 and 85 who want a higher amount of permanent coverage.
QSFP can be applied and issued to your clients in less than 10 minutes, making it one of the most accessible final expense products on the market.
The Charitable Rider is an additional value proposition for clients that purchase Quility digital products. Available with all the Quility digital products we’ve mentioned, this policy add-on lets your clients choose their favorite non-profit as a secondary beneficiary on their coverage.
Best of all, the donation made through the rider does not insured’s death benefit, but rather has an added percentage provided through the rider.
Digital experiences aren’t only for the clients though, 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.
Life insurance products are the bread and butter for life insurance agents. What you’re able to offer can enhance your personal value when working with clients. To that end, having an edge in the field can make all the difference.
Quility’s suite of digital products is letting Symmetry agents offer customizable protection to their clients using an online journey that fits their needs.
As a Symmetry agent, you will have access to high-quality life insurance, disability income insurance, critical illness insurance, and annuity products from more than 30 well-known insurance companies. This gives you the flexibility and reach you need to tailor plans to meet clients' individual coverage needs.
To learn more about how to begin a fulfilling career as a life insurance agent, contact us today.