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Cool tool for insurance sales execs from MphasiS

Bangalore, June 10, 2013— Leading IT services provider MphasiS, has unveiled an Insurance Sales Modernization (ISM)   solution which enables Life Insurance and Annuity sales executives to fill out and process new insurance applications electronically, using their natural handwriting using paper and digital pen or tablets. MphasiS offers ISM as a hosted solution and is responsible for all system and agent set up including the preparation of application forms and coding of company specific rules for editing application data. With no startup costs and a fixed charge per agent per month--regardless of the volume of applications written, with ISM, agents can sign into an MphasiS portal to confirm that their handwriting has been interpreted correctly and the data has passed all company edits and then submit the application for immediate processing.
The system is also designed to check if all required forms have been included. Once all the necessary forms have been received and checked for completeness and accuracy, additional checks and calculations can be carried out to determine if the policy is eligible for instant issue, or the agent is eligible for an instant commission. Daily, weekly or other contest points can be calculated and the agent’s standing can be instantly displayed. This entire process can take place in a few minutes while the agent is still with the client.
Built in partnership with ExpeData, a global leader in natural input technologies including handwriting at the point of entry, and Anoto, the manufacturer of the digital pen used by MpahsiS, ISM provides many benefits to insurance agents including:
• dramatically reducing the time and cost for submitting new applications and ensure uniform submission of data, regardless of tool/device used.
• providing agents the option to use paper applications or tablets with no impact on overall savings.
• ability to complete applications without requiring internet connectivity.
• Additionally, if internet connectivity is available, all editing can be done in real-time while the agent is still with the client.


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Cool tool for insurance sales execs from MphasiS
by Cristina on June  26,  2013
  "I agree with Mr. Tan that consumers shulod use low cost and not fall prey to predatory insurance agents who only want to sell WL or limited WL. In order to have enough WL insurance fails to meet the needs at a low cost. The child with critical illness is a very rare case and consumer shulod not spent so much just because insurance agents use scare tactic to frighten you into buying.H&S is cheap and it takes care of much of the treatment cost. There is no income replacement for a child.Do not use the so called 'unigue circumstances' or 'everybody has their own needs' to support the argument. While it is true that everybody has different needs. The question is do insurance agents meet these unigue needs with WL? WL can't because it is beyond many man in the street.Only the rich can have FULL coverage but they are not dumb too. They buy term , cheap and good and can address the needs fully. Even actuaries will say consumers are dumb to use WL to address personal risks. Insurance is about protection and one must have FULL coverage and not partial WL.This is what insurance agents want to see so that they can have more business to do.I find them disgusting..They have no moral and conscience. They are selfish and only see commission but not the consumers' interest and needs. Please read Christopher Tan's article in the Sunday Times about terms. He uses term to help his clients to manage risk and not dump WL on them.Why Singaporeans are under insured is because insurance agents only go for commissions and they talk so much about WL. What if high commission is shifted to term products, i wonder what will be their argument?"
Cool tool for insurance sales execs from MphasiS
by Cauane on June  29,  2013
  "your best bet is to do what I did. Find a company that is flraiy small, a broker agency and use them to build your insurance career then move on. I am in the process of doing that now. I work for a broker that employs 10 people. We use over 20 different companies. I am salary, with no commission for now. But the benifits are amazing. First of all they (my Employer) paid for me to go to school for the 40 hours to get my license. Then they paid all fees, fingerprinting, backround check, test fees, transportation expenses, everything was taken care of by them. I had no fees paid out of pocket. Plus, they pay for me to go to school, the seminars and classes, as well as test fees, license filing fees, everything. It can be rather expensive, especially iff you are going for any designations like I am. I am currently working to get my CISR and CIC at the same time. it can cost thousands of dollars before you are done. Not to mention the costs to maintain your license. Not all companies, especially the big ones, will pay for all that. And I came into this place, with only telemarketing experiance, a bad backround check and no money at all. Within the last year, I have almost doubled my salary, get pretty big bonuses and reviews twice a year."