New Business Illustrations

Starting with our MS.NET Illustration System Framework, we at Novinsoft work with our clients to custom-build, to client specific requirements, well-designed sales tools for all distribution channels and markets.

The Desktop and Web platform version functionality, and look-and-flow are virtually the same. Novinsoft desktop illustration systems are considered the standard in Canada in terms of the user experience. It is important to replicate this on the web to minimize the learning curve and provide the same feature set and comfort.

We have developed dozens of multi-product, multi-concept insurance carrier systems over 14 years. We offer many standard illustration system features as well as a host of illustration system options. For example, any type of quote, for various sales situations, can be accomplished from one screen using the various tabs, sub-tabs, solves, etc.

However, if the quote is simple, the advisor can just go to a Quick Quote screen to enter the minimal, basic information required. Various 'what-ifs' can be accomplished using a powerful spreadsheet facility. Like everything else Novinsoft develops, this is customized to meet our clients particular needs.

Spreadsheet data can be exported to Microsoft Excel at the click of a button

Custom reports can then be generated by the advisor; column by column, selecting any column in the spreadsheet; and page by page, for viewing, printing or saving. Graphs, as well, can be viewed and added to reports and presentations. Our Graphics Engine allows for various views, colours and information presentation.

Our Illustration Systems are also designed to guide the advisor through various custom-built marketing concepts. Specific input screens, reports, and dynamic graphic post-presentations can be added to streamline the sales process. Client companies can also decide on any type of solve-for calculations that make sense for their own products.

The Illustration system can also be an Information Centre including desktop publishing-quality Guides, Rate cards, Flyers, sample contracts, applications, and various forms. We can also link to your web-site to provide additional information or automatically update annuity rates.

In-Force Illustrations

Novinsoft has leveraged our unparalleled expertise developing New Business Illustration Systems for the Canadian financial services industry in building superior In-Force Illustration Systems.

Starting with our MS.NET Illustration System Framework, we custom build to meet our clients particular needs. We give you options.

  • We can build a combined, dual-purpose New Business/In-Force System.
  • We can build these as separate systems.
  • We can build for Desktop and/or Internet platforms.

Combined New Business/In-Force Illustration Systems

  • Our combined New Business/In-Force Illustration Systems use a single calculation engine; New Business becomes just a subset of In-force.
  • Dual GUI - new business style to ease the learning curve, transactional for access to all possible features.
  • Integrated with the client company's admin system at multiple points.

Advantages of our Dual-purpose New Business/In-Force Illustration Systems

  • One calculation engine means significantly less testing.
  • The In-Force GUI is very much the same as the Sales Illustration System. Therefore no extra training is required. It's easy to use.
  • Fast products/rates update: same pointers/rates files.
  • Less on-going programming and lower maintenance costs.
  • Reduced risk of errors.
  • Less time to get In Force to the field.
  • Easier to take advantage of New Business-type functionality

The functionality is up to you. For clients such as AIG Life, Assumption Life, AXA and Transamerica In-force transactions include adding/deleting/editing.

  • UL coverages.
  • Death Benefit choices and increases/decreases.
  • Riders and Benefits.
  • COI options.
  • Switch to non-smoker.
  • Adding or stopping Maximizer/Optimizer-type options.
  • Reinvesting in different funds.
  • Switch YRT to Level.
  • Lump Sum Deposits.
  • Multiple Scenarios.
  • Override Surrender Charges, Policy Fees, COI, and Loan Details.
  • And more ...

Self-Maintenance Tools

As an option Novinsoft can provide tools such as Plan Code Database and Auto Rates Generator that allow client companies to do some of the maintenance themselves - thus saving more time and money.

Just like our powerful New Business Systems, our In-Force Systems offer full spreadsheet and custom reporting capabilities; as well as importing all the required policy information from Ingenium or other administration systems.

Significant dollars can be saved if we develop both your In-Force and New Business Systems. For more information, or a demonstration, please contact Neil Menear at sales@novinsoft.com