Boise, ID—July 12, 2018—Covr Financial Technologies, a digital life insurance platform for financial institutions, today announced the launch of Covr Insights, a complete inforce policy management system to track, analyze and manage life insurance for financial institutions and brokerage agencies. The launch of Covr Insights represents the third digital product Covr has introduced to the marketplace alongside the growing number of financial institutions, financial advisory firms, banks and credit unions adopting the Covr Advisor and Covr Consumer digital sales platforms.
“Policy management and tracking have long been a thorn in the side of our financial institution partners” said Covr CEO Mike Kalen. “Our partners’ ability to manage their books of business from poor performance, expirations, lapses or policy changes has been a challenge. Covr Insights is the first platform that brings these policies into a single, digital portal. Now, they can do more for their customers because they know more – and in today’s market that is a real competitive advantage.”
Through direct data feeds with over 20 life insurance carriers and notifications delivered to a user-friendly digital dashboard, Covr Insights deploys policy monitoring for 13 different policy characteristics to ensure existing coverages are appropriate and managed through the client’s lifetime. Covr Insights is integrated with Covr’s new business platform which provides simple and objective access to carriers for additional sales and coverage options.
“Inforce policy management is the next logical platform for Covr to offer within our broader mission to simplify the business of life insurance for financial institutions” said Kalen. “Life insurance is a valuable asset as part of a financial plan and Covr Insights helps improve the management of these policies throughout the client relationship. We have been helping some of the most respected financial institutions leverage technology to grow their life insurance business – this provides yet another way for them to serve their customers’ needs.”
The Covr Advisor platform connects life insurance products from over 30 major insurers to financial institutions and financial advisors, enabling them to offer insurance protection that is simple, straightforward, cost effective and transparent to their customers. The Covr Consumer platform is a web-based platform which allows customers of banks, credit unions and other financial institutions offer a direct purchase experience to their clients.