Vantis Life introduces new digital platform for agents

[Brian Anderson]

Brian Anderson submitted a new article

Vantis Life introduces new digital platform for agents

Penn Mutual subsidiary hoping to reverse the trend of declining life insurance ownership among mass-market customers with new product suite, powered by accelerated underwriting, enabling distributors to offer fast, efficient access to more people.

Continue reading the Original Article.

 

[MosesNewmanNAAIP]

I had very fruitful meetings with Vantis Life. N.A.A.I.P. is looking forward to having more Vantis agents use our platform to link to Vantis' online enrollment portal.

Go Vantis.

 

[JRoot]

FYI - this is only available through select entities, mostly banks. No BGAs or independent agents can write this.

 

[MosesNewmanNAAIP]

Yes, that is what is happening. Vantis is putting N.A.A.I.P. in touch with the bank and we are setting up the bank employees with their individual websites which make it easy to link to Vantis products. It is a win-win.

 

[Newby]

FYI - this is only available through select entities, mostly banks. No BGAs or independent agents can write this.

So Vantis has become the enemy?

Come on now Vantis. Play nice. You know you want to triple your sales.

 

[NewbieNewbie]

Been dealing with Lexus/Nexus life risk classifier for almost a year as a captive. It is damn near worthless for an agent but sound for a company Yes you can get up to 1mm or 500k without an exam with a good LRC.

So who has a good LRC. Precisely the people who have no problem getting an exam.

Who has a crappy one? The ones who will never paramedic.

Huge correlation. While not thrilled with the change I understand the reason, and believe it will become more prevelant in the next 12 to 18 months. Paticualarly on term. Not on FE. The data is sound.

Take 2 50 male, nontobacco, no meds, good build, did an exam, for 1mm. Both perfect blood work. Essentially the same guy right?

Guy 1
Married
Homeowner
Great credit
Same job 10 years
Same home 10 years

Guy 2
Single
Renter
Poor credit
3 Jobs the past 5 years
3 residents the past 5 years

Now while they look the same medically initially they are not (on average, exceptions to everything), Guy 1 is far more desirable. This is the future of underwriting for life (particularly term). I hate it but understand why companies do it. Ask a P and C agent about it. Been used for years.

 

[Tahoe Ray]

Been dealing with Lexus/Nexus life risk classifier for almost a year as a captive. It is damn near worthless for an agent but sound for a company Yes you can get up to 1mm or 500k without an exam with a good LRC.

So who has a good LRC. Precisely the people who have no problem getting an exam.

Who has a crappy one? The ones who will never paramedic.

Huge correlation. While not thrilled with the change I understand the reason, and believe it will become more prevelant in the next 12 to 18 months. Paticualarly on term. Not on FE. The data is sound.

Take 2 50 male, nontobacco, no meds, good build, did an exam, for 1mm. Both perfect blood work. Essentially the same guy right?

Guy 1
Married
Homeowner
Great credit
Same job 10 years
Same home 10 years

Guy 2
Single
Renter
Poor credit
3 Jobs the past 5 years
3 residents the past 5 years

Now while they look the same medically initially they are not (on average, exceptions to everything), Guy 1 is far more desirable. This is the future of underwriting for life (particularly term). I hate it but understand why companies do it. Ask a P and C agent about it. Been used for years.

Very much agree...

Had a guy with great income/credit but had moved 3 times in 15 years, once from AZ to CA, each time buying and selling a home.

1st carrier: S+. Talked to head underwriter, nothing they could do once the black box had spoken.

2nd carrier: P+.

Guess which one uses LexisNexis.