I started using your Compulife quotation system in 1991, and it really turned my practice around. I was always proud to be a broker, and felt it was important to help my clients by utilizing the widest possible range of companies to better serve their needs at the most affordable price, but I didn’t realize how much I was missing until Compulife gave me the ability to show my clients a full, unbiased survey of the entire Canadian brokerage market in an instant survey, in front of their eyes! This valuable tool truly transformed the way I have done business over the years.
How have my clients benefited? Many come to me for the first time, often seeking a second opinion, having only seen a quote from a single company, or perhaps two or three, from other brokers who may have felt that they were doing an adequate job. However, when they see the full marketplace available to them, and appreciate the fact that we are engaged in a collaborative process in which they are actively involved, they love it. It truly takes “is your rate the best?” completely out of the discussion, and focuses instead on how much insurance is enough, and how may we best obtain it. Needless to say, they quickly become clients, and generate a good deal of repeat business and referrals!
I have enjoyed the built-in tools, especially “Income from Capital Analysis.” Since I’ve used this from way back in the days of DOS, I like the screen where you quickly input raw data, though some brokers may prefer the consumer “walk-through.” Every other utility I’ve used generates a needs total that the consumer doesn’t fully understand, or relate to, and there remains an element of denial to overcome. Being able to show a simple, 4-column year-by-year result really makes an impact, and has helped a great many of my clients understand and obtain the amount of insurance they ought to have, instead of what they thought they should have.
The multiple-class environment of preferred rates has made our guidance as brokers more appreciated than ever. Indeed, when clients see the size of the marketplace and come to appreciate that there are sometimes subtle underwriting differences between companies in respect to specific health conditions and occupations/avocations, it highlights more than ever our value as brokers who help guide them through the process and obtain the best value for their money.
In helping me cut my workload, the Compulife system has been invaluable in separating Regular Smokers from Preferred Smokers and Occasional Pipe/Cigar smokers and even to locate Non-Smoker “Headstart” rates for Smokers! I remember how hard it was to find this information manually, and now you’ve made it even easier with the new Health Analyzer option, which is continually adding more and more screening options. Plus, the new Minimum T-100 premium survey has simplified yet one more process that formerly was very labor-intensive. Just when I think you can’t improve the program any further, you find a way to surprise me. Company reps get a stunned look on their faces when I tell them that “I hate their software.” Even when I need to know a specific rate for one company, I use your software instead of theirs, and I tell them so. It is so much faster and easier, especially when obtaining a rate for multiple lives with spousal discount. After using Compulife for so many years, I find the proprietary company programs very slow and cumbersome, and only use them for specific situations when I absolutely must.
Bob, in summary, your Compulife software is very consumer-friendly; over the past 13 years it has helped me to locate and obtain the best rates for my clients, while helping me to educate them at the same time. All the while, it has streamlined my workload and proven invaluable in helping me to operate a successful life insurance practice for these many years. Many thanks for your good work, Bob. Well done!