Digital supports to help grow your advisor business.
As the world continues to adapt to the ongoing need for physical distancing, the acceleration of digital innovation has been nothing short of remarkable. While email has been a routine part of doing business for a long time, video conferencing has become an essential tool for conducting face-to-face client meetings. And now that client meetings are often a virtual experience, the need to deal with all the typical paperwork remotely has been met by a rapid upsurge of technical solutions. For insurance and investment advisors, these advances are helping to ensure ongoing client satisfaction, by making processes easier and more convenient. Here are some of the latest Manulife digital enhancements that can support your business.
Digital upgrades for investment advisors – a focus on segregated funds and guaranteed interest accounts (GIA)
A one-stop online toolbox for investment advisors is now online. Digital solutions for guaranteed investment products offers easy access to a range of solutions that help support advisors and their clients. Here’s a rundown of what you’ll find at this digital hub:
- E-signatures: When in-person meetings are not an option, e-signature is now available for completing new segregated fund contracts and GIA, using Online Transactions (OLT). Watch this video to learn more. Submitting new segregated fund contract or GIA applications using Online Transactions is very user-friendly, and this step-by-step video takes you through the process.
- DocuSign: Advisors who already have a DocuSign account can continue to use it for any forms, including applications, provided they are submitted with a Certificate of Completion.
- Deposit option through bank bill payments: Clients can now make deposits to their contracts by adding Manulife Investment Seg-GIA as a bill payee in their online banking. This is a fast, secure and flexible way for clients to make lump-sum contributions to their investments. For existing contracts, no paper cheque or signature is needed. You’ll see this as another option in the deposit screen in Online Transactions. Refer to the job aid for details on how to process deposits for new and existing contracts. There’s also a how-to guide for clients with instructions on how to make deposits.
- Fund facts: Digital Fund Facts are now available, giving advisors the option of creating customized booklets for clients based on their investment choices. Available for GIF Select (InvestmentPlus, EstatePlus, and IncomePlus v2.2), MPIP, RetirementPlus, PensionBuilder, RESP, Ideal Signature Select, GIF/GIF Encore and GIF Select (Original). Watch this video to learn more.
The offerings at Digital solutions for guaranteed investment products also include training supports, pricing tools and calculators and COVID-19 work from home supports.
Digital solutions for insurance advisors
While this may be the early stages for digital transformation within the insurance industry, there’s no doubt that electronic processing is here to stay. March 2020 witnessed a 74 per cent year-over-year increase in online retail transactions worldwide.1 While electronic insurance applications have been available since 2016, advisor usage has surged in the past few months, with E-Application uptake moving to 85 per cent from 60 per cent. E-Delivery now accounts for 70 per cent of policies.
Manulife is embracing the digital trend with remarkable adjustments in how applications are handled, from signatures to underwriting. These important upgrades can help keep your insurance business running smoothly:
- For new or in-process business involving your healthiest non-smoking clients, expanded no-fluid underwriting limits:
- Ages 18 to 50, $1,000,001–$2,000,000
- Ages 51 to 60, $1,000,000 or less
- Expanded capabilities for electronic delivery of new insurance applications, including virtual meetings and electronic signatures
- More in-force insurance forms available in an electronic format and fillable online using DocuSign®
- Greater utilization of artificial intelligence for faster application processing, ensuring clients have coverage in place as quickly as possible
Technology can help you meet the expectations of your clients and the standards of our digital world. Most insurance buyers, 68 per cent in fact, want to conduct transactions online.2 They’re also looking for professional advice to help find the best solutions to meet their needs. By adopting digital tools to support your business, you’re creating an opportunity to forge stronger relationships with your clients.
To make sure you’re up to speed with e-processing, check out the dedicated E-Business Solutions page, where you can find all the information you need in one place. Advisors can also visit the E-Business resources tab on the Training Corner (Repsource login required), as well as the COVID-19 portal on AdvisorCafe.
FOR ADVISOR USE ONLY.
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