Toward the end of 2018, we shared with you a quick overview of the legislative changes made in New York regarding the “best interest” standard for fiduciaries that included a guide to help you determine what steps to take to prepare for said changes. Since then, Nevada state legislators have passed a law that requires all brokers and advisors to be held accountable to a strict fiduciary standard.

‘Tis the season of giving! Corporate philanthropy is engrained in so many company’s cultures, and our culture at Proformex is no different. One of our core values is being “purpose-driven” in every sense of the word. In addition to being ambitious professionally, our team is always seeking out opportunities to make a difference in the lives of others both in our work and our community outreach efforts.

Financial planning firm invests in advanced technology for in force policy management.

The process of researching, purchasing and maintaining a life insurance policy can be quite tedious and complex, but you don’t have to tackle it alone. Take a look at this handy guide put together by our friends at Forbes that walks you through the next steps.

Monitoring inforce life insurance performance relative to the original performance expectations can be a difficult task for agents, advisors, trustees and fiduciaries trying to protect their clients’ interests. Proformex was created to make InForce Policy Management easy. Our intuitive platform helps you monitor, analyze and manage the performance of your clients’ life insurance policies in a single, distribution-agnostic platform.

The Crisis

Earlier this year, The Wall Street Journal published an article, “Universal Life Insurance, a 1980s Sensation, Has Backfired”. The author, Leslie Scism, dives deeply into the ongoing crisis faced by many aging policyowners: a long decline in interest rates has caused their premiums to rise exponentially.

In our Thought Leadership interview session with Jon J. Pinney, Managing Partner of Kohrman, Jackson & Krantz, we discuss the state of the life insurance industry and the growing need for technologies that will help to automate cumbersome tasks and improve efficiencies. The Proformex inforce policy management platform is one of those technologies helping to advance the life insurance industry into a new era, and Mr. Pinney enjoys that the platform provides better transparency to his clients with detailed analytics and reporting. Hear more of his insights in the video below.

Change is coming from coast to coast following the precedent set by the New York State Department of Financial Services (DFS) in July. Are you prepared for the inevitable ripple effect throughout the rest of the US?

Marc Byrnes, Chairman of Oswald Companies, discussed all the ways in which he believes the life insurance industry can improve in this Influencer Interview session. Adopting better technology is one thing he would like to see the industry do more of in coming years. That’s why his company uses Proformex. Our inforce policy management platform helps Oswald Companies to ensure they’re providing the best service to their policyowners while also reducing their fiduciary risk. Listen to more of his expert advice in the video below.

Life Insurance Technology Company Relocates to Larger Office Space

CLEVELAND, Ohio – November 27, 2018 – Proformex, creator of a proactive life insurance policy monitoring platform designed to give insurance agents, advisors and fiduciaries better oversight and visibility into the performance of in force life insurance policies, today announced that will relocate to Downtown Cleveland.