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Proformex: Proactive Policy Management Simplified

Ever-increasing changes and complexity in the insurance landscape have created a need for continuous monitoring of life insurance contracts—gone are the days of purchasing coverage and not monitoring its performance. Nowadays, when policies are not periodically monitored, it can ultimately lead to increased premiums, reduced coverage, or in some cases, complete loss of coverage. Proformex eliminates this “wait-and-see” approach and simplifies the way policies are monitored. Built on patent-pending technology, “Proformex proactively monitors life insurance performance and informs policy owners of potential issues so that corrective measures can be taken,” elucidates Michael D. Pepe, President, Proformex.

Inspired and created with the vision “to provide long-term protection for policy owners and their beneficiaries”, Proformex’s platform caters to the needs of policy owners and insurance agents. On one side, it represents a turn-key solution for fiduciaries, and on the other, it works as a best practice tool for agents and agencies across the country, delivering a better life insurance ownership experience.

“Proformex was built around the needs of the policy owners,” comments Chad Neifer, Partner, Proformex. Unlike most in-house solutions, “we are a client-facing platform which simplifies the reporting process and allows access from anywhere in the world.” Proformex tracks individual policy performance across five key parameters—lapse age, death benefit, premium, crediting rate, and Comdex rating. Moreover, subscribers can onboard an entire block of policies all at once with the same ease as loading individual policies.

The platform has three levels of policy reporting. The first tracks performance compared to stored policy monitoring guidelines. The second adds policy details, premium information, and a year over year annual snapshot of the policy’s performance.

Proformex proactively monitors life insurance performance and informs users of potential issues so corrective measures can be taken


The third includes a coverage assessment, with options for internal policy modification, external product replacement, and a life settlement evaluation. The desired level of reporting can be selected by policy and can be adjusted as needs change throughout the life cycle of the contract.

Proformex’s case studies reveal that many fiduciaries lack the proper support from the agent that sold the policy, “and in some cases the policies are orphaned, meaning that there is no agent at all,” explains Pepe. To help solve this issue, Proformex provides world-class policy management software, independent needs-based policy reporting, and has partnered up with top notch insurance professionals across the country to supply their insight when needed, “which is what makes our platform unique.”

Proformex utilizes its invaluable industry experience to address issues that affect parties on both sides of an insurance contract. Heading into the future, they are focused on further streamlining proactive policy management. Moreover, Proformex’s leadership is looking to expand into new markets to push the industry forward. “We want to change the industry’s mindset from reactive to proactive, and we believe we can do that—one policy at a time,” concludes Pepe.