Inforce Certification - Module 2: Technology

The Inforce Certification provides a comprehensive understanding of the key aspects of life insurance policies once they are in force. This certification covers a range of topics related to policy services, technology, billing, changes, loans, and more. Participants will gain knowledge of how to manage policies post-issue, including understanding policy updates, billing processes, and critical policy changes. The course also includes guidance on the use of technology, such as online portals and software products, and addresses specific policy-related actions like reinstatements, conversions, and surrenders. It will also explore the financial implications of policy loans, collateral assignments, and premium financing. This certification is essential for those involved in life insurance policy administration and advisory services.

Module Overview:

Module 2 – Technology

This module reviews how technology is used in Inforce policy management, including the evolution of online access to policy information. It explains how online portals reduce reliance on call centers and the benefits of 24/7 access for advisors and policy owners. It covers software products that use data feeds for policy information and sales opportunities, the sale of Inforce blocks of business by carriers, and how to determine the company holding a policy.

Learning Objectives

• Understand the role of technology in Inforce policy management.

• Describe the benefits of online portals for advisors and policy owners.

• Recognize the functionality of stand-alone software products for managing policy information.

• Explain how the sale of Inforce blocks of business can impact a policy.

• Understand how to determine the organization that holds an insurance policy.

• Describe the use of electronic signatures in the Inforce process.

COURSE CONTRIBUTORS