If Your Firm Manufactures Annuities

BENEFITS OF ANNUITYNET SYSTEM FOR MANUFACTURERS

AnnuityNet can help manufacturers decrease costs and increase market share within the context of your existing infrastructure. Our systems are rapidly becoming the industry standard for both manufacturers and distributors. We've listed some of the major benefits of the AnnuityNet program below - for more details on any particular benefit, just click, or scroll down the page.

• Reduced Administrative Costs to Open New Accounts
• Dramatic Reduction in Post-Sale Administrative Costs
• Extensive Management Reporting Systems
• Simplified Interface with Distributors
• Faster New Product Rollout


• Increased Market Share

REDUCED ADMINISTRATIVE COSTS TO OPEN NEW ACCOUNTS

AnnuityNet system results in far fewer "Not in Good order" applications, and thus lessens administrative contact between manufacturer and distributor:

• We create intelligent wizards that guide the sales rep through the product selection and configuration process with business logic to incorporate compliance with both product and distributor rules.

• Product and fund availability
• Riders available

• Account registration rules

• Automatically checks that selling rep has proper insurance company appointment and state license.
• Makes sure that all required forms are generated and prepopulated for any particular transaction; for instance, additional forms required by EFT will be automatically generated by system.
• Significant Decrease in application time.
• Provides onscreen help.
• Feeds applications directly into carrier system in electronic form.

DRAMATIC REDUCTION IN POST-SALE ADMINISTRATIVE COSTS

• Because our platform was built from scratch, we have been able to reengineer the process and utilize technology to eliminate nearly all manual processes in the back office.
• Eliminates time and errors associated with re-keying, because data is transmitted electronically rather than by paper or phone. Applications flow directly into admin system, eliminating numerous processing and reentry steps.
• Post sale communications are electronic, saving postal and paper expense.
• Online servicing can result in significant decrease in phone calls to service departments.

EXTENSIVE MANAGEMENT REPORTING SYSTEMS

• Indicates sales trends among distributors, making it easy to evaluate distributor relationships.
• Reports provide wide variety of information useful in sales, marketing, HR, tax, and other areas.
• Information can serve as easily accessed database for compliance audits.
• Online servicing can result in significant decrease in phone calls to service departments.
• Information from management console is provided at both operational and management levels.
• System indicates pending applications and the aging on those apps, including a chart by application venue.
• System graphs total deposits by week, month, quarter, and cumulatively.
• Analysis of number and total amount of withdrawals, surrenders, fund transfers, and non-financial contract changes.
• Access to reports can be limited through multi-level permission system.
• Reports on total death benefit exposure help to project future costs.

SIMPLIFIED INTERFACE WITH DISTRIBUTORS

• Data transmission is through AnnuityNet's servicing platform or through NSCC. (If primary transmission is through NSCC, AN will supplement to provide non-financial information such as beneficiary changes.)
• Data is provided in a consistent format for all distributors.
• Eliminate the need for time-consuming and expensive custom feeds to distributors.

FASTER NEW PRODUCT ROLLOUT

• Our system was designed for electronic commerce, so all processes are designed for easy modification of system to add new products. We're not burdened with the regression testing that a carrier with a legacy system must undergo before releasing a new product.
• Online distribution of new product info is faster than paper printing and distribution.
• Our Internet sites and eCommerce platforms can quickly and easily be modified to add new products.
• New Products can be rolled out in as little as two weeks.
• Complete customized eCommerce platforms can be created in as little as 60 days.

INCREASED MARKET SHARE

• We're establishing industry standards. The early adopters of those standards will have an advantage in gaining market share.
• Reps will prefer selling annuities utilizing the AnnuityNet system, thus increasing sales of those products serviced by AnnuityNet.
• AN system makes it faster and easier to establish new distributor relationships.
• AnnuityNet offers its multi-carrier AnnuityNet Works™ platform to automate and streamline your annuity sales operations. To learn more about the platform, click here.