Clients can consolidate all their policies in one place. Steps mentioned below will help him add additional policies to his policy wallet.
Policyholders need to manually enter policy information such as Insurance provider, Policy number, payment frequency (monthly, annual etc) effective date, expiry date, premium amount.
This provides a cross-sale opportunity to the agent, and will also contribute to a better, more comprehensive understanding of a client’s portfolio. Clients also benefit from having one central place to manage all their policies and reference insurance information. Fewer things get forgotten, fewer bills go unpaid, fewer policies get canceled when coverage information is all available at one place.