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Introduction to Using Trail for Insurance
Introduction to Using Trail for Insurance

Understanding the process to go through

Chuck Slogrove avatar
Written by Chuck Slogrove
Updated over a week ago

At Trail we understand that as an adviser, you're busy. For this reason, we have created the new insurance process with the mindset that we need to help you save time, so you can spend your time getting more leads, having more time for your existing clients, or knocking off early to head to the beach.

In fact, we have developed this process so you can go from prospect to receiving commission with only one meeting.

How we envisioned the use of Trail for insurance

Though we have made Trail flexible to work in different ways for advisers, the process we had in mind when creating the software is:

Before client meeting:

1. Send your client a link to the Client Portal to complete their fact find and needs analysis
2. Once they have completed this, familiarise yourself with their situation

During client meeting:

3. Adjust your client's recommended cover
4. Produce the client's Statement of Advice

After client meeting:

5. Send client the full application link if they are sending an application to Partner's Life
6. Once the insurance in confirmed, update the client's policy information and 'win' the Opportunity

However, we do understand that advisers work differently, and some like to have multiple meetings with their clients and complete the fact find/needs analysis process in person. For this reason, we have made the process flexible enough to allow advisers to use it differently.

The Trail insurance process

The above process can be broken into 7 different sections on Trail:

  • Gather information

  • Review existing cover

  • Suggested cover

  • Provider research

  • Statement of Advice

  • Application policy

Gather information

This section involves getting your client's fact find and needs analysis information to understand their current situation and their insurance needs. Once you have created the Opportunity for the client, you'll want to send them a link to complete the fact find at home. This means that you'll have already have a lot of information about your clients and you can start doing some research before you even meet with them. To read more about how the gather information section works, click here.

Review existing cover

From here, you can add and edit the existing cover that your client has. You can also select which cover your client should have replaced, and upload any relevant policy documents. To read more about this section, click here.

Suggested cover

Based on your client's fact find and needs analysis, Trail calculates an estimate of the amount of cover that the client needs and the premium they will pay for this cover. From here, you can make changes to the cover, and then go through the recommended cover with the client and make necessary variations. To learn more about how the cover portal works, read this article.

Provider research

From the provider research section, you can add reasons for suggesting a specific provider to your client. You can also upload provider documents or a quote if you have one. To learn more about how this works, read this article.

Statement of Advice

The Statement of Advice section of the insurance application editor allows you to create the Statement of Advice for your client. This is based off a template created by you, but you can edit it specifically for each client. To understand more about how the Statement of Advice works, read this.

Application policy

This section allows you to update the insurance policy that clients are going to have moving forward, as well as complete the Opportunity. This article will explain how this section works.

Streamlining your advice using the Insurance Settings

As we know that advisers all work in different ways, we knew that when creating the software, it had to be customisable to an extent to help you streamline your business. Your Insurance Settings allow you to have most of the process ready to go, so there are only small changes you need to make for each insurance application.

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