Life Insurance Monitor2016 Gold Medal Winners

Corporate Insight provides competitive intelligence, consulting and user experience research to the nation'sleading financial, health and education institutions. For more than two decades, the firm has tracked technologicaldevelopments in the end-user online experience, identifying best practices in online financial services andinvesting, mobile finance, social media and other emerging areas. Corporate Insight offers subscription-basedMonitor services in 14 verticals, including banking, healthcare and alumni relations, along with custom research,digital capabilities audits, special studies, user research and other consulting services. The firm helps its clients—including 70% of the financial services firms in the Fortune 500—to remain at the forefront of industry trends andimprove their competitive position.

About CI

2Connect with CI

Corporate Insight is pleased to introduce the results of our fifth annual Life Insurance Monitor Awards. Webenchmark the life insurance industry across six critical categories. Within each of these categories, we awardMonitor Awards in gold, silver and bronze assessing how firms meet our criteria.

As in past years, the Gold Medal is reserved for exceptionally valuable services. We award the Silver Medal tofeatures with similar value that lack some of the outstanding attributes and functions of the best offerings. TheBronze Medal recognizes firms with an excellent or unique service that do not meet the highest standards in therespective category.

At the conclusion of each year, Corporate Insight looks back and reviews the top websites across the life insurancesphere. This year’s Life Insurance Monitor Awards looks at six categories—life insurance needs calculators, term lifeinsurance quote tools, client mobile capabilities, private site account management services, book of businessofferings and advisor illustration systems—and assigns gold, silver and bronze medals to the top performers ineach category.

Life Insurance Monitor Awards

3Connect with CI

Medal Chart

4Connect with CI

Firm Medal Count

AXA

Lincoln

MetLife

Nationwide

Prudential

State Farm

USAA

Category Overview

Promote Your Firm’s 2016 Monitor Awards!Corporate Insight is happy to assist all award-winning firms in promoting their honors. For more

information and for examples of past promotions, contact us at pr@corporateinsight.com.

Needs Calculators

Term Quote Tools

Client Mobile Resources

Client Management Services

Book of Business Offerings

Advisor Illustration Systems

Acquiring a needs estimate is often the first step prospects undertake when looking to buy life insurance. Firmsshould provide a life insurance needs calculator that considers, at a minimum, prospects’ current income andcoverage amount needed to ensure that they select an appropriate policy value. As every life insurance firm offersa needs calculator, exceptional calculators include a detailed summary of assumptions, helping prospects tounderstand how their recommendations are calculated and what key factors could raise or lower their estimatedmonthly premiums.

Life Insurance Needs Calculators

6© CORPORATE INSIGHT

USAA earns the gold medal in this category due to its comprehensive Life InsuranceCalculator, well-organized results page and streamlined How Much Life Insurance Do INeed? tool. The detailed Life Insurance Calculator lets prospects calculate their needsbased on as many as eight factors and choose whether to include aspects such asmortgages and survivors’ college education, increasing prospects’ ability to tailor theresults to their custom needs.

Firms should allow prospects to retrieve a quote quickly for term life insurance costs. It is key that prospects bearmed with this information and equipped with the necessary tools for moving forward in the acquisition process.The ideal term life insurance quote notes multiple premium pricing models (e.g., monthly and annually) witheducational details that ensure prospects understand the rationale behind the required inputs and resultingquote. For our inaugural evaluation of term quote tools, we analyzed not only how firms present and promotethese tools but also how clients can progress with the extent of information and options provided.

Term Quote Tools

7© CORPORATE INSIGHT

State Farm excels in this category by offering the most detailed quotetool among our coverage set, particularly standing out for itseducational details, help resources and seamless navigation. StateFarm’s quote tool provides the full breadth of information necessaryto initiate the sales process.

Due to the proliferation of mobile services across the full spectrum of financial services, we examined client mobileresources as an award category for the first time in 2016. For our assessment, we took on the persona of a clientused to conducting business on the go who is looking to view his account, change profile information and see whatother transactions he can view on a mobile device. Firms can provide this information via a mobile-friendly site,responsive site or mobile app. We analyzed each of those capabilities to consider the differing approaches taken byindividual firms, weighing the importance of mobile sites over mobile apps.

Client Mobile Resources

8© CORPORATE INSIGHT

USAA’s mobile app and mobile site functionalities stand above the rest, earning the firma gold medal in the category. The firm not only ensures clients can pay premiums, editprofile settings and view account information on a mobile device but also providesclients with top-notch security and help resources.

A key aspect of any private life insurance website is the client’s ability to manage their account and conducttransactions online, with bill pay being the most important transaction. Firms should provide a range of servicesand transactions regardless of policy type and allow clients to update personal details online. The most convenientservices include the ability to add or edit beneficiary information, change payment frequency, update mailingaddress and update other personal details like account owner name.

Client Management Services

9© CORPORATE INSIGHT

AXA achieves a gold medal in this category for the third year running for continuing tooffer the widest range of transactions and policy services in our coverage group hostedon a responsive, attractive interface. The firm particularly stands out for its findabletransactions, as clients benefit from multiple points of access directly from the privatesite homepage.

Due to the primacy of an advisor’s book of business, we instituted book of business offerings as an award categoryfor the first time in 2016. As we reviewed the book of business on each advisor site, we took on the persona of anadvisor looking for an overview of in-force contracts, for an update on any pending contracts, to review a client’scontract information or to perform a transaction on a client’s behalf. Firms can provide this information in a bookof business that displays data through a table or in sections and offers detailed information on specific accounts.Advisors utilize their book of business as a key reference point and should therefore be able to review informationon in-force and pending contracts immediately upon login.

Advisor Book of Business Offerings

10© CORPORATE INSIGHT

Lincoln wins the gold medal for its book of business’s high level ofcustomization, numerous supportive tools and features, satisfyingdepth of information and noteworthy homepage access.

Illustration tools are fundamental because they allow advisors to produce necessary sales ledgers. With theseledgers, advisors can help prospects ascertain the impact of a life insurance policy through details on its benefits,values, performance and fees. Firms must arm advisors with illustration tools that are easy to navigate andunderstand. Illustration tools should be clearly organized for ease of input with clarity surrounding requiredinformation. Our evaluation focuses on the advisor’s ability to produce a helpful ledger.

Advisor Illustration Systems

11© CORPORATE INSIGHT

MetLife is awarded its fourth straight gold medal in this category forcontinuing to provide a comprehensive FireLight-powered advisorillustration system. In addition to allowing advisors to produce aquality sales ledger, the system features comprehensive helpresources. Advisors are immediately greeted with a list of recentupdates and enhancements on the illustration home screen, as well.

12Connect with CI

Analyst

Life Insurance and Annuities

646-751-6968

jkagan@corporateinsight.com

Joan Kagan

Contact Us