Sun Life Taps Equisoft to Power Next-Gen Illustrations Application

The new application will allow advisors to easily quote and illustrate advanced products, such as variable UL, and will also provide embedded sales strategies.

(Sun Life Building in Montreal. Image credit: Steve Brandon.)

Equisoft (Montreal) has announced that it has partnered with Sun Life Assurance Company of Canada (Kitchener-Waterloo, Ontario) Equisoft (Ambler, Pa.) to launch the Sun Life Illustrations application across Sun Life’s advisor network, using Equisoft’s InsuranceElements illustrations system.

Annalee Moore, AVP of Business Management Distribution Services, Sun Life Financial Canada.

Annalee Moore, AVP of Business Management Distribution Services, Sun Life Financial Canada.

Sun Life’s application was first launched in 2015 to Canadian insurance and financial advisors, in both online and disconnected modes, Equisoft reports. The new version to be released in December 2016 will allow advisors to easily quote and illustrate advanced Sun Life products, such as variable Universal Life, and will also provide embedded sales strategies, according to the vendor. Sales strategies enable advisors to prepare needs based illustrations to show how insurance can be used to address a specific situation, and can compare to an alternative investment within a few clicks, an EquisSoft statement explains.

“In 2015, Sun Life had launched its Term and Guaranteed Income Fund products on the InsuranceElements platform,” comments Luis Romero, Founder and CEO of Equisoft. “Our experts have worked closely with Sun Life this year to adapt the configuration which is now 100 percent compliant with Canada’s new tax regulations. We are very proud to have been selected by Sun Life for this important mandate, and to contribute to launching their new products.”

Three Years of Close Collaboration

The updates being introduced in December are a result of three years of close collaboration between the Sun Life team and the Equisoft team, according Annalee Moore, AVP of Business Management Distribution Services, Sun Life Financial Canada. “The consistent intuitive design should be appealing to Canadian advisors and will deliver a fully functional illustration system on the web, mobile and desktop giving advisors more flexibility and functionality.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803.

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