Turning legal requirements into interactive website features: Part 1

Introduction by the Product Manager: Life Insurance Illustrations

Whole life insurance is arguably the most important product in life insurance. And when you sell it, you have to provide legally mandated documentation to the customer, called an illustration; but illustrations are complex documents that are often not easy to understand. Even professionals have trouble understanding illustrations, some of which can be up to 20 pages long. They’re usually a PDF, and look something like this:

Our Coverpath products aim to rebuild legacy insurance systems. We wanted our Coverpath customers who buy Whole Life insurance to have an interactive explanation of the benefits that helped customers and advisors dig into and actually understand the benefits of Whole Life Insurance.

So we decided to innovate.

The end result

Our product and design team interviewed advisors and customers, and created a plan for the Visual Sales Tool for Whole Life Insurance: An online interactive webpage that was easy to understand, and even fun to use:

This article continues in our next post by Srishti, the software engineer who built the new feature. You can read it here: https://medium.com/haven-life/understanding-and-visualizing-life-insurance-illustrations-8f4eba6cafe0