Thoughts on WinFlex?

[dude123]

What is the difference between Compulife and WinFlex? Which is better? What is the best application for generating illustrations from multiple carriers? How much does it cost?

Anyone else just use a free quote generator to get a ballpark and then just go to each site for the real deal????

Thanks!

 

[dgoldenz]

We used to use Winflex but stopped because of we have too many carriers and figuring out how to use each software and updates were too much of a hassle, but Winflex as I recall is mainly for running individual carrier illustrations, while Compulife is better for running a spreadsheet that shows multiple carriers or term periods next to each other on a spreadsheet. We've been using Compulife for years and they're always quick to respond to any problems and it's very easy to use.

 

[insuranceexec]

What is the difference between Compulife and WinFlex? Which is better? What is the best application for generating illustrations from multiple carriers? How much does it cost?

Anyone else just use a free quote generator to get a ballpark and then just go to each site for the real deal????

Thanks!

They are both good programs. WinFlex gives you the ability to run actual quotes with substandard ratings, where it is my understanding that compulife does not.

I am also told that WinFlex updates their software daily.

I do know that the illustrations that are generated off of the WinFlex site is sufficient to send into the company for final placement of the contract.

Please correct me if I am wrong with respect to Compulife!

Check with your marketing company as they should provide a quoting platform for you. If they do not get a different marketing company. I hope this helps.........


P.S. I use WinFlex and have only used Compulife a couple of times............. I also give free use of Winflex to all of my agents. This is my disclaimer...........LOL

 

[Jeff]

They are both good programs. WinFlex gives you the ability to run actual quotes with substandard ratings, where it is my understanding that compulife does not.

I am also told that WinFlex updates their software daily.

I do know that the illustrations that are generated off of the WinFlex site is sufficient to send into the company for final placement of the contract.

Please correct me if I am wrong with respect to Compulife!

Check with your marketing company as they should provide a quoting platform for you. If they do not get a different marketing company. I hope this helps.........


P.S. I use WinFlex and have only used Compulife a couple of times............. I also give free use of Winflex to all of my agents. This is my disclaimer...........LOL

Isn't Winflex free to everyone???

 

[insuranceexec]

Isn't Winflex free to everyone???

Not for the full program.

 

[Marpol]

First of all you would not use winflex....you would use winflexweb.....it integrates directly with the carrier software on the back end so never need updating. It produces 100% NAIC compliant illustrations. Because it is generated from the carriers own software they are aceptable for delivery in all cases. They also produce true Term illustrations. Winflex has the ability to compare and do basic spreadsheeting. Ebix has a side program called VitalTerm that is comprable to Compulife....but to generate an actual compliant illustration you need to either use the cariers software or winflex. Winflex if free to all agents through your broker...althouhg you will be restricted to the companies that your broker is contracted with.

The down side of winflex is that it can be hard to use. It is really desined for someone who knows what they are doing. Let me give you an example most carriers have a minimum of 2-5 UL products alone.....your broker my only show you one but there are more then most agents think....some are only for conversion, some are for short pays, some are Guaranteed and some are current assumption. The problem with winflex is it assumes you know what your doing so it does not give you much help. That all being said I have spent hours on winflex running illustrations.....without it i would not be able to do my job.

If you have any questions about winflex don't hesitate to ask

 

[dude123]

Marpol (or anyone else who has an opinion), I can't PM yet, since I only have 1 post, but I had a couple follow up questions...

1) Is there any alternative to WinFlex Web? (besides just going to go each co's website to run an official illustration)

2) In general does the broker/agent community like WinFlex Web or is there a sense that the program is inferior, etc?

3) Is the need for an "illustration" going away, like in term when a simple quote is sufficient?

4) Are carriers making a push for another program besides WinFlex Web? (either homegrown or something like an open source platform that would be cheaper for them)?

Appreciate your time. Thanks for all the posts!
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[insuranceexec]

Marpol (or anyone else who has an opinion), I can't PM yet, since I only have 1 post, but I had a couple follow up questions...

1) Is there any alternative to WinFlex Web? (besides just going to go each co's website to run an official illustration)

2) In general does the broker/agent community like WinFlex Web or is there a sense that the program is inferior, etc?

3) Is the need for an "illustration" going away, like in term when a simple quote is sufficient?

4) Are carriers making a push for another program besides WinFlex Web? (either homegrown or something like an open source platform that would be cheaper for them)?

Appreciate your time. Thanks for all the posts!
- - - - - - - - - - - - - - - - - -

As Marpol has explained it is a good product. Your marketing company should have access to a quoting platform of some sort.

The problem with WinFlexWEB is that it will only allow you to quote companies you are contracted with.

This can be a problem especially when you have people buying on price, and there is no guarantee that you will be contracted, therefore having the quoting ability, of the lowest priced company.

I personally pay for the program that gives my agents access to all of the companies, and also opens up several additional programs.

I personally think the program is easy to use, but then again I have used it for a while now. It is just like anything else "It takes some tinkering."

 

[Marpol]

1) Is there any alternative to WinFlex Web? (besides just going to go each co's website to run an official illustration).

Not that i know of....but there maybe

2) In general does the broker/agent community like WinFlex Web or is there a sense that the program is inferior, etc?

It is not that it is inferior or not. Wenflex web is almost a portal to the carriers illustration engine. If there engine sucks (like some do) then when you run that carrier or product it can be challenging.


3) Is the need for an "illustration" going away, like in term when a simple quote is sufficient?

No. Don't forget that even if you have software that spreadsheet your term quotes take a look at the bottom of the page....it will say "FOR AGENT USE ONLY...these are examples and do not replace a full carrier illustration...." or something like that.

4) Are carriers making a push for another program besides WinFlex Web? (either homegrown or something like an open source platform that would be cheaper for them)?

Let me explain...there are companies that create illustration programs for carriers. Ebix is one of those (Ebix makes winflex). The standalown Winflex is one of those programs. Carriers can create there own internal formulas give them to Ebix and winflex will then suport that carriers illustrations. Winflex is a stand alone system on your computer. It requires updates ect... from the carrier. There are other companies including the carriers themselve that create software for illustrations.

WINFLEXWEB is not one of the programs. WINFLEXWEB is basicly a standerdized interface to the carriers illustration engine (the actual program that generates the numbers). Winflexweb then takes the output and reformats it and give it to you. So it never needs updating because it IS basicly the carriers software on the back end.

A few problems with winflexweb is that it is web based....which has it pros and cos. The other problem is that not ALL carriers use them so there are still carriers that i have to download there software on my computer and continusly keep it updated (this is why we rarly alow agents direct access to the carrier software...sometimes we are not alowed to give it out. Why you ask....because its a liability....if an agent downloads the software and uses it a month later the rate will be wrong and the illustrations will be wrong. We update those systems daly....most agents don't...and with winflexweb you never have to update).


As far as i know there is no other software that does what Winflexweb. If there is i would love to hear about it.

I know this is a little long winded but hope it helps.

 

[insuranceexec]

1) Is there any alternative to WinFlex Web? (besides just going to go each co's website to run an official illustration).

Not that i know of....but there maybe

2) In general does the broker/agent community like WinFlex Web or is there a sense that the program is inferior, etc?

It is not that it is inferior or not. Wenflex web is almost a portal to the carriers illustration engine. If there engine sucks (like some do) then when you run that carrier or product it can be challenging.


3) Is the need for an "illustration" going away, like in term when a simple quote is sufficient?

No. Don't forget that even if you have software that spreadsheet your term quotes take a look at the bottom of the page....it will say "FOR AGENT USE ONLY...these are examples and do not replace a full carrier illustration...." or something like that.

4) Are carriers making a push for another program besides WinFlex Web? (either homegrown or something like an open source platform that would be cheaper for them)?

Let me explain...there are companies that create illustration programs for carriers. Ebix is one of those (Ebix makes winflex). The standalown Winflex is one of those programs. Carriers can create there own internal formulas give them to Ebix and winflex will then suport that carriers illustrations. Winflex is a stand alone system on your computer. It requires updates ect... from the carrier. There are other companies including the carriers themselve that create software for illustrations.

WINFLEXWEB is not one of the programs. WINFLEXWEB is basicly a standerdized interface to the carriers illustration engine (the actual program that generates the numbers). Winflexweb then takes the output and reformats it and give it to you. So it never needs updating because it IS basicly the carriers software on the back end.

A few problems with winflexweb is that it is web based....which has it pros and cos. The other problem is that not ALL carriers use them so there are still carriers that i have to download there software on my computer and continusly keep it updated (this is why we rarly alow agents direct access to the carrier software...sometimes we are not alowed to give it out. Why you ask....because its a liability....if an agent downloads the software and uses it a month later the rate will be wrong and the illustrations will be wrong. We update those systems daly....most agents don't...and with winflexweb you never have to update).


As far as i know there is no other software that does what Winflexweb. If there is i would love to hear about it.

I know this is a little long winded but hope it helps.

Great post and excellent synopsis!