Columbus, OH,
13:33 PM

Nationwide now offers advisors customized digital annuity product kits

Advisors can provide a custom experience for their clients that only gives them what they need

Often, less is more. Advisors now have the ability to deliver a custom experience for their clients tailored for what they are purchasing. Nationwide’s digital client kits, which are available on select annuity products, also enable advisors to be more agile and responsive because they instantly have access to the materials rather than waiting for a printed kit to arrive by mail.

Traditionally, the printed kit contains detailed information on all the riders and features the product has available. The client might only select one or two features but receives information on all the options which can be overwhelming and confusing. The new digital kit enhances the customer’s experience by enabling the advisor to deliver information specific to the client’s situation.

“No carrier out there offers a digital approach that advisors can customize to meet their client’s needs on an individual basis,” said Eric Henderson, senior vice president of life insurance and annuities at Nationwide. “Each client’s situation is different, and advisors need the right resources from insurance carriers to deliver effective, flexible and timely information that meets their clients’ needs.”

Easier to understand and saves paper

Today’s typical annuity client kit contains multiple brochures that explain all the features and benefits available with the product and can often be 12 to 24 pages for a single brochure.

“Advisors and their clients told us during our research that they don’t always need all of the materials. So we developed this customizable solution so advisors can select specific materials to explain their recommendation to their client,” said Tiffany Grinstead, Nationwide’s vice president of life insurance and annuities marketing. “For example, they can choose literature for the exact death benefit, living benefit and investment choices, instead of giving their clients a death benefit guide that has all four options available in the overall product and every investment choice.”

Helps advisors

Most advisors prefer to integrate the annuity they are offering into their own folder or package of materials. This new approach makes it easier for advisors to present an annuity as part of their own sales process.

“This approach makes us more efficient and more environmentally responsible,” Henderson added. “And because we are emailing these to advisors, they have the option to email it to the client.”

Due to the functionality of this digital tool, Nationwide can quickly identify which firm(s) the advisor is appointed with and the state licensing information they’ve provided Nationwide. This helps cut down on potential errors that can hinder the business submission process. It also makes sure advisors don’t have their applications delayed due to incomplete information.

“It lets us know things like if the advisor needs National Association of Insurance Commissioners (NAIC) training or suitability support,” Henderson said. “We can help advisors get what they need quickly so they can have a seamless process for their clients. Advisors tell us they want to compile exactly what their clients need and present it as part of their materials. Our new digital kits are designed to make it as easy as possible for advisors to share their recommendation with clients.”

The digital client kits are currently available with Nationwide DestinationSM B, Destination Navigator, Destination All American Gold, Destination Freedom +, and Nationwide INCOME Promise Select®. Eventually all Nationwide annuity kits will be available in a digital format.

Advisors can contact their wholesaler for a sample digital kit.

About Nationwide

Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the United States. Nationwide is rated A+ by both A.M. Best and Standard & Poor’s. An industry leader in driving customer-focused innovation, Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit Follow us on Facebook and Twitter.