Phase I – Data Collection & Analysis



Data Collection

The first step in any new business endeavor is to have a candid discussion with the client about their goals and objectives – both short and long term. This removes any areas of grey and ensures that we are all of the same understanding. Once objectives are defined, it is essential to gather the right information out of the gate to ensure the bidding or review process is efficient and on target.

We begin by obtaining authorization forms that will allow us to review in-force contracts and gain a better understanding of the current benefit, coverage and funding arrangements. We collect this information directly from each of the carriers. As necessary, we will also obtain copies of any legal documents or agreements in place. The final step of the data collection process is to gather and scrub the required census data, which we do with a meticulous eye and attention to detail so as to best position the client in the marketplace and prevent any unnecessary delays.


Once we receive the necessary information from the client and carriers, we perform a thorough analysis of each contract and/or risk management tool. We review all aspects of the contract: death benefit, premium, possible hidden costs, cash value accumulation, ownership arrangements, and potential tax issues. We take this analysis along with the defined objectives and provide the client with a comprehensive audit outlining the important features of and potential gaps associated with each existing contract and their respective funding arrangement.