The Rising Stars of the insurance and investment industries — Software that brings clarity to the sales processpar Kate McCaffery | April 24 2018 09:00AM
Chief Technology Officer and Founder
Life Design Analysis Inc.
Charlie Conron wants to change the way insurance products are researched, presented and sold to consumers. Where many clients are confused by the products life agents offer, Conron wants to provide clarity by offering those agents a way to quickly turn the product and carrier comparison exercise into accessible visual presentations.
He’s done this and more by combining the ability to instantly create presentation materials and compliance components (think client letters and needs analysis) with rate comparison, customer relationship management (CRM) and policy management into one Life Design Analysis (LDA) software.
Those using Conron’s illustration solution say LDA’s founder and chief technology officer and his team have influenced sales more than formal mentorship. “I have compiled more whole life insurance in the first six months of implementing LDA than in my total 14 years prior,” says Ryan King, an Edmonton-based advisor.
“Our software is really designed for the consumer,” says Conron who is based in London, Ontario. “About 88 per cent of insurance purchasers are confused by the product. We use data visualization to help communicate the different options that they have.”
Conron says a straight comparison of available products is what consumers have come to expect when making purchase decisions. Going forward, his team is working on e-app integration with the software’s CRM functions to further enhance that buying experience.
“E-apps are a huge focus for us. When you’re presenting with our software, showing clients their options and a client says ‘okay, I want to buy that now,’ which they’re conditioned to do once they compare, we want to link to an e-app, saving the advisor even more time. Right now the average time to complete an e-application is over 25 minutes. We believe we can cut that in half, at least.”
Conron was recruited to the insurance industry by his late stepfather, Larry Kinlin, a 50+ year producer, to see what technology could do for his practice. Working with Kinlin, using LDA, the pair successfully tripled revenue in less than two years. Following this success, they decided to transform LDA into a web-based service platform which launched in 2014. Today over 2,000 advisors are using the software.