As much as we are all focused on finishing strong this year, taking a look ahead to next year is an essential step in making sure we don't miss a beat when the calendar flips to January.

As part of that look forward, I reviewed a new simplified issue platform from MetLife this week, and think that they may be on to something.  Short application, no exam, the same product pricing as their fully underwritten product (almost) and a phone interview with the home office as the primary source of underwriting information.

The one problem?  It is not available in all 50 states yet, and California is still on the outside looking in.  If that's the case, why am I talking about it?  A few reasons:  It will be available in California (Along with many additional states), perhaps as early as the first quarter of 2011.  I also think processes like this are going to be a critical aspect of all of our businesses in the very near future.  Lastly, I think this type of development is great, but it is also coming from the wrong source.

One of the issues with this type of program is that it is limited to the carrier that came up with it, and as such, requires producers to learn a new way of processing an application.  Not a big deal when you are thinking about one carrier, but perhaps a big problem if you are talking about a dozen, each with their own take on how a more streamlined process should operate.  The good news is that there is another way, and it is already here.

There are at least two independent intermediaries who have developed new technology platforms that allow for a simplified application process.  These processes already integrate with carriers like MetLife that have a simplified underwriting program (Note the distinction - application process versus underwriting process.  It's important.).  The benefit to all of us is that the application process they have developed is more or less the same across all carriers.  No need to learn a dozen separate processes to take advantage of the new technology.

The next obvious question is "why aren't we using these if they are already available?"  Bottom line?  It's too early.  As much as these are universal platforms that all carriers can use, not all of them do.  Carrier adoption is slow in coming, but it is coming.  Also, consider the typical life agent.  While some of us are very tech savvy, there are a large number who really are not, so field adoption is going to take some time as well.

That said, the writing is on the wall on this one - the end of the paper application is near.  The good news is that there are some pretty large opportunities to make term insurance a more profitable aspect of all of our businesses by embracing these technologies as they develop.  The increase in efficiency based on more complete applications, and not having to read some of your printing (sorry, but it's true!) will also be a huge benefit across all product types.  Perhaps the best news of all?  You can sit back and relax on this while we continue to track it.  We'll let you know when the time is right to make the move away from paper.

Enjoy your weekend.