CDM Solutions
Save time with the only stand-alone client insurance reporting system on the market.
Melbourne-based CDM Solutions has been operating on a commercial basis for advice practices since August 2022 following an extensive pilot phase over the last eight years during which all elements associated with life insurance policy data downloads and ongoing policy management functionality were thoroughly stress tested.
Adviser and entrepreneur, Katriel Warlow-Shill started out as a project to improve the efficiency of his own practice and its profitability.
Following the extended pilot phase, Warlow-Shill says CDM Solutions now offers a service that is unique in the Australian market, which:
Automatically downloads and updates all life insurance policy data from every active retail insurer three times per week.
Provides up-to-date information directly from insurance providers of any overdue policy premiums.
Offers an instant production of a completely customised policy schedule saving staff, according to CDM Solutions, between five to 30 minutes of their time per policy renewal.
Has the capacity to fully automate multiple client email notifications such as policy renewals with attached policy schedules, birthday congratulations, overdue premium issues etc.
Offers quotation facilities through a partnership with research firm Omnium which will now provide instant quotations for new business as well as for updated quotations on all in-force policies
As of June 2023, 210 practices with over 100000 clients use CDM to manage their in-force insurance book.
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Q and A
What sets your products or services apart from competitors in terms of value and unique features (and any specifics in relation to the provision of Risk Advice)
–Consolidation of all insurance data for advisers in one place.
Can you highlight any key benefits or advantages that Risk Advisers or support staff can expect when working with your company?
–Quick implementation of your ideas.
Briefly describe your services and how they support Risk Advice
–CDM Solutions www.cdmsolutions.com.au (A great supporter of us) provides client relationship management, insurance price comparison and other related services to Financial Advisors who acquire and manage clients’ life insurance policies. CDM collates all insurance policies in one portal and automates renewal notices being sent from advisers to clients with upcoming policy anniversaries. This creates more engagement with clients and reduces costs to run your business. They also produce policy schedules easily, and track policies which have missed payments to reduce lapses. CDM is changing the landscape in Australia for risk advisers large and small, and have nearly 200 practices they service as clients since they launched in September last year.
Are your services specifically tailored for the Risk Advice market?
–Yes
How do your services contribute to making the delivery of Risk Advice easier or more efficient?
–100% reduced cost to serve, more efficiencies, more happy clients and support staff. more bottom line profit
Risk Hub Review
The following testimonials have been provided by CDM Solutions:
Matthew Yates (Byfields Wealth)
It’s very refreshing when a piece of software works 90% and you’ve got 10% of the time you need to work around rather than the other way around – it’s a very easy process to set up so you can get an idea very quickly whether it’s going to be a benefit to your business.
Particularly with the free trial, by the end of the month, we were looking for where to pay, because we wanted to get it underway.
David Beaton (Via Financial Group)
The tool we all dreamt about has arrived. At first, it was an excellent tool for tracking our in-force insurance book with each provider. Then it was able to produce policy schedules. Now, CDM can automatically communicate with clients regarding their annual insurance reviews, dishonours and birthdays. Linking it with the Omnium quoting tool has also dramatically improved our workflow and service offering to clients. We couldn’t recommend this tool enough.
Matt Beauchamp (Beaulife Group)
CDM has been a very worthwhile investment for our company. They were responsive and took a flexible approach, providing our business with a tailored solution.
CDM offers precise, easily interpreted data which assists us to add value to customers while reducing the time it previously took to collate this data. CDM is a ground-breaking tech offering in an industry that desperately needs it.
Ron Lambert (Lambert Group)
This is the holy grail of life insurance data feeds! It has saved us a part-time staff member who was solely responsible for following up on overdue premiums. Would highly recommend it to anyone who specialises in life insurance.
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