InvestWell Helpdesk

Dear InvestWell Help Desk Team,

I hope this message finds you well.

As a regular user of your platform, I would like to share a few important suggestions that can improve the insurance data entry and reporting features. Since insurance is a significant part of our business in addition to mutual funds, these enhancements could make the software more useful.

1. Insurance Data Entry Segmentation:

Currently, the insurance data entry section only provides options for "Life Insurance" and "General Insurance." I suggest splitting this further into the following categories for better accuracy and usability:

Life Insurance: This can remain as it is.

General Insurance can be divided into three categories:

Motor Insurance

Health Insurance

Other General Insurance (e.g., Fire, Shopkeeper Policy, etc.)

This segmentation will make it easier to track different types of insurance, handle renewal calls, and input data accurately.

2. Reporting Enhancements:

For insurance distributors, the reporting system should be as robust as it is for mutual funds. Here are my suggestions:

Annual Insurance Sales: A report showing annual insurance sales.

Monthly Income: Month-wise income reports to track business progress.

Annual Income: An option to track annual insurance income.

Commission Pass-On Tracking: Details if any commission has been passed on to another person, including the recipient's name, amount, and date.

Net Income After Commission: A report showing net income after deducting commissions, giving a clear picture of actual earnings.

Upcoming Renewals: A list of upcoming renewals for the current month.

Missed Renewals: A tracker for missed renewals.

3. Improvement in Software Usability for Insurance:

These improvements will make it easier to manage different types of insurance and track renewals efficiently. It will not only help with accurate insurance data entry but also streamline the practice of insurance management alongside mutual funds.

4. Expanding Role of Distributors:

In today's financial landscape, mutual fund distributors are not only selling mutual funds but also assisting investors with other products, particularly insurance. Enhancing the insurance section of the software would make it even more valuable for us.

I look forward to your response, and if you need any further details or suggestions, feel free to contact me at any time.

Thank you!

Best regards,

Kamal Somani

Invest Karo India