- May 10, 2012 -
(Milwaukee, WI / Santa Monica, CA) NX Institutional Solutions, LLC has developed one of the insurance industry’s first and only compliant Mobile Online Video Presentation and Disclosure tools approved for consumer use, “The NX Solution©”
(NX) distribution platform. The current platform is available in two formats, suitable for use by field advisors and within a bank or credit union setting.
The NX provides interactive multimedia marketing for Lincoln Financial Group’s (https://www.lfg.com/LincolnPageServer?LFGPage=/lfg/lfgcli...
) MoneyGuard Reserve (Plus) universal life product line as well as a host of other simple issue insurance products.
This patent-pending solution provides advisors with an opportunity to present products via compliant state specific online HD video on virtually any mobile device.
A touch screen kiosk unit is also available for use in an institutional or other permanent setting.
By using the NX, advisors can enhance their marketing efforts with mobile delivery, ensure increased compliance by delivering a consistent approved marketing message and reduce liability by incorporating the company’s many patent-pending interactive disclosure tools. The NX will also incorporate the industry’s first real time slide bar illustration system allowing an advisor to generate instant quotes for even the most complex insurance products, retirement plans or income quotes.
But, what has founder, Matthew McGonigle most excited is what the NX can do for a consumer.
“When advisors use our technology they have an opportunity to educate a consumer and reduce buyer’s remorse by leaving their clients with a tangible presentation via an online video for the first time ever.”
With a long list of industry firsts developed with consumers in mind, ranging from suitability forms and product recommendation tools to the first iPhone and iPad presentations, it’s no surprise that the team at the NX has put together such an all encompassing solution.
Utilizing a sophisticated system that tracks over 43,000 zip codes and implements Akamai (http://www.akamai.com/html/technology/index.html
)’s Intelligent Platform, the NX is able to get their digital content closer to consumers and advisors than any form of marketing previously available.
“As online HD video is such an important piece of our process, taking advantage of Akamai’s service allows us to deliver uninterrupted playback with the fastest throughput rate to guarantee a great user experience” says McGonigle.
Not only does seamless playback ensure high quality video, but also provides for mass scalability, which the company feels will be necessary as online video becomes the industry standard.
“The last thing an insurance carrier wants is to bog down their entire compliance department with Youtube videos their advisors are making at home. In order to stay relevant, institutions are going to have to start providing digital marketing tools their advisors need and online video is just one piece of that puzzle,” says McGonigle.
The team at the NX has a long-standing track record of developing innovative suitability and compliance practices long before being identified by institutions themselves.
With an understanding and adherence to compliance the NX has the ability to storyboard, script, produce, edit and upload product specific videos in days rather than weeks, at a fraction of the cost of a traditional ad agency.
“Our ability to use plug and play technology and do everything in house is important because the products, disclosures and marketing change so rapidly.
Our digital content can be used for educating, marketing and sales of course, but it also makes a great recruiting and training tool, so speed to market is critical,” says Matt Meyer, a partner and national recruiter.
The NX also begins to open the door into social media for the distribution of financial products.
By providing institutions with educational content and videos that are both regulatory compliant and state specific every time they are viewed online, the NX creates the first real solution for the challenging world of social media advertising in the heavily regulated financial industry.
Institutions are starting to recognize that social media is not a passing fad for young people and if you want to create brand awareness you need to incorporate social media into your strategy.
“Don’t expect Facebook ‘shares’ that feature a new product offering any time too soon, but you can count on educational and promotional content to hit the web via social media,” says McGonigle.
Recently, the NX partnered with Arkovi (http://www.arkovi.com/
), a financial services social media solution for archiving and market intelligence. Thanks to this partnership NX users can incorporate a cloud-based, secure platform that allows them to engage in social media from any business or personal device while satisfying industry compliance requirements. “We are opening up a lot of doors for institutions that are ready to accept social media as a viable and necessary marketing tool, while maintaining their high compliance standards,” says McGonigle.
The team at the NX is comprised of seasoned financial marketers and sophisticated rich internet application developers that have experience producing new distribution and marketing channels that drive revenues.
Several of the engineers involved in this platform were instrumental in the development of the mortgage industry’s premier online application process, which generates in excess of $150 billion in annual applications. Look for NX Institutional Solutions, LLC to continue down this path and revolutionize the way financial products are marketed in the information age. The NX is currently handling multimedia and mobile video requests from insurance carriers, investment firms and marketing organizations. For contact information or to request a demonstration visit www.theNXsolution.com or call direct 262 408 8401.
About Us – NX Institutional Solutions, LLC is a Wisconsin corporation with offices in Milwaukee, WI, Santa Monica, CA and studios in Minneapolis, MN. The company’s initial offering, “The NX Solution”, is a patent-pending platform for the automated online marketing and customized distribution of financial and insurance products in both general markets and institutions. This article may be reprinted or reposted electronically in its entirety and original format.