LifeBase is an online product analysis system which allows users to view detailed information on offshore life assurance products and to generate projected maturity illustrations for those products. The system incorporates the latest analysis tools for assessment of the offshore products currently available.
LifeBase is used extensively by life offices for product development and marketing purposes. It is the most widely used system of its kind in the offshore life assurance industry.
Originally launched in 1997, LifeBase has evolved over the years and is being continuously developed and improved.
LifeBase was relaunched in February 2016. Some of the main features are:
- product providers are able to verify and update their products online;
- expanded product literature sets;
- results of product comparisons and projections are available as CSV or PDF files;
- results can be saved for future viewing or editing;
- designer section where users are able to create their own products.
LifeBase boasts a vast library of product literature sets within a simple and easy to use interface, and this library is constantly reviewed to ensure all of the pieces of literature included are the latest versions available.
The 'Designer' section of the system gives users the ability to create their own products. So if a life company is planning to change special offer terms, or if they are launching a new product, LifeBase gives them the facility to compare their proposed offering against what they will be competing against in the current market.