Needs Analysis
What a needs analysis covers
Understand what a needs analysis uses, how it runs, and what ends up in the final report.
Introduction
A needs analysis in DNA turns a client's data into a clear recommendation on how much insurance they need. DNA reads every asset, debt, and policy on file, surfaces the risks that apply, and lays out what to do about them. You approve each step along the way, so the final report reflects your judgment, not just the numbers.
This page covers what goes into an analysis, how the flow is structured, and what comes out the other end. For the step-by-step walkthrough, see Running an analysis.
What goes into an analysis
When you start a new analysis, DNA takes a snapshot of the client file at that moment. Everything the analysis uses comes from that snapshot, so changes you make to the client file afterwards do not shift the numbers mid-report.
The snapshot pulls from:
Client basics: date of birth, sex, location, earned income, passive income.
Financials: every asset and debt on file, including values, types, growth rates, and payoff dates.
Coverage: every existing policy you have recorded, including amounts, premiums, and types.
Beneficiaries: names, relationships, and roles.
Notes: case-file notes on the client, for context.
You also set three inputs that apply to this specific analysis:
Coverage preference: Essential, Balanced, or More Coverage. This sets the starting point DNA uses when recommending a range for each risk.
Living benefits: whether to include disability income, critical illness, and business overhead risks in the analysis.
Custom guidance: a free-text note you can add to steer the analysis toward something specific on this client.
How the flow works
Every needs analysis runs through four phases in order. Each phase produces a result that you review and approve before the next phase starts.
Phase | What happens |
|---|---|
1. Risk Identification | DNA surfaces the risks that apply to the client based on their profile. You review the list, add or remove risks, and move on when it looks right. |
2. Coverage Analysis | DNA calculates a low, target, and high coverage amount for every risk you kept. You choose the amount for each one. |
3. Total Need & Strategies | DNA recommends insurance products that could cover the gaps. You pick which strategies to include and how they mix. |
4. Building Overview | DNA drafts an executive summary and key findings based on your choices. You review them and finalize the report. |
You can rewind to revisit an earlier phase if something needs changing before the report is finalized.
What comes out of the analysis
A completed analysis has two views: the on-screen overview for quick review, and an 8-page PDF report you can share with the client.
The PDF report covers:
Client overview: net worth, assets, debts, and income at a glance.
Net worth statement: the detailed breakdown behind the summary.
Goals, priorities, and concerns: what the client is planning for.
Risk overview: the full list of risks that apply to the client.
Risk analysis: each risk with its recommended range, chosen amount, gap, and the reasoning.
Next steps: action items for the advisor and the client.
DNA applies your firm's logo and colors automatically, so the finished PDF looks like it came from your practice. See Reading and sharing the report for more on each section and how the export works.
Limits on Starter
Starter accounts are not allowed to export the final Needs Analysis report. And due to the 3-client cap, you are limited in the number of times you can run a needs analysis.