Confused.com has become the first comparison site to use Quote+ technology to aid customers in buying their life insurance, with a typical application less than two minutes.
Quote+ technology will use the customer's responses and match them against the underwriting criteria of Confused.com's panel of UK life insurance providers.
Customers will now be able to compare competitive life insurance products across insurers and have a clearer indication as to whether they will be accepted for the quoted prices offered or whether they will be declined.
Confused.com said by using Quote+ technology, customers can have its customers with an indication of:
• Which insurers may offer immediate acceptance for their life insurance without the need for further underwriting/medical tests.
• A more accurately-priced offering of what their monthly premium would be - by asking additional questions it is unlikely that additional charges will be added.
• Which insurers may require more information/ a medical test.
• Which insurers are more likely to decline them for a life insurance policy.
Matt Lloyd, head of life insurance at Confused.com said: "We are really excited to be the first comparison website to incorporate ‘Quote+' into our quote process. This industry first technology allows customers to get an accurate indication of how their life insurance application will be treated by an insurer typically in less than two minutes."
Lloyd also said that the second half of 2014 will see Confused.com launching "further market leading improvements to our life insurance service which we hope will prove equally as significant and game changing."
This comes as Direct Life recently revealed it launched a fully comparable buy now life insurance policy, available to advisers through Direct Life's LifeQuote service and direct to the public through Confused.com.
Launching later in 2019
Considered least important
Research from Canada Life
Putting the tech into protection