Lifequote, the intermediary arm of Direct Life & Pensions, has launched software aimed at helping in...
Lifequote, the intermediary arm of Direct Life & Pensions, has launched software aimed at helping intermediaries choose which products they should recommend to their clients.
By processing a client's personal data, the Intelligent Protection system allows advisers to see what specific protection options are available.
The intermediary can then, together with the client, pick the options the customer wants.
Although Intelligent Protection could aid intermediaries with their advice process, Lifequote has made a point of clarifying that advisers are still needed.
"The system is there to help the adviser but the adviser still needs to advise," said Mike Ward, managing director of Lifequote.
IFAs have applauded Lifequote's move.
Peter Chadborn, principal of IFA firm CBK, said: "It is very easy to use but not too simple. A client still needs an adviser to guide them in the right direction.
"I like the way it gives you the option to look at all the quotes, as that helps to promote other areas of protection.
"Larger distributors or IFAs who just get a quote from the Exchange will definitely benefit from this invention."
Kevin Carr, head of strategic relations at LifeSearch, said: "It highlights the importance and potential complexity of advice in protection.
"It should help close the protection gap and users should see increased sales of policies such as family income benefit and income protection as a result."
- To access Intelligent Protection visit www.lifequote.co.uk.
