Swiss Life (UK) has launched an online income protection (IP) tool, available through The Exchange's...
Swiss Life (UK) has launched an online income protection (IP) tool, available through The Exchange's Exweb portal.
Intermediaries can process standalone individual IP business from application through to acceptance online.
Swiss Life introduced the new facility after research among advisers revealed the most annoying aspect of getting clients on risk is the duplication involved in filling out both paper and electronic applications and then obtaining a signature.
With the new service, information is submitted online, at which point a pre-populated form can be printed off and Swiss Life will follow it through to obtain clients' signatures. Clean applications will be put on risk immediately.
Richard Leadbeater, e-commerce manager of Swiss Life (UK), said: 'Moving the need for a signature to the back of the process means there is less hassle for the adviser, ultimately making it easier to write more income protection business. The solution is designed to be suitable for use by all intermediaries, regardless of their business model.'
The Exchange is the first IFA portal to support Swiss Life's e-income protection system.
Sue Summers, general manager of The Exchange, said: 'Online transactions are set to play an increasingly important role in the intermediary sector as regulat- ory pressure to reduce costs and improve customer service increases. Our aim is to support this trend by providing IFAs with a single access point to the latest e-commerce services.'
Of the 190 respondents to Swiss Life's research questionnaire, 61% said they regularly conduct business online.
However, only 26% felt current systems are easier to use than traditional methods.
