The eXchange has launched an online term assurance quotation and electronic processing service throu...
The eXchange has launched an online term assurance quotation and electronic processing service through its eXweb facility.
The full quotation service will enable the eXchange's 13,000-strong IFA client base to complete and transmit new business application forms electronically.
Incorporated into its existing quotation services, the service also offers an in-built data validation facility to help IFAs reduce the potential for errors on the application form. The move is part of the continuing migration of the eXchange's quotation products from the common trading platform to eXweb.
Nick Prestwich, managing director of the eXchange's business-to-business division, said: "The new service has been significantly enhanced to take account of developments in the term assurance market.
"Many insurers are now offering life, health and general insurance benefits together in a single plan. As a result, IFAs need access to wider ranges and combinations of products than ever before. The new service offers an unrivalled product range that will allow IFAs to match their clients' needs."
Products available include term assurance mortgage protection, critical illness, decreasing term assurance and family income benefit. It also offers product add-ons such as waiver of premium for both health and unemployment cover, ASU, accidental death benefit and keyperson cover.
Prestwich added: "We are delighted with the continued growth in the use of eXweb. IFAs have told us they want greater flexibility and more functionality on eXweb and we are committed to continually improving and developing our services to provide IFAs with more tools to match these needs and help them with their business processes.
"This is a significant step forward in full electronic trading."
