The Exchange has improved its online life and health protection to make it easier and faster for IFA...
The Exchange has improved its online life and health protection to make it easier and faster for IFAs to obtain quotations.
Technical improvements have speeded up the quotation service so that results can be obtained in less than a minute and the number of steps needed to obtain the quote have been reduced from seven to four. In addition, product sourcing has been improved, so as the requirements are entered the list of providers who support that specific product is instantly updated.
Stephen Wynne-Jones, product marketing manager at Exchange FS, said: "IFAs can now access the system and get term assurance quotes from over 20 providers online. We have also improved the service to make sourcing products even faster, which is what IFAs need."
The Exchange has also announced that three new providers have signed up to its online term assurance system.
Scottish Mutual, Scottish Widows and Skandia Life are the latest companies to subscribe to the service, which takes the total number of providers who are live online on the term assurance side to 21.
Anthony Scammell, senior e-commerce manager at Skandia Life, said: "IFAs writing term business need the opportunity to select important product features, such as waiver of premium, and to easily identify the cost of those features. The system's main strength remains in the fact that it offers a comparison quotation service featuring the majority of leading protection providers."
The portal now has over 14,600 subscribing IFAs and on average provides 220,000 term assurance quotes a day.
l Exchange FS has won the contract to provide a range of online transactional services to Incresco, a new IFA specialising in the new homes market. The services will enable Incresco to provide comparative quotation facilities for level term assurance, mortgage protection and critical illness through its own consumer website. The services are part of Exchange FS' Easitrade suite, whose protection components are now supported by 21 providers.
