Quote+ weeks from adviser launch

Currently under trial with ten protection providers Quote+ pre-screens applicants and seeks to address the huge fall off between initial application and final conversion.

The universal application process, which includes term, family protection and critical illness insurance products, addresses the issue of providing a price to a customer without having obtained meaningful data.

By adding 14 pre-screening questions, the technology will provide more accurate pricing and will direct customers to insurers that are most likely to cover the applicant, taking into account those who operate a preferred lives policy.

Rob Quayle, managing director of Direct Life, said: "The insurers are coming to the end of testing and, if all goes well we are looking at six weeks to roll out.

"Then once it is out the insurers can start innovating, for example by putting advice triggers in the questions asked. This will open up a new field of competition, as at the moment I don't think advisers are aware of who is rating on what."

He added: "In the future the Ombudsman will more and more side with the public on quotes issues. The question is ‘is there a case for as much post quote underwriting as we do now?' I don't think so.