UnderwriteMe has gone live, as Exeter Family Friendly, Scottish Provident, Scottish Friendly and SunLife are now using UnderwriteMe software within their own propositions, with three further insurers set to go-live in the next quarter.
UnderwriteMe CEO, Martin Werth, said: "We have had a great response to our underwriting technology and three launches in one week is a fantastic achievement."
The UnderwriteMe USP is it's single application process that simultaneously interrogates multiple participating insurer underwriting engines. The "state of the art" technology provides comparisons of estimated prices, or fully underwritten prices and available benefits at the point of sale. This removes sales complexity so advisers can focus on advice and deliver a fast service with no surprises.
Werth, added: "This is a very exciting first step towards the launch of our multi-insurer comparison proposition. The protection market has significant potential if we can more effectively engage with customers and advisers to simplify the buying and selling process.
"The easy buying process will be a big win for customers and intermediaries, as well as reduce insurer costs."
Andy Chapman, CEO, Exeter Family Friendly said: "UnderwriteMe is a potential revolution in the protection market - the first common application process, offering advisers and their customers what they need - usability, consistency and immediacy."