IRESS is partnering with LV= to deliver its fully integrated advice and wealth management solution, XPLAN.
LV='s challenge was to replace disparate systems which formed part of its Direct Protection business with a single, streamlined solution to improve customer experience.
XPLAN said the implementation across LV=' direct protection business, closely integrated with IRESS' The Exchange, will enabLe greater visibility of revenue, a quicker advice cycle and the ability to measure against service benchmarks.
With the initial pilot of the phased rollout successfully completed, XPLAN will now be fully implemented and the next phase of the project commenced encompassing compliance and suitability oversight and telephony integration.
Mark Loosmore, executive general manager, Wealth - IRESS, said: "The scale and structure of many businesses in the insurance industry often results in technology solutions evolving over time, resulting in a collection of varied and disconnected systems, each with various touchpoints.
"In practice this way of working can prove extremely resource intensive, creating duplications and with the obvious potential for letting inaccuracies creep in. XPLAN helps eliminate these challenges by providing a single unified solution that allows both LV= staff and the end consumer greater flexibility and efficiency - a must in today's world of fast-paced technology."
Mike Farrell, head of protection sales at LV=, said: "We pride ourselves on our ability to deliver good customer outcomes for clients and XPLAN will hopefully allow us to help more people, more efficiently."
