Signature-free service offers instant cover online, real-time updates and immediate alerts from third parties
Zurich Life has unveiled its Life Protection Platform, along with some key changes to its protection range.
The platform, which will be phased out to the adviser market during September, comes with two new products - income protection and multi-fracture cover - plus there are updates to its critical illness offering.
Both income protection and critical illness policies are now available in two levels: ‘core' provides entry-level version of the products while ‘select' cover is more comprehensive. Flexibility to move between policy types is available to customers as their circumstances change.
Free confidential telephone-based counselling is also available for policyholders.
A new option for life, critical illness and income protection policies, multi-fracture cover is for customers between 16 and 70 years old and requires no underwriting, covering broken bones, dislocated joints, ruptured Achilles tendon or teared cruciate knee ligaments - they can claim up to £6k per year.
According to Zurich, the new platform has been designed to allow advisers to apply for instant cover online, plus it offers real-time updates on applications and immediate alerts from third parties such as GPs, AMRA electronic signatures and online trust will be signature free.
Advisers can choose whether to complete medical questions on behalf of their clients, or send a link so that customers can do it in their own time.
There is also a self-service option for advisers to make instant changes to policies as and when the circumstances of their clients change - this can include increasing cover, changing terms, adding and removing features such as children's and multi-fracture cover and switching between cover.
Choice and convenience
"We've asked advisers and customers what they need and have completely redesigned our products and services to offer greater flexibility with slicker and speedier systems," said Peter Hamilton, head of market management for Zurich.
"In a world that demands 24/7 access, Zurich's Life Protection Platform is about offering advisers and customers choice and convenience - both around how and when they choose to manage their policies and the type of cover available. The range of conditions covered, and new features like our Multi- fracture cover and optional children's benefit, reflect current lifestyles and the fact our lives and those of our families constantly change.
"Importantly, our new platform gives us the ability to evolve and develop our offering. These are significant changes for us but there's much more to come," he added. "We're confident that we're offering market leading products, underpinned by first class service and support so that more people can secure crucial cover to support them through life's ups and downs."
Ashley Hale, managing director, TCP Life Systems - iPipeline, added: "We are delighted with the platform launch at Zurich (UK) who, within a 12 month timeframe, have fully capitalised on the capability of our SS/G Digital technology to deliver a full suite of market leading products. The new customer and adviser portal functions provide an end to end process, which includes online contractual change, helping customers and intermediaries better manage their protection needs while helping to grow the protection market. SS/G Digital offers a flexible solution to help maximise business conversion and policy take-up as well as reducing operational costs via automation."
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