Tenet Group will be offering its appointed representatives and associate advisers access to critical illness portal CIExpert’s Online Service, after assessing its suitability,
Critical illness expert Alan Lakey launched CIExpert, a web-based service to address the differences between critical illness insurance policies, in May 2012.
Mr Lakey said that the critical illness market offers a wealth of choice with insurers regularly updating their plans by adding new conditions or varying existing claim wordings, saying the website can help Tenet members find the ideal solution for their clients.
In general, take-up of critical illness policies are low and cost is often considered to be the main reason for recommending a provider and also for replacing existing cover.
Mr Lakey said this may prove an unwise means of assessment because comparisons are rarely on a ‘like for like’ basis and is unlikely to provide the client with the best solution.
He said: “CIExpert provide a comprehensive support tool for the adviser in making value comparisons based upon detailed research and statistical data in a fraction of the time. One of the main areas of concern has been how to evaluate a new product and compare it with an existing plan.
“CIExpert offers a library of historic plan conditions enabling advisers to assess the differences and reach an informed decision.”
Peter Chadborn, a Tenet member at Plan Money, added: “We have been using CIExpert for some time and it has proven to be an invaluable tool for both ensuring our CI research is accurate and thorough and for ensuring our files adhere to high compliance standards.”
CIExpert has agreed preferential terms for Tenet advisers to access the tool to assist in comparing Critical Illness Contracts.
