Technology company UnderwriteMe is set to roll out its protection comparison service to directly authorised intermediaries during the first quarter of this year.
The service allows advisers to compare ‘buy now’ and estimated prices, and complete applications using one easy process, without ever leaving the website.
UnderwriteMe’s head of sales and marketing Phil Jeynes said that discussions are ongoing with several other insurance companies. He said: “Our aim is to continue to forge partnerships with new broker firms, insurers and third parties, and really bring protection into the digital age.”
The comparison service pilot started in August with the UK’s largest protection advice firm LifeSearch.
Last month AIG Life joined LV, Royal London, Old Mutual Wealth, Partnership, The Exeter, Scottish Friendly and Canada Life in partnering with UnderwriteMe.
Independent mortgage brokers London & Country Mortgages confirmed they would be using UnderwriteMe, while Cavendish Online are soon to launch the first direct to consumer site powered by UnderwriteMe technology.
Approving the progress UnderwriteMe is making, Peter Chadborn, director of Essex-based intermediary Plan Money, said: “I believe that the lack of a true ‘buy now’ solution is hampering the progression of the protection market in terms of consumer and adviser engagement. Protection insurance is a reluctant purchase, so we as an industry need to do all we can to simplify the process.”
