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Bright Grey, the protection specialist arm of the Royal London Group, has designed online software to make online transactions easier for IFAs.

Built by Bright Grey’s in-house team, the system is aimed to help advisers be more efficient by making better use of client information which they have already captured.

The data is then pre-populated to allow straight-through processing and will reduce the amount of time it takes intermediaries to submit business while cutting down on mistakes by reducing the amount of information that needs to be rekeyed.

Roger Edwards, product director for Bright Grey, said: "Throughout the financial services industry, many different companies use databases to collate clients’ details. But there has not been the ability for data to be transcribed into the new business system of the provider."

Mr Edwards said: "This system allows the IFA’s existing data to pre-populate the Bright Grey system. It saves a lot of time for the IFA in terms of rekeying, as well as reducing errors.”

Val Pollard, protection adviser for London-based Term Direct, said that although she uses Bright Grey, most of her new business is with Legal & General and Norwich Union as they are very competitive at the moment.

Ms Pollard said: "While I do submit applications to Legal & General online because it is cheaper, I normally submit the others in paper form, as you have then got the client’s signature. Furthermore, the usefulness of this new system depends how much information you are going to submit initially to get a quote. Sometimes clients do not want to give all their details."