ProtectionMay 8 2013

‘Software smooths path for protection advice’

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ByKevin White

The managing director of aggregator firm Direct Life said the software, which it provides on a white-label basis to advisory firms and direct-to-consumer comparison websites, enables advisers to save time and resources spent on laborious administration.

He said: “Protection advice can be an attractive proposition for advisers, but many don’t have the confidence to enter the market due to the challenges they face with back-office and compliance requirements. White-labelling a product like ours can help take away these challenges.”

Mr Quale added that Direct Life’s new tool, Quote+, would be rolled out within the next two months following a successful trial with aggregator sites.

He said it would “vastly improve” the conversion and universal application process for protection products by pre-screening applicants with 16 key questions, and would establish which clients needed to seek advice.

Adviser View

Peter Chadborn, director of Essex-based Plan Money, said: “For an adviser, giving protection advice can be a protracted process. I often say that the easy bit is getting the customer to say yes, so anything that can help an adviser research policies and process applications, and cut down on the time spent is a good thing.

“I would add that using this type of service does not cut corners either, it strengthens things compliance wise.”