UnderwriteMe is set to roll-out its comparison service to intermediaries during the first quarter next year, as it confirms the signature of its eighth insurer partner, AIG Life.
The service allows advisers to compare ‘buy now’ and estimated prices and complete applications using one easy process, without ever leaving the website.
Commenting on the latest partnership, UnderwriteMe’s head of sales and marketing Phil Jeynes said that discussions are ongoing with several other insurance companies.
“Our aim is to continue to forge partnerships with new broker firms, insurers and third parties and really bring protection into the digital age.”
Peter Thomas, operations director at AIG Life, said the firm prides itself on being in tune with what intermediaries need and expect from a provider. “We recognise that UnderwriteMe represents a new way of working, which many intermediaries are keen to embrace and we’re excited to be working with them.”
The comparison service pilot started in August with the UK’s largest protection advice firm LifeSearch.
Independent mortgage brokers London and Country Mortgages confirmed that they would be using UnderwriteMe in the first quarter, while Cavendish Online will launch the first direct to consumer site powered by UnderwriteMe technology early in 2016.
The service is due to be on general release to directly authorised intermediaries in the first quarter of next year, with AIG Life scheduled to be included in the second quarter.
AIG Life joins LV, Royal London, Old Mutual Wealth, Partnership, The Exeter, Scottish Friendly and Canada Life in partnering with UnderwriteMe to date.
Peter Chadborn, director of Essex-based Plan Money, told FTAdviser he was excited about the progress UnderwriteMe is making and getting AIG on board is a significant step forward.
“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 and so we as an industry need to do all we can to simplify the process.”
peter.walker@ft.com
