Old Mutual Wealth Protect added to UnderwriteMe

The service provides as alternative to submitting multiple applications.

The selling point is it offers an end-to-end application journey, which requires the adviser to answer a full set of medical questions agreed between all providers and insurers featured on UnderwriteMe.

Being included on the UnderwriteMe comparison service means our product will more easily be compared to our peers. Paul Roberts

This allows UnderwriteMe to return either a guaranteed underwritten premium based on the answers given or an indicative cost and an instruction for what further medical evidence is required.

Paul Roberts, head of protection at Old Mutual Wealth, said: “Protection products have long suffered from a lengthy quote and application process, which can contribute to the customer apathy surrounding these insurances.

“For advisers it can be frustrating to quote a client based on an initial premium, which then changes when the client’s health, occupation, past-times and general health are taken into account.

“The two ways to avoid this situation have historically been to submit several full applications at one time, which is very time consuming, or not to push for protection business at all. Neither is an ideal state of affairs for advisers in their quest for positive customer outcomes.

“Being included on the UnderwriteMe comparison service means our product will more easily be compared to our peers and provides the opportunity to strike up new strategic relationships with some of the largest writers of Protection business in the UK.”

Phil Jeynes, head of sales and marketing at UnderwriteMe, said: “We’re thrilled to have Old Mutual Wealth join UnderwriteMe.

“They have an excellent product set and an established brand, which will add yet more value to our digital, point of sale system. We welcome Old Mutual Wealth to the protection revolution and expect our partnership to be a long and successful one.”