Intrinsic launches critical illness comparison tool

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Intrinsic launches critical illness comparison tool

Intrinsic has launched a critical illness comparison tool with independent software provider Defaqto.

The tool allows advisers to compare new and historic individual and business cover policies.

It generates reports that include the rating views of experts, so advisers and their clients can ensure they are getting the best policy for their needs. 

Gemma Harle, protection and mortgage managing director at Intrinsic, said the tool is designed to make an adviser's business more efficient.

She said: "The market for critical illness policies is continually developing and it can be tricky to ascertain which policies are more favourable for clients without medical expertise.

"With a myriad of things to keep track of, advisers are pushed for time.

"With the new tool advisers can quickly and confidently compare the differences between complex policies based on the most common causes of UK claims in 2017.

"With oversight from independent experts, advisers and their clients can rest assured that they are getting a policy that suits their needs and time of life."

This comes after research by YouGov showed time efficiency was a challenge for advice firms, with 60 per cent saying they find it hard to complete all their tasks in a day, compared to a national average across workplaces of 53 per cent.

Carl Roberts, a chartered financial planner at Milton Keynes-based RTS Financial Planning, said: "It is always good to see more advances in technology for advisers to help them get clients the right products quicker.

"The reports will need to be in a client friendly format - jargon free if they are to be valued by the client."