The Protection Platform is the revised system name reflecting the latest advancements from UnderwriteMe.
The improvements will assist advisers by: saving time, allowing greater efficiency, reducing costs and enabling a greater clarity when providing premium figures to clients.
Since time immemorial the protection insurance adviser has been plagued by numerous obstacles that have wasted his or her time, increased costs and sometimes served to defy logic.
By contrast, the wealth adviser is buttressed by software programmes and other technological assistance and the protection adviser has had to make do with those few resources available. One increasing problem has been the stricter health underwriting being applied by insurers.
As a result, fewer applicants now receive ‘standard’ terms and this means that advisers often waste their own and their clients’ time with applications that never proceed due to ratings and exclusions.
This all changed in 2015 when UnderwriteMe launched.
UnderwriteMe offers an online system with links to numerous insurers’ underwriting engines which provide immediate underwriting, enabling advisers to assess likely terms without the need to telephone insurers or go through the drudgery of multiple applications.
One welcome improvement to the previous version is the removal of unnecessary verbiage from the online questionnaire, courtesy of Quietroom. Another enhancement is the result of analysing previous medical disclosures to arrive at more pertinent questions.
Another interesting move is the link-up with Defaqto.
Plans can now be compared based on, for example, the number of CIC conditions covered. It’s simple but effective.
Alan Lakey is founder of CI Expert