When applying for protection online, 50 per cent of consumers receive instant acceptance, which allows commission to be released faster, says Bright Grey .
According to the protection arm of the Royal London Group, its ‘interactive quote and apply’ underwriting system generates quick and detailed decisions, which speeds up the application process for advisers and enables customers to get cover faster. The firm also found that around 12 per cent fewer clients are asking for further medical information, which helps to simplify the application process. Cases without medicals are now offered cover faster, taking on average three days instead of five.
Roger Edwards, proposition director at Bright Grey, said: "Having very swift processing times helps advisers keep their clients engaged through the sales process and ultimately helps convert more business. It's not difficult to see why the system has developed such a loyal band of followers, as advisers have been quick to realise the tangible benefits."
Bright Grey praise impact of online protection
Financial Services > Income lnsurance > News
Bright Grey praise impact of online protection
Wed, 10 Dec 2008
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