You are here: Home - Better Business - Business Skills -

What’s new in protection: Technology round-up

by: Mark Dennison, principal, LightBlue UK
  • 14/07/2017
  • 0
This year has seen plenty of innovation in the protection world, especially in the technology space, writes Mark Dennison, principal, LightBlue UK.

InsurTech is playing an important role in new initiatives, new systems and advice tools that have been launched this year. Here are some of the most notable initiatives in Q2 for anyone advising clients on protection.

LV

 

LV has launched an online pre-underwriting tool, in partnership with UnderwriteMe, to improve the underwriting process for advisers. It is available through LV’s Fastway quote and apply system and will enable advisers to check instantly whether a specific illness or condition will result in standard rates, increase premiums, or lead to an exclusion being added to the policy. Interestingly, it is available 24/7, which means advisers can submit business outside of regular working hours and receive instant decisions without having to call an underwriter.

 

British Friendly

Meanwhile, working in tandem with Square Health, income protection provider British Friendly has launched a consumer app for the second opinion and health services it is offering as part of its mutual benefits services. Through the app, users can book appointments 24/7, keep track of their health support points, access additional services and better monitor their health.

AIG Life

 

AIG Life has begun issuing all customers who buy AIG protection policies with an annual insurance statement. Customers will receive an email each year on the date their insurance was taken out containing a PDF summary of all protection insurance so clients and their financial advisers can check they have the right amount of cover in place.

Gryphon Group Holdings

 

Gryphon Group Holdings Limited is building an insurance challenger that seeks to protect more families in the UK. Initially focusing on protection, the infrastructure will be based on digital and cloud based technologies, built with the support of several leading partners including Liss Systems, the core platform technology partner.

 

iPipeline

 

iPipeline’s SolutionBuilder, their protection research, quote and apply solution, has been adopted by Mortgage Force, which has over 75 professionally qualified advisers nationwide. A good system, especially for advisers whose first line of business is not protection, is essential and Mortgage Force’s investment in protection in this way is commendable. A greater focus on protection across the adviser industry can only be a good thing.

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
buy to let
Accord opens criteria to first-time landlords

Accord has begun offering mortgages to first-time landlords.

Close