Scottish Widows is the fourth provider to join the platform, with the other lenders being The Exeter, Vitality and Zurich.
The advanced underwriting platform is available through quote and comparison portal SolutionBuilder, which was launched to all advisers in September.
The advanced underwriting platform captures upfront information to assess the top 20 most common medical disclosures. These typically account for up to 80% of all medical loadings and changes in terms post-application.
This means that there are faster, more reliable protection quotes and earlier indications of underwriting decisions, so advisers can work more efficiently and deliver better customer outcomes.
Scott Cadger, head of product, underwriting and claims at Scottish Widows, said: “Our overarching approach to underwriting is about being transparent, so customers and advisers alike can make informed choices when selecting and buying protection cover.
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“The Advanced Underwriting proposition in SolutionBuilder allows customers with health disclosures to get a more accurate position of the cost of cover, reducing the chance of surprises further into the buying journey. It also supports advisers to have more tailored conversations around the right provider for that client.”
Rachel Edwards, managing director UK of iPipeline, continued: “We’re delighted that the number of providers using Advanced Underwriting is expanding and it’s fantastic to now have Scottish Widows onboarding to the platform.
“The engagement from providers has been terrific and as more join the platform, we are bringing real change to the protection market. It helps advisers provide a faster, more accurate service to their clients, making the protection journey not only quicker but more transparent, helping people to get the cover that they need.”
Siobhan Brookes, company director and mortgage and protection adviser at Folan Brookes Financial Consultants, added: “Previously, if there were some criteria that I need[ed] to check before submitting an application, I’d have to go through pre-application inquiries with each provider individually.
“Now, with Advanced Underwriting, I go to SolutionBuilder, input the information and immediately get an indication of what the quotes are likely to be. This puts me in a really great position in front of my client and produces a better outcome for everybody.”
