The solution, which produces an indicative bespoke protection cost for clients while researching their mortgage needs, will be merged with Twenty7Tec’s Mortgage Source.
Once the protection cost is created, advisers can then nudge the client into looking at protecting themselves against any uncertain events.
Twenty7Tec said the move was in response to a greater workload that has been passed onto mortgage advisers since the Mortgage Market Review, putting pressure on the volume of protection sales placed with customers.
James Tucker (pictured), managing director of Twenty7Tec, said: “LifeGenie is a fantastic widget that allows our mortgage advisers to prompt their clients into thinking about their protection needs without seeking any additional information. LifeGenie is one of the most powerful sales aids an adviser can have right in front of them – a protection cost tailored to the client, with no additional detail required, allowing the adviser to start the conversation about what could happen if the client didn’t have any protection in place.”
Paul Yates, product strategy director, iPipeline, added: “Giving mortgage advisers the ability to nudge their clients into a conversation about protection, early in the sales process, is a critical step in the industry towards closing the protection gap and ensuring we better protect client’s needs. It is a travesty that reflects badly on our industry if we allow a client to go through a mortgage sales process – one of their most critical life and finance events – without ensuring they are aware of their protection needs.”
