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Almost all providers offer real-time valuations, says Adviserwise

Almost 90 per cent of product providers offer real time valuations, according to Origo.

Of the providers signed up to support Adviserwise, the e-commerce information matrix launched in April, 13 per cent of them do not offer real time valuation.

Unum and Scottish Provident do not offer real-time valuations, but say this is because it it not relevant to their product ranges.

Origo says that as 87 per cent of product providers on the Matrix offer online valuations through one or more of the industry’s leading platforms, reveals significant opportunity for advisers to streamline the way they currently obtain valuations across multiple products and providers.

Origo says real time valuations allow advisers to cut out a large proportion of time consuming paper-work from their day-to-day working lives and provide clients with immediate access to the latest policy valuations.

JL Fisher managing director Andy Thatcher says: “We have recently begun using real time valuations through Plum Software. Previously, too much time was being spent phoning providers or accessing websites for valuations, increasing our servicing costs and hindering efficiency. Since using this facility we have reduced the time and costs associated with obtaining values from supporting providers and also greatly improved our back office administrative processes.”

Origo managing director Paul Pettitt says: “Interest in by all parties since the launch has been very positive and we have been working closely with the companies involved to communicate the benefits of the initiative and in particular the Matrix, to show advisers just how much more they could be doing online.

“I think many advisers will be surprised by the level of coverage for valuations across the industry and I hope it will inspire more to evaluate their current business model and adopt a more efficient online approach.”


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