Protection provider Bright Grey says it will be ready to launch its online processing system by the end of the year.
At a recent IFA roadshow in London, the company said that a prototype is ready and it hopes to be able to launch this by the final quarter of this year but is pushing for Q3.
The online business proc- essing system follows the introduction last month of an online quotation service. It is also setting up a comprehensive online underwriting service.
Bright Grey is trying to smooth out its bumpy start by trying to rectify admin problems which it suffered last year. It has built up its its underwriting team from four to 32 underwriters.
The provider says its medical queues have been reduced from 22 working days at the start of 2004 to four working days and it says it expects to reduce this to 72 hours.
Distribution director Andy Peters says: “We are committed to providing the very best service we can to IFAs and clients. We understand that a reliable and robust online system is fundamental to IFAs writing protection business. This is what we are working towards providing.”
Life Policies Direct managing director Jason King says: “We have been monitoring online processing systems. We predicted the problems that Bright Grey would have last year. We will see how Roger Edwards fares with this.”