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Friends Provident adds IP online

Friends Provident is adding IP to its online underwriting system in a bid to give advisers better access to new business processing.

From today the financial services group will be adding IP to eSelect, its
interactive underwriting system which already deals in CI and life cover.

The move means IFAs can now benefit from straight through processing, and
offer clients the option to increase their benefit in line with the Retail Prices Index.

Friends Provident head of protection marketing Mark Jones says: “We are
confident that this latest enhancement to our eSelect platform will make life easier for advisers.

“We are not only expanding the range of protection products available online, but by adding IP advisers can take advantage of a range of benefits that both the system and our products offer.”

The Financial Technology Research Centre director Ian McKenna welcomes the move.

He says: “With advisers increasingly looking to provide a range of protection
products to consumers, extending eSelect to include IP is very welcome.”

The expansion comes days after an ABI survey reported 69 per cent of
respondents as saying they would not be willing to take out any protection
insurance products in the future.

The ABI’s assistant director of health and protection insurance Nick Kirwan says: “It’s clear that we need to work harder to get the message across about the peace of mind and value that having the right protection insurance gives individuals and families.”


Ratio hornblower

The savings ratio is based on the latter – it is the difference between what we earn and what we spend, so it is effectively the net increase in savings held minus the net increase in debt owed.


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