View more on these topics

Liv Vic updates its flexible protection plan using STP

Liverpool Victoria has added a new online processing system for their flexible protection plan using a straight-through processing system.

The revised system allowed IFAs to select life, critical illness, mortgage payment protection and income protection covers using one online application.

Advisers will also have the added benefit of instant acceptance and tracking of policies completed through the system. The system also puts advisers in control by enabling them to produce illustrations and review previous business.

The objective behind the launch is to ensure a more efficient service for advisers, enabling them to obtain quicker decisions for clients.

Liv Vic will support IFAs with an expert telephone team capable of contacting clients directly, reducing the need for GP reports.

The system offers two options – a short and a normal form. The short form requires basic information and takes around 10 minutes to complete before being passed to a telephone interviewer to complete the rest of the form.

The normal route offers IFAs a 10 per cent commission uplift for completing all the information themselves, on behalf of their clients.

Liverpool Victoria director, intermediary business Stuart Tragheim says: “Our new STP system demonstrates our commitment to making the life of the adviser easier. Any technology that can be put in place to speed up policy applications is a positive step, and the ease and breadth of choice of cover available through the mimi flexible protection plan means advisers can find quick and individual solutions to their clients’ needs.”


Options E to H are favoured in review

The FSA says the majority of responses to the Financial Ombudsman Service funding review favoured options E to H, where advisers get between five and 10 free cases with an increasing flat fee.

Zopa has 100,000 users signed up

Online consumer lending portal Zopa has over 100,000 users signed up, not 1,000 as reported in Money Marketing on October 19.

Proc fees could be blocked if loan is sold on

Concerns have been raised that brokers may see the potential to earn future proc fees dashed once a mortgage is sold or securitised. In a case involving A J Hird Insurance Consultants dir-ector Chris Cundell, his client’s mortgage was sold by Amber Homeloans to Infin-ity Mortgages and when the client moved home and the mortgage […]

Neptune’s Burnett looks beyond Greece

Watch Rob Burnett, manager of the Neptune European Opportunities Fund, discuss the Greek bailout deal and its potential implications for European equities. In the video Rob discusses: Why, with the Greek crisis receding, markets can now focus on Europe’s strong fundamentals The resilience of European markets and why the recovery is on a solid footing […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment