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Misys members get in early for Friends online Protection deal

Misys&#39 members will be given early access to Friends Provident&#39s new online underwriting system which the life office claims will drastically reduce the time it takes to process protection applications from weeks to minutes.

The network&#39s advisers will be able to use Friends&#39 underwriting process which aims to give 60 per cent of all cases immediate decisions on life, critical-illness and waiver of premium applications.

Its 6,600 advisers will have a time advantage on the rest of the market for protection if they place business with Friends.

Full details of the service will not be announced until a formal launch in August but Friends hopes to get all its menu of benefits on to the system by the end of this year.

Misys says the deal means its members will be able to place clients on risk in minutes rather than the 20-plus days it can take.

Friends managing director Ben Gunn says: “Misys is an important distributor for the protection market and the opportunity to work with them on this important initiative will provide us with invaluable feedback before we undertake a full rollout.”

Misys member Life Policies Direct director Jason King says: “In a market which is very price-driven, we would be more likely to recommend a provider which can transact business efficiently.”

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