The Exchange has launched a new straight-through processing proposition in conjunction with Focus Solutions’ multi-channel advice point of sale solution.
The STP offering will be targeted towards product providers and key distributors with Focus and The Exchange now being able to provide major insurers, lenders, adviser and banking organisations with an integrated technology platform.
The data can be pre-populated from the client fact-find through to online quotes and application forms producing a suitability report personalised to the client.
Benefits to distributor firms include a streamlined solution, pre-population of data only needing to enter minimal client data once and re-use throughout the sales cycle, a single user-interface and navigation – making life easy for advisers and the maintenance of panels for multi-tie arrangements to help minimise ongoing support costs.
The Exchange managing director David Child says: “This really is a case of two plus two makes five with the undoubted leaders in their respective fields coming together to create a market leading proposition. Exweb and Exweb broker, our established adviser portal services, already provide thousands of adviser firms with seamless access to online services from more than 50 major providers with over 300 products now available online.
By teaming up with Focus and combining their expertise in point of sale solutions with our own dominance in the portal area, we can now provide a very compelling new market proposition.
Focus Solutions propositions manager Darren Bayley says: Our solutions are aimed at the enterprise market covering providers with controlled distribution (tied or multi-tied), building societies, corporate intermediary IFA networks and bancassurers. Most clients using these solutions tend to be have significant distribution channels writing high volumes of business which needs to be automated and streamlined. Now that we have completed the integration with Exweb our new PoS customers will have access to greater efficiencies and improved functionality.