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Progress offers IFAs a virtual underwriter

Progress by Royal Liver is adding a virtual underwriter tool to its website which aims to efficiently answer any protection queries by advisers.

The firm is also revamping its website, to go live on October 22, but the virtual und-erwriter element is being added to the current site this week.

The website tool will allow advisers to type in a protection question from how pre-existing medical conditions will impact premiums to how to use trusts and Progress underwriters will provide an answer within an hour.

Underwriters will answer the most common questions on a screen on the webpage while less common questions will appear in print or be emailed to the adviser.

Last year, Progress underwriters got around 40,000 calls from advisers, of which about 10,000 or 25 per cent were not case-specific. The firm felt an online Q&A-style tool could efficiently deal with these queries, saving advisers time.

IFA market manager Andy Milburn says the tool will likely be used in two ways.

He says: “Specialist protection advisers say the virtual underwriter will be useful as a training tool for new recruit who are unfamiliar with protection whereas less specialist IFAs, who may submit as few as 20 protection applications a year, say the general questions will be really useful for them.”


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