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Protection policies online from Friends

Friends Provident has set up an online underwriting service for protection business through major portals such as Assureweb and the Exchange.

Friends says the eSelect Protection system will give immediate online underwriting decisions for cases where no further medical evidence is required, which is estimated to be more than of 60 per cent of cases, cutting the process down to minutes. IFAs are kept in touch with progress throughout the process and can print out a policy document.

The system will also enable IFAs to write policies under trust by providing trust forms online for completion and submission, complete and submit online supplementary health and occupation questionnaires, and ensure on risk life cover at exchange of contract for mortgage cases.

Head of protection marketing Peter Hamilton says: “We recognise that technology on its own will not transform a business and that there are many IFAs with many different sales processes. We hope, however, that this will be seen as a major boost for IFAs, improving service standards and giving them greater control over the processing of their new business.”

Life Polices Direct managing director Jason King says: “Friends Provident has broken new ground with eSelect Protection online as acceptance terms are available online and we are even able to print off and send out GPR requests and policy documents ourselves.”


Selestia hits out at FSA menu proposals

Fund supermarket Selestia has criticised the FSA&#39s menu and depolarisation proposals, saying they will serve only to confuse consumers. Selestia says the proposals do not offer any compelling evidence to support the FSA&#39s claim that its alterations and menu will provide clarification. It also pours scorn on the lack of detail about how market averages […]

Abbey axes annual bonuses

Abbey has admitted that no annual bonus will be paid for the with-profits policies of Abbey National Life, Scottish Mutual and Scottish Provident except where guaranteed rates of bonus apply. Terminal bonus rates will also be reduced for unitised and traditional with-profits policies from March 2004. Abbey says the stockmarket recovery has been too short […]

Gasparro joins Threadneedle

Former Schroders retail chief David Gasparro has joined rival Threadneedle to co-ordinate the group&#39s retail strategy for the UK and Europe. Gasparro, who left his role as head of investment products last September, becomes head of retail responsible for overseeing growth in areas including France and Switzerland, where Threadneedle has recently launched businesses. He will […]


The Diary would like to warn readers against becoming too enthusiastic at conferences. It seems there was more going on at the Funds Network IFA Forum in London than just the usual fund manager chit-chat. The delegates got rather carried away with the conference&#39s Superstars theme. Things got so competitive that First State&#39s Richard Jones […]


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