View more on these topics

Royal Liver to add virtual underwriter Q&A tool to website

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

The firm is also revamping its website, to go live on October 22nd, but the virtual underwriter element should be added to the current site on Monday.

The tool will allow advisers to enter 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 received around 40,000 calls from advisers, of which approximately 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 such as Lifesearch say the virtual underwriter will be useful as a training tool for new recruit who are unfamiliar with protection whereas less specialist IFA’s, who may submit as few as 20 protection applications a year, say the general questions will be really useful.”

Recommended

50 Staff will lose jobs as Victoria fails to find buyer

Victoria Mortgages has confirmed it will be making 50 employees redundant after its administrator KPMG failed to find a buyer for the lender after several weeks of talking to interested parties.The move comes as Unity Homeloans has admitted it will be cutting jobs after its board took the decision to restructure the business and outsource […]

Investment matters

There are around 30 funds in the UK retail fund universe that use ‘alpha’ in their name while some reports encompassing offshore funds suggest there have been some 170 such portfolios launched in the last three years. Several more funds about to join the club come from Standard Life Investments, Insight and Schroders. SLI intends […]

Platform appoints new head of credit risk

Platform has appointed Piero Bassu as head of credit risk within the company’s risk and compliance department. Reporting directly into Platform’s director of risk and compliance Alexia Antoniou, Bassu is tasked with managing the credit risk team responsible for supporting the business strategy and ensuring Platform’s risk appetite is reflected in business activities.Bassu worked at […]

2015: a divergence in economic policy?

As the US continues to confound growth expectations and the eurozone’s ‘will they, won’t they’ saga has finally concluded, what are the implications for global markets? James Dowey, Neptune’s chief economist, puts forward his outlook for 2015 and the key considerations for investors.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment