Adviser software provider, Synaptic Software, has launched a portal service that automatically shows multi-benefit quotes for protection.
Available on its Webline portal, when requesting quotes for multiple standalone protection products, including life cover, critical illness and income protection, a multi-benefit option is now automatically included. This shows advisers whether there is a more time and cost effective solution available, by taking all the requested products under one provider’s multi-plan.
Advisers can also search specifically for multi-benefit products instead of receiving standalone product quotes at the outset. Generally, in order to access multi-benefit plan quotes, an adviser would need to run a number of additional separate quotes on a portal or contact each specific provider for details.
Multi-benefit quotes are automatically available on Webline from Bright Grey, Friends Life, Legal & General and PruProtect, with further insurers joining imminently.
Adam Byford, Managing Director at Synaptic Software Limited said: “Our multi-benefit tool brings greater simplicity to researching the most suitable protection product for clients. Not only does it show whether a cost saving can be made by taking a multi-benefit plan, but it also links straight to policy information to ensure product recommendations are on a like-for-like basis. It saves advisers’ time when researching protection products, but also means the client only has to go through one application and one set of medical questioning if a multi-benefit option is chosen.
“Not enough advisers focus on protection sales, and not enough people buy protection products, so we need to make sure as an industry that the process of advising on protection is made as simple as possible.”
Donna Brenchley, eCommerce Director at Mortgage Advice Bureau said: “What Webline has developed is far in advance of anything else we have seen in the marketplace. The new functionality will allow our advisers to illustrate the benefits of a menu based product to their clients in a few simple steps. There has been increasing demand from our advisers who favour these product types and this new system meets all of these.”
The new service can be tailored for both restricted and whole of market advisers, and there is no additional subscription cost. Advisers and networks must ensure that they are subscribed to the most up-to-date version of Webline to receive the multi-benefit service. Those subscribed to Synaptic Software’s integrated Synaptic Fusion platform will also automatically have access to the new service. Businesses can also use a white-labelled version of the Webline engine to sit on their own internal or external facing websites.