Webline and PMI provider Health-on-line have inked a deal that will enable IFAs' clients to get quotes or buy PMI 24/7 through their own websites.
IFAs using Webline will notice a new button link to the service through the PMI section of the service, a spokeswoman says.
The technology coupled with involvement of HOL part-owner Munich Re and permission from the overseer of the direct debit payments system, has resulted in a way for clients to obtain "on risk" cover before providing a signature.
The system works by obtaining a validation from the client, in a similar form to an "I accept" clickthrough.
It is also similar to purchase point systems used by retailers such as Amazon, the spokeswoman adds.
Clients are covered as soon as they sign up online, with HOL carrying the burden of risk until the actual signature comes through in the form of a direct debit mandate.IFAonline
‘Important to have an anchor’
Report to be written by TPR
Lack of innovation for solutions
Some 2,000 consumers affected