Liverpool Victoria has launched an online processing system for its mimi flexible protection plan.
The straight-through-processing system enables advisers to complete life, critical illness, mortgage payment protection and income protection applications online with instant acceptance and tracking facilities.
Advisers can produce illustrations, review previous business and obtain quicker decisions through ‘intelligent underwriting’.
Advisers can choose a ‘short’ or a ‘normal’ form:
- The short form means advisers only need to enter basic information about their clients and, once completed, the application is referred to a telephone interviewer who will contact the customer to complete the risk and medical questions;
- The normal form offers advisers a 10% commission uplift and requires them to complete the basic risk and medical details on behalf of their clients.
Stuart Tragheim, director of intermediary business at Liverpool Victoria, says: “Any technology that can be put in place to speed up policy applications is a positive step and the ease and breadth of choice of cover through the mimi flexible protection plan means advisers can find quick and individual solutions to their clients’ meeds.”
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