Royal Liver Assurance is just weeks away from launching the UK's first virtual life office and a new distribution channel targeting IFAs.
Created as a paperless protection provider, the newest UK life company called progress from Royal Liveris an extension of the traditional Liverpool-based life office and is designed to reduce the pressure IFAs face with administration by conducting all business totally online. The concept of a virtual life office is already operational and generating business in the US and Canada, so Royal Liver's development team set out to build one for the UK market. Rather than follow the traditional business model, a team of just 20 staff asked advisers what they would like to see in a life compa...
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