Risk Placement Services has added income protection to its online portfolio of products for non-standard customers, in a bid to minimise the consumer protection gap.
RPS believes the income protection (IP) gap is partly caused by product complexity and long applications, but it claims it can help overcome this by sourcing the most appropriate products from insurers on behalf of advisers and enabling advisers to obtain quotes using one online application. At present, RPS says the cost to insurers of quoting for non-standard cases can make non-standard business less commercially sound, so the firm attempts to save insurers money by gathering the financial and medical evidence required and making it accessible online. In addition, the firm says it is...
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