Fintech firm Defaqto has added CIC Compare, a critical illness comparison tool, to its end-to-end planning solution Engage.
Using its historical data, Defaqto has scored the main critical illness definitions of policies dating back to 2009, meaning that the service can compare and contrast current products as well as earlier versions and closed plans. According the firm, it allows advisers to compare policies in ‘under five minutes on a whole of market basis'. Its scoring methodology, based on input from product pricing experts, focuses on definition quality rather than statistical risk, and scores are allocated on the likelihood of being able to claim for the condition in relation to iage and nsured popul...
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