Integration aims to simplify the process for advisers' protection sales
Fintech platform providers 360 Dotnet and UnderwriteMe have announced a partnership that aims to streamline the protection sales process for advisers.
The collaboration integrates UnderwriteMe’s Protection Platform with 360 Lifecycle.
With over 6,000 users using 360 Lifecycle, the platform has facilitated over £50 billion in mortgage lending, handling a staggering 180,000 cases annually. In the year 2022 alone, an estimated 80,000 mortgages processed through the platform lacked accompanying protection plans, underscoring the potential vulnerability of individuals without adequate coverage.
Advisers using UnderwriteMe’s Protection Platform can now transfer client data, underwriting decisions, and both standard and underwritten premiums directly to 360 Lifecycle in a matter of seconds.
There is no extra cost to users of 360 Lifecycle, with the Protection Platform being provided free of charge.
“Advisers must balance budget constraints with underwriting considerations when giving advice which poses significant challenges,” said Ozgur Unlu (pictured), chief executive at 360 Dotnet. “Complications arise due to the unpredictable timelines associated with acquiring medical reports required for underwriting assessments, which can vary among different insurers.
“Introducing this groundbreaking integration has created the capability to assess fully underwritten pricing against any lending the client is considering. The transition from the initial client consultation to policy issuance has arguably become the fastest process available within the market.
“With the incorporation of Consumer Duty regulations, this integration provides advisers with an additional valuable resource. We are pleased to have another significant integration partner on board and make these enhancements available to advisers using both platforms.”
Mark Cracknell, commercial director at UnderwriteMe, commented: “We are delighted to announce UnderwriteMe’s integration with 360 Lifecycle. This creates a unique proposition by providing the ability to obtain fully underwritten premiums quickly and seamlessly alongside mortgage advice.
“I look forward to working with both existing and new intermediary partners to demonstrate the value of this partnership.”
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, Twitter, and LinkedIn.
