The move is part of a campaign to drive up insurance sales through the intermediary channel.
The system enhancements mean it will be easier for advisers to place insurance business with Abbey when submitting a mortgage application. The Introducer Internet system can also be used when submitting stand-alone general insurance applications.
Introducer Internet will now enable advisers to click directly from the existing quick quote screen for insurance to a full online application form, with the client’s data being automatically transferred. Once the payment details have been confirmed the application can be submitted online right away, or saved for submission later.
Intermediaries and their clients will benefit from a quicker turnaround as the premiums and any underwriting terms can usually be confirmed within the hour. If the general insurance application is in connection with a new Abbey mortgage, there is no need to supply a start date for the policy- cover will begin automatically when the mortgage completes.
Ambrose McGinn, Director of Abbey for Intermediaries, said: “The streamlined online application process is aimed at helping intermediaries who are providing a mortgage and insurance service to their clients. The system makes it a faster, simpler process for everyone.
“We also aim to quash perceptions that insurance from lenders isn’t as competitive as other providers. The best deal isn’t always the cheapest deal- value for money and the scope and quality of the cover are extremely important, as anyone who’s ever been under-insured on a claim would agree.
“Abbey offers a comprehensive range of insurance products with a number of discounts, which means good value for money for the customer.”
The new process on Introducer Internet can be used to make applications for Abbey’s Peace of Mind Home Insurance and Paymentcare plans.
Peace of Mind
Peace of Mind home insurance offers no upper limit on the sum insured, for homes with 5 or fewer bedrooms on both buildings and contents, reducing the risk of clients being underinsured. No upper limit also means don’t have to work out rebuild costs or contents values for clients, or fill out paperwork to advise the insurer of any changes to the sum insured.
Abbey offers discounts of up to 32.5% on the cost of contents premiums for eligible customers.
Paymentcare
Paymentcare provides cover for customers who become unemployed through no fault of their own, or can’t work due to accident or sickness. They can select a combination of accident, sickness and unemployment cover, according to their needs. Paymentcare’s comprehensive cover includes conditions such as backache and stress and offers a back to work advice service.
To register to make full use of Abbey’s new online insurance applications process, intermediaries should contact their sales development consultant.
