In its first joint venture with The Exchange, the technology solution aims to provide advisers with a seamless application process for mortgage, general insurance (GI) and life cover business.
1st said it hoped AEME would allow it to move into the mortgage adviser market, having previously offered systems to IFAs, and it believed it could help join up what it saw as a fragmented application process with a single system.
David Child, managing director of Vertex life, pensions and distribution, said: “The development of AEME has been made possible by bringing together two adviser organisations and harnessing their joint expertise in terms of software design and core market experience. Additionally, by working closely with advisers and understanding their needs, we were able to optimise the design of AEME – ensuring the efficient and effective delivery of advice and sales support.”
1st believed its system would reduce the level of re-keying for brokers by retaining information from the application to be used in GI submissions.
It also insisted that with the regulator cracking down on compliance, a system which supported the broker was essential.
David Mead, managing director of Flexible-mortgage.net, commented: “Anything which requires one input instead of three is a benefit. Most brokers spend a lot of time inputing data so if something can save two-thirds of the time, that’s great. 1st has a good reputation for client relationship management and looking after your existing clients in the current market is very important.”
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