OLTA allows IFAs to submit applications directly into Legal & General’s back office processing system and in many cases generate an instant underwriting decision.
The addition of OLTA to 1st Software’s Adviser Office system means IFAs can speed up the processing of cases further as client information already held on 1st Software will automatically be pre-populated into Legal & General’s application.
1,050 IFA firms and 10,000 users have access to the1st Software system. This additional feature of the system is provided free to IFAs.
70 per cent of applications for Legal & General’s term assurance from IFAs are now submitted using OLTA.
Graham Newitt, Legal & General’s Managing Director Intermediary Solutions said, “OLTA is already very popular among IFAs for its seamless and speedy input of applications to our back office system and its automatic online underwriting. Adding it to 1st Software not only makes OLTA more efficient for a large number of IFAs, it also helps drive more costs out of the process for end users.”
Mick Harris, e-Business Relationship Manager at 1st Software said, “We are committed to helping IFAs drive costs out of their business. By automatically linking to OLTA and its pre-population from the client database in Adviser Office it will help to save time and improve profit margins.”
To use OLTA, IFAs need to register online with Legal & General’s IFA Centre at www.legalandgeneral.com/ifacentre.
