Synaptic Protection Research allows brokers to research life and health protection products, and identify the right contract for clients using filtering to give an analysis of what the client needs from the product.
The tool integrates Webline, allowing users to conduct research, pre-populate quotation forms and apply for products in a straight-through process. It also provides full audit trails and suitability reporting automatically, aiding brokers with their compliance requirements in ‘Treating Customers Fairly’ (TCF). Research and analysis information can be electronically stored for future reference.
Simon Thomas, general manager of Synaptic, commented: “In an industry being driven by regulation and TCF, the need for compliant, auditable research is paramount.
“Not only has this product been designed to support compliance needs, but it will also help advisers improve their business efficiency. This will in turn drive productivity and will enable an adviser to offer a thorough service to their clients.”
Nick Baxter, managing director of Mortgage Promotions, said: “It will be hard to sell into the market, because brokers come in two types – those that do sell those products and those that don’t. Moving people from one category to the other is very hard.”
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