The new service will be flexible enough for IFA firms to adapt for both ‘lighter-touch’ sales channels selling Sandler style stakeholder products and multi-tie operations post depolarisation.
The new service has been developed in partnership with Life Policies Direct to ensure that it meets the exact needs of IFA call centre operations. Life Policies Direct will also be one of the first users of the service, which will enable its call centre new business function to provide quicker service to customers and increase productivity levels.
Further demand is expected from other IFA call centre operations as well as non-financial services based retail organisations looking to launch into the market quickly and easily.
The call centre portal will enable quotations and electronic transactions for term assurance, critical illness and mortgage protection. IFA firms will be able to customise the service to meet their specific business requirements and benefit from the following functionality:
- Fast and accurate ‘real-time’ comparative quotations
- Limited re-keying of data due to automatic population of quote screens from IFA back office systems
- Electronic new business capability – enabling a quicker sales process and reducing administration cost through automatic transfer of data from quote screens
- Ability to create provider panels – essential for multi-tie organisations
- Group View facility – enabling each adviser to view all quotes done by any other adviser in the team
David Child, chief operating officer at The Exchange, comments:
“The proposed changes to the polarisation rules are likely to result in new breeds of distributor firm it is essential that the technology that supports the intermediary sector develops in line with any changes. Working with Life Policies Direct has helped us deliver a service that is tailored for the specific needs of call centre operations and can help them enhance the service they provide to consumers.”
Jason King, director at Life Policies Direct, comments:
“Consumers are increasingly expecting higher standards of service and as a result call centre operations need especially quick and accurate access to comparative quotes. The Exchange has always had the widest coverage of providers and this new service gives our advisers the quickest possible access to them.”
