By extending TMA’s relationship with LifeQuote, this will allow directly authorised (DA) brokers, who register with TMA, full access to the LifeQuote Protection Portal. Created for busy advisers selling protection, the Portal delivers quotations and comprehensive ‘apply’ functionality supported with clear quote research output and suitability letters creating a seamless compliance trail, within a simple to use system.
Embedded into the LifeQuote Protection Portal is ‘Intelligent Protection’ a tool incorporating a detailed protection fact-find, quote and apply software, helping DAs to prioritise client’s protection needs and automatically generating a suitability text expressing the client’s exact demands and needs.
LifeQuote Protection Portal allows members a variety of application options for their protection business including a generic online application for most of the UK’s leading insurers, meaning they can use the same process to apply regardless of which provider has been chosen. It supports 12 of the UK’s top protection providers and is the only portal in the UK able to quote and compare multi-benefit plans.
It also provides access to an online case tracking facility showing all protection applications in one place in a common format complete with a free trust administration service for all portal users. It is free to use with no joining fees or monthly charges.
LifeQuote has dedicated a micro-site to TMA members which contains all the required instructions and support information. Members can follow a link directly from the TMA website - www.themortgagealliance.com. TMA is free to join and this offer is available to all directly authorised brokers.
Phil Whitehouse, Head of TMA, commented:“I have worked closely with the team at LifeQuote over the past few years and have seen intermediaries that embrace its life insurance proposition really benefit from the simple quote and apply system. In particular, the Intelligent Protection facility creates a fantastic opportunity for intermediaries to discuss a wider range of life products with clients and helps them to meet their regulatory responsibility.
“The LifeQuote method of dealing with life insurance products enables the intermediary to concentrate on the sales process whilst LifeQuote deals with all case administration. This creates more selling time for brokers and also creates some shelter from any possible non- disclosure issues. The enhancements to commission terms and system improvements will prove to be a great winner for our members.”
Neil McCarthy, Sales and Marketing Director at LifeQuote, added: “We are delighted to be working with TMA and their members. LifeQuote's key objective is to assist brokers in developing and maximising sales opportunities for protection. We are convinced that delivering the ability to up-sell a range of protection products whilst minimising the administrative impact will help TMA's partners improve both the quality and profitability of their protection sales.”
