Protection Guru has partnered with UnderwriteMe’s protection platform to help advisers meet the requirements of consumer duty.
Protection Guru will be shortly adding UnderwriteMe’s protection platform as a quotation and new business processing option within their Protection Guru Pro Quality, Price and Value research system.
It will cover life insurance, mortgage protection, income protection, and critical illness.
The partnership will hope to deliver "optimal adviser and consumer experience" to directly meet advisers’ new business obligations under the consumer duty rules.
UnderwriteMe commercial director, Mark Cracknell, said that the partnership is the next step in making the company’s protection platform a “unique” experience for advisers and their customers.
He added that the partnership is “pivotal” with consumer duty round the corner as it will "ensure" advisers are compliant while removing barriers, thereby making protection more accessible to them and their customers.
Way More Solutions managing director, Zoe Priselac, stated that the partnership will enable advisers to take the most frustrating delays out of the life insurance new business process.
According to Priselac, this will allow client to be given underwritten premiums with no prospect of "nasty surprises" and get cover into force the same day when needed.
“This will be absolutely game changing for those advisers who use it,” she added.
Protection Guru founder, Ian McKenna, commented: “Our partnership with UnderwriteMe uniquely provides advisers with a solution that can meet two major protection new business obligations for consumer duty.
“The ability to include an assessment of value, based on quality and price and, in addition, present a client with a comparative personalised underwritten price at the time of advice.”
McKenna added that this announcement represented the first in a series of additional strategic integrations it is putting in place to enable protection on mortgage and wealth advisers to give the best possible advice on plans.
“The protection gap can only be fully addressed when we make it easy for advisers with different specialties to provide comprehensive advice and get plans in force in minutes rather than weeks,” he added.
tom.dunstan@ft.com
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