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Old Mutual Wealth joins UnderwriteMe quote comparison service

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Old Mutual Wealth has joined the UnderwriteMe quote comparison service, providing advisers with online access to fully underwritten quotes for its protection offering, Protect.

The UnderwriteMe service provides advisers with an alternative to the practice of submitting multiple applications at one time.
 
It offers an end-to-end application journey which requires the adviser to answer a full medical question set agreed between all providers and reinsurers, allowing it to return either a guaranteed underwritten premium based on the answers given or an indicative cost and an instruction for further medical evidence.
 
The adviser is able to select the most appropriate provider with a more informed view of the cost of cover.
 
Paul Roberts, head of protection at Old Mutual Wealth, says: “Protection products have long suffered from a lengthy quote and application process, which can contribute to the customer apathy surrounding these insurances.
 
“For advisers it can be frustrating to quote a client based on an initial premium which then changes when the client’s health, occupation, past-times and general health are taken into account. The two ways to avoid this situation have historically been to submit several full applications at one time, which is very time consuming, or not to push for protection business at all. Neither is an ideal state of affairs for advisers in their quest for positive customer outcomes.
 
“Being included on the UnderwriteMe comparison service means our product will more easily be compared to our peers and provides the opportunity to strike up new strategic relationships with some of the largest writers of Protection business in the UK. Choosing a protection product should not be based solely on the price and we firmly believe Protect delivers outstanding value for clients.
 
“The beauty of the UnderwriteMe service is that it allows advisers to generate quotes for clients with greater confidence that they will accurately reflect the actual premium offered providing a better experience for both customer and adviser.”
 
Phil Jeynes, head of sales and marketing, UnderwriteMe, adds: “We’re thrilled to have Old Mutual Wealth join UnderwriteMe. They have an excellent product set and an established brand, which will add yet more value to our digital, point of sale system. We welcome Old Mutual Wealth to the protection revolution and expect our partnership to be a long and successful one.”

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