Protection technology business, UnderwriteMe, has been chosen by three intermediaries: Assured Futures, Tuto and Future Proof.
The UnderwriteMe comparison service allows intermediaries to compare “buy now” and estimated prices and complete applications using one process, without ever leaving the UnderwriteMe site.
The three new companies signed up will begin using the comparison service in December 2016, with further launches including the UK’s largest independent mortgage broker, London & Country Mortgages, planned for early 2017 and a version open to all intermediaries scheduled for Q1.
UnderwriteMe was initially launched with the UK’s largest independent protection advice firm, LifeSearch, and a direct-to-consumer implementation through Cavendish Online.
Commenting on the partnerships Phil Jeynes, head of sales and marketing for UnderwriteMe, said the UnderwriteMe comparison service has successfully demonstrated its effectiveness in simplifying the “old, fractured protection sales journey” for both consumers and advisers.
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“We’ve been left behind by sectors such as retail and general insurance, when it comes to our selling and buying experience. Imagine a retailer asking you to complete separate purchase journeys for each product in your basket, before being given an accurate price and you’ll recognise why the UnderwriteMe solution is so necessary,” said Jeynes.
Ian Sawyer, managing director at Assured Futures commented: The current process can be repetitive, time consuming and frustrating, so we have long been supportive of what UnderwriteMe have been building.
The comparison service is now at a point at which we can see real benefits in terms of efficiency and so we are delighted to be introducing it into our sales process.”
Currently, the UnderwriteMe Comparison Service includes the ability to quote, underwrite and buy
Protection from LV=, Royal London, Old Mutual Wealth, The Exeter, Scottish Friendly and Canada Life, with several further insurers in advanced talks to join.
Next logical step
Kim Bascombe, managing director of Tuto Money said: “UnderwriteMe seems to be the next logical step for the UK protection market and we look forward to seeing this proposition grow over the next few years.
“We look forward to seeing how this integrates into our sales process and what benefits it brings for the client journey and what our advisers can offer a client in the protection journey.”