Scottish Widows is set to add its life, critical illness and income protection products to iPipeline’s Advanced Underwriting platform.
The move makes Scottish Widows the fourth provider to commit to the platform, joining The Exeter, Vitality and Zurich, and reflects growing momentum in the protection market.
Advanced Underwriting was launched to advisers via SolutionBuilder in September and was developed in collaboration with advisers.
The platform captures upfront information to assess the 20 most common medical disclosures, which typically account for up to 80% of medical loadings and changes to terms after application.
INFORMED CHOICES
By providing earlier indicative underwriting decisions, the technology aims to deliver faster, more reliable protection quotes, helping advisers improve efficiency and client outcomes.
Scott Cadger, head of product, underwriting and claims at Scottish Widows, said: “Our overarching approach to underwriting is about being transparent, so customers and advisers alike can make informed choices when selecting and buying protection cover.
“The Advanced Underwriting proposition in SolutionBuilder allows customers with health disclosures to get a more accurate position of the cost of cover, reducing the chance of surprises further into the buying journey.
“It also supports advisers to have more tailored conversations around the right provider for that client.”
REAL CHANGE
Rachel Edwards (main picture), managing director UK at iPipeline, added: “We’re delighted that the number of providers using Advanced Underwriting is expanding and it’s fantastic to now have Scottish Widows onboarding to the platform.
“The engagement from providers has been terrific and as more join the platform, we are bringing real change to the protection market.
“It helps advisers provide a faster, more accurate service to their clients, making the protection journey not only quicker but more transparent, helping people to get the cover that they need.”
BETTER OUTCOMES
Siobhan Brookes, company director and mortgage and protection adviser at Folan Brookes Financial Consultants, said: “Previously, if there were some criteria that I need to check before submitting an application, I’d have to go through pre-application inquiries with each provider individually.
“Now with Advanced Underwriting I go to SolutionBuilder, input the information and immediately get an indication of what the quotes are likely to be. This puts me in a really great position in front of my client and produces a better outcome for everybody.”
