iPipeline has announced that critical illness (CI) is now available via its new indicative underwriting decision tool - XRAE, which is available to all Assureweb portal users.
Advisers can now source indicative ratings for both life assurance and CI making it even easier to manage client expectations up front at the start of the sales process around the cost of cover.
The service, which already has 6 providers live for Life Assurance, goes live with the introduction of CI from today, with LV= and Ageas, and it is available to all Assureweb users free of charge.
Ian Teague, managing director atiPipeline said: "If a client is non-standard, any conversation about the possible type or cost of cover that might be offered by insurers becomes more difficult. Expectations are difficult to set and the process can be in danger of falling apart. In a recent iPipeline survey of over 1000 advisers, 43% said they lost business as a result of this kind of situation, which is why we introduced XRAE."
He added, "Since the launch, we've been in constant contact with our users to get feedback, and we have introduced CI as a result of their need to improve the customer experience and more effectively set expectations."
Mike Farrell, head of protection sales at LV= said: "We are pleased to be supporting the latest enhancement to XRAE. As a provider of comprehensive CI cover we recognise that XRAE can add real value to advisers by introducing greater certainty about price at an earlier stage of the process".
Steve Casey, head of marketing and propositions at Ageas Protect added: "Intelligent quotations that provide greater clarity for customers are an exciting development in the protection market. We are pleased that advisers can now use XRAE to access applications for CIs cover. This makes life easier for advisers and enables them to manage their clients' expectations."
