BT's LifeCENTRAL+ can now produce quotes for financial advisers wanting to alter life insurance policies for clients in less than 10 minutes.
BT has introduced a new self-service functionality for advisers, providing a quote for the most commonly requested changes to in-force policies, such as the sum insured, optional benefits and frequency of premium payments.
The in-force functionality is available for most eligible single life insured and stepped premium
protection plans policies, BT life insurance head of adviser distribution Steve Craig said.
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"An adviser can be on a phone or video call with a client, conducting a review of their life insurance needs, and obtain a quote right there and then. This can help the adviser and client make decisions on updating policies with minimal delay, resulting in a better client experience and more efficient process for the adviser," he said.
In the last 10 years, BT's life insurance offering has introduced electronic medical certificates to simplify claims processes for claimants.
Over the period, Craig said the tele-claims offering has also grown.
As most new claims across income protection, trauma, life and terminal illness policies now being processed over the phone, this removes the need to fill out forms and reducing the turnaround time to approve claims and process payments to clients, he said.