Software and information supplierInvestment Data Technologies(IDT) will now offer general insurance research, quotation and electronic policy fulfilment capabilities as part of its financial planning software.
IDT says it is the first software company to offer this service to the planning market, after forming an alliance with electronic insurance policy delivery company NAQ Technology.
IDT client services executive Alison Burns says that at present, advisers are referring their general insurance work to other providers because they do not see the value for the amount of paperwork involved.
However, Burns says this puts financial advisers at risk of losing these clients, as insurance providers are broadening their own offerings into planning services.
Burns says the software upgrade, to be available by the end of June, will enable advisers to maximise the income they can earn from a particular client and assist them in better meeting clients’ needs.
Burns says that in pursuit of this holistic model, IDT is looking at including more elements in its software, including a mortgage module, online prospectuses and estate planning.
