Victorian-based Plan for Life Actuaries & Researchers has launched a free trial for dealer groups and their advisers of its new online life insurance quotation service.
Designed to minimise the time advisers spend sourcing quotations from various life insurance providers, Risk Online will enable advisers to access and compare accurate quotations from a range of providers nationwide from the one location.
Quotations for a range of cover options, including life, total and permanent disablement, trauma, child, income protection and business expenses, will be available.
The free trial, which commenced yesterday, will run until the end of October, after which time it will convert to a relatively low-cost subscription service.
Plan for Life managing director Simon Solomon said the service was designed to reduce the time and money dealer groups and their advisers expend on obtaining, installing and using various life insurance providers’ quotation systems on their recommended/approved lists.
He said the user-friendly service, which enables providers to print off quotation reports in PDF format, should also reduce the costs associated with learning how to use — and train others on — a range of different systems.
The pre-launch trial initially provides access to quotes from Asteron, AXA Australia, CommInsure, ING Australia, St George, Tower and Zurich, but Solomon said other providers will be added shortly.
Solomon said Risk Online differs from other life insurance rating systems in that it provides actual quotations, as opposed to estimations. He said even where estimations prove accurate, most providers insist on actual quotations accompanying their proposals.
Solomon said Plan for life will continue to develop the service. Next on the agenda is a ‘product finder’, a feature that will display companies, products and options tailored to advisers’ stated requirements.
