Since 2001 LifeQuote has been the preferred choice of professional IFAs and mortgage brokers.

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2 LifeQuote User Guide Advice made simple Putting extra life into your business Since 2001 LifeQuote has been the preferred choice of professional IFAs and mortgage brokers. Quite simply, it is the UK s leading specialist Protection service for Advisers, assembling the best experience and knowledge from the UK s Protection marketplace for you - the Intermediary. Created and maintained by Direct Life & Pension Services a subsidiary of Cardif Pinnacle Insurance Holdings (part of BNP Paribas), its purpose is to enable and enhance the sale of Protection products from all those available in the market across Life Insurance, Critical Illness Insurance and Income Protection. The LifeQuote Protection service has been designed with your needs in mind: In other words: It makes it easier for you to quote, compare and sell more tailored products to your clients It speeds up the quoting process making it simple and time-efficient for you and your staff. It researches the market constantly and provides you with up to the minute information and rigorous compliance support It is the only service capable of creating bespoke individual quotations. Through its Intelligent Protection tool it delivers a detailed protection fact-find using quote and apply software to establish priorities and generate a suitability text summarising your client's needs and demands. It has an acclaimed outsourced administration function giving you sophisticated customer relationship management via our call centre in Chichester leaving you the time to do what you do best build your business portfolio It provides you with the security of being part of one of the world s strongest banks with its management, compliance, audit, IT security and BCP procedures all regulated to the highest standards Making it easier and more efficient for you to make more money from Protection Making sure that you are FCA compliant Saving lots of administration time by giving you the best access to the marketplace and then doing all the laborious follow up work associated with it Providing clients with appropriately designed Protection products that cater for their needs All you have to do is visit enter your name, company and to get 28 days temporary access to it. Once you re satisfied it s for you, a simple application form is the next step. 2

3 Welcome to LifeQuote How to get the most from LifeQuote This is a guide to the core activities provided by LifeQuote. It can be used to get you on the right path to deliver the best result for your clients with further help and information always at hand from the helpline. It will hopefully resolve any questions that you need answering. However please do not hesitate to ask if anything is unclear. We will be happy to assist when you call This Guide is founded on the principle that our role is to help you to obtain the right advice at the right time, building the best selection of products for your clients and then comparing those options with the best comparable options in the marketplace to ensure that what you are offering is competitive, cost effective, comprehensive and appropriate. The LifeQuote quotation, recommendation and application software will: Enhance the choice and provision of products for your customers Reduce your admin time, speed up recommendations and enhance customer relationships Take your existing research and compliance resources to a higher level Boost your income by sourcing and selling a wider range of relevant products You will be given a username and password, this is your key to unlocking the potential of LifeQuote and once you have logged in you will be greeted with your dashboard. Here you will see (1) The quote button to start a quote for a new client (2) A full list of all of the clients you have quoted for and are in your pipeline and (3) Links to more essential tools and resources within LifeQuote. 3

4 Starting a quote for a new client couldn t be easier. Once you click the quote button for a new client you will see the screen below. This screen is the gateway to quickly and easily delivering a compliant, appropriate and valuable proposal to your client through many quotation tools of which most are completely unique to LifeQuote. 1) First off, enter your clients basic details needed to generate a quote. 2) Followed by additional details if you are quoting for Income Protection and/or using the Intelligent Protection quotation tool. 3) One of the many strengths of LifeQuote is the Intelligent Protection quotation tool this allows you to develop a quote that considers all contributing factors like household expenditure, dependants, how much sick pay they are entitled to and how long they can survive on their current level of savings. 4

5 4) The MultiQuote tool will save you hours of painstaking research and deliver quotes from all of the providers across a broad selection of policies in various formats. 5) Custom Multi Benefit provides busy Advisers with a unique tool to the market. Advisers are now able to compare packaged benefits against the most competitive individual prices available, providing invaluable research for them and their customers which in turn, helps the Adviser to create the most appropriate solution available to their clients. 6) Intelligent Protection delivers you and your client with a bespoke menu based proposition based on your client s individual circumstances, automatically creating detailed suitability text saving you hours of time in research and writing up your sale justification. 7) Business protection offers you the platform to deliver quotes for Key Person Cover, Business Loan Protection, Partnership/Shareholder Cover and Relevant Life. 8) And here you can deliver individual benefit and split deferred Income Protection quotes. The process of inputting your client s data gives you immediate access to a comprehensive range of products simultaneously, enabling you the freedom to recommend all, or a combination of them according to the client s needs and budget. MultiQuote Select one or more of: Level Term Life Mortgage Protection Life Index Linked Life Level Life Term and Critical Illness Mortgage Protection Life and Critical Illness Index Linked Life and Critical Illness Index Linked Family Income Benefit Family Income Benefit (Level) Family Income Benefit Critical Illness Enter the required sum assured and term to generate single and joint life quotes our software even automatically compares the cost of two single life policies against a joint life plan. You can then easily access the range of quotes from all the providers who offer these products. Intelligent Protection This intuitive software will support you in generating systems driven advice to ensure you consistently choose the best combination of products to satisfy your client s needs and help you meet your regulatory responsibilities. It does this by using information from your clients regarding their current and future circumstances, their budget and stated protection priorities, and combining it with the 5

6 standard rules within the system to provide you with a consistent approach to product selection, recommendation and justification. The system s ability to carry out simultaneous multi-benefit premium calculations based on the client s needs means that you can present your clients with a prioritised list of options from which they can choose the best solution for them. As a result, the system also produces the client specific text for your suitability letter to go alongside other regulatory documentation including illustrations and key facts documents. The Intelligent Protection software is designed to be used by advisors using pure protection contracts, such as: Level Term and Index Linked Term Insurance, Mortgage Protection, Family Income Benefit, Critical Illness Cover and Income Protection. Combined with LifeQuote s Quote & Apply system, Intelligent Protection gives you a complete quotation, recommendation and application package that will enable you to improve the cover you provide for your customers, and in the process build a stronger base for your business. This is a core offering of the intuitive software provided to IFAs within LifeQuote. It has been designed by people like you with the express purpose of enabling you to choose the best combination of products from a menu plan for your client with premiums calculated automatically based on algorithms which are built into the software designed to maximise value and your business s reputation. 6

7 Custom Multi Benefit As you may know, obtaining quotes for multi-benefit cases can be very time-consuming. At LifeQuote we have made it simpler for you to quote protection products as we are the only service able to compare multi-benefit plans, both against other plans and the keenest priced individual covers. Log in with your Adviser ID & Password and hit the 'Quote' button. Now you ll need to input some basic client details and employment information, then select the Custom Multi-Benefits option. Select the protection benefits you need from the menu on the left. In the middle box, enter the sums assured and terms for each benefit, and click save to create your custom quote on the right. Once you're happy, select quote at the bottom of the screen. Uniquely, we will then provide you with multi-benefit quotes for all the providers who can deliver what your client needs in one plan, as well as individual quotes for each benefit, allowing you to find exactly the right solution at the right price. 7

8 Choose the quote that you want, hit 'select' and LifeQuote will take you to the full illustration. You then have four application options: Complete the application form yourself online We can the form to your client We can complete the application via Express Underwriting on your behalf You can even submit a paper application It's as simple as that! A choice of application routes are available to you. Fast Track. This is a fast, fully online application option that can be completed within minutes of the sale. You are given the choice of completing the Insurer s application there and then or you can send your customer an link to complete. Our dedicated team will transfer the information onto the Insurer s underwriting system, and call the customer where necessary for clarification of any disclosures. When you send a link to your Customer Your customer receives an with a link to complete the underwriting questions and you ll also receive a copy of this When you customer completes the application it downloads immediately into the LifeQuote back office and is now available to view on case tracking We will key the application into the insurer extranet and call the customer should there be any missing information 8

9 We update you by and telephone and update your customer by telephone, , text and letter as a last resort. The online application will be available to view on case tracking When you complete the application on behalf of your Customer After you complete it, we will key the application into the insurer extranet and call the customer should there be any missing information We update you by and telephone and update your customer by telephone, , text and letter as a last resort. The online application will be available to view on case tracking Express Underwriting. Isn t it frustrating how the rewards for a successful sale are lost time whilst you complete lengthy application forms and increased risk through non-disclosure. Express Underwriting from LifeQuote overcomes both of these problems, making protection insurance easier to arrange. One of our team will call your client at a time convenient to them to complete all the relevant medical questions, leading to a quicker underwriting decision for the majority of customers, and immediate cover as an option for some. You and your customers receive an confirming next steps Your case downloads and is now available to view on case tracking We will make a short call to your customers to book the Express Underwriting call, or if its convenient for them we will complete the application then. If you have already arranged a time we will confirm this and if anything is missing obtain it there and then. At the agreed time we will then call and complete the application over the phone and submit it immediately to the Insurer We update you by and telephone and update your customer by telephone, , text and letter as a last resort The online application will be available to view on case tracking Our tele-interviewers are employed, trained and managed specifically for the role. They are picked for their professional yet friendly manner and the ability to accurately conduct and record the interview. They undergo extensive training and have to pass strict evaluations. What s more, all calls are recorded for evidence and evaluation ensuring consistent high standards and protecting you against the risk of a claim for nondisclosure. Any client misunderstanding of the products, your advice or any significant changes to the information we have is fed back to you, and by using our case tracking system you can see the information submitted so that you remain in control. We re here to complete the application quickly and safely for you. 9

10 Your Dedicated Administrator At LifeQuote we are proud to offer you a personalised administration service that is dedicated to high quality care for your clients and ensuring that your applications go on risk, and stay that way. How do we do this? Firstly, we allocate an administrator to handle all of your cases. Many advisors form a very strong bond with their administrator, who is only a phone call or away, and we also keep you informed through regular updates and comprehensive case tracking to enable you to view all your cases. So that you have confidence in your administrator s ability to perform on your behalf, we only employ people with the right qualifications and skills, and then train them for 6 weeks before they are allowed to handle any cases. Ongoing coaching and professional development ensures that they maintain the standards that you expect. Our administrators work in a team so that there is always someone available to cover absence, handle calls or s. An experienced team leader manages their work and audits their cases regularly. Once the policy is on risk we will receive the commission from the insurer (usually within 14 days) and we pay commission to you on the earliest following commission run, which are the 14th and 28th of each month. Post completion, we also follow up any cancelled DDMs, premium lapses, address changes and just about anything else. We work to strict standards, and chase cases continuously to ensure they never slip off the radar. We also know the value of different ways of communicating with clients, using text reminders and working through to 8pm to reach clients at more convenient times. 'Decision-in-Principle' Tool This is a single port of call designed to enable Advisers to source a medical, lifestyle, and in some cases, financial underwriting 'Decision-in-Principle' from the provider or providers you pre-select. It s a simple one-stop service that allows you to create a carefully assembled and proven advice profile for your client that will reassure the client, enhance your conversion rates, reduce NTU rates and declinatures and reduce the client propensity to multi-prop which in turn saves you time and wasted effort. It will also usefully give you and your client additional hard evidence for why you have recommended a particular provider. Online Case Tracking Online Case Tracking provides access to your client s documents for you to view, print, download and store. To access the document simply login to Case tracking, select Case Details. Then after choosing the case you are interested in pick Document from the side bar and you will be able to view, download and print the Quote, Key features, Online Application (the full application submitted to the Provider) and the Acceptance Terms. These will appear as soon as they are available for each case that we receive from today. 10

11 Virtual Office The Virtual Office solution gives you the ability to use LifeQuote but with your Protection cases submitted in your Agencies and with the full commission paid out to you directly by the Insures. How does Virtual Office work? We have agreements with all the leading UK protection providers to allow us to 'replicate/clone' an Advisers existing agencies & Terms of Business, to create a new Virtual Office agency with each of them. The only difference between an Advisers existing and new Virtual Office agencies is that the postal address, for administration purposes only, points to Direct Life & Pension Services Ltd. This unique solution allows Advisers, both Directly Authorised & Appointed Representatives to negotiate and maintain their Terms of Business Agreements with each provider. This new model allows the LifeQuote Portal to quote indemnity and non-indemnity models across Single Tie, Multi Tie, Preferred Panel and Whole of Market distribution. How much does Virtual Office cost? Monthly licence fee: per month per user Application Fee: 85 per case The 'Application Fee' will be applied to every case and will cover: The input of each application All provider underwriting requirements, full administration and tracking services of each application Putting each application 'on risk' As Advisers introduce new business models to create efficiencies in a post RDR world, the Virtual Office offers an advice centric, compliant, efficient, and effective delivery platform to ensure their client's protection customer journey is fulfilled. 11

12 LifeQuote, Company background LifeQuote was created by Direct Life & Pension Services as an expert portal for the life and protection marketplace in Since then it has grown to become the leading independent provider of straightforward, expertly sourced life insurance, critical illness and income protection solutions. LifeQuote is probably the definitive web based quoting platform in the UK, based on sourcing the most appropriate client-centred solutions from all the major UK risk offices. It has grown to occupy this position by simply ensuring that placing risk business is uncomplicated, commercially advantageous and time efficient. This is no bought-in system. The platform has been conceived, developed and built by Direct Life staff with in-depth experience of the Protection and Mortgage market. As the first interactive Protection quoting system on the internet, it created a stir and in August 2001 Skipton Building Society bought 75% of the business. As the Company expanded, it became the target of larger owners and in March 2008 the Company became a 100% owned subsidiary of Cardif Pinnacle, part of the global banking group BNP Paribas. In April 2010 Rob Quayle became the MD of the group and has overseen the growth of LifeQuote to become the UK s premier online Quote and Compare resource. As part of its commitment to the Protection marketplace we maintain a HQ and Call centre hub in Chichester with over 150 staff and deal with over 6,000 new applications every month. The software available at has been developed to provide Advisers with a full new business and customer relationship toolkit - from helping clients to identify their own Protection needs and budgets, delivering a Decision in Principle, allowing them to construct a package of benefits, compare menu solutions with bespoke solutions and provide click button convenient processing for suitability letters and demands and needs statements. LifeQuote is the missing link in your in-house research, admin and customer care team. We will help you make more money, provide a better service to your clients and provide the means to retain them as clients for longer. Call us today and we ll show you how bigger can be better. LifeQuote - Your personal Protection service. 12

13 Friars House 52a East Street Chichester PO19 1JG Open Mon to Fri 8am to 9pm, Sat 9am to 3pm K:Dev team/lq_cms/lq_user_guide_07_13 13