The LifeQuote Protection service has been designed with your needs in mind:

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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: 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 In other words: 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 Helping you remain FCA compliant Saving lots of administration time by giving you instant 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 click the TRY IT NOW button on the home page, 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. As a company, we are here to aid you in getting the best results for your customers as quickly as possible with many unique tools and provider research and comparison documents available. If you have any questions or queries, the LifeQuote support team are on hand and available on the LifeQuote helpline LifeQuote provides the tools to enable you to build the best selection of products for your customers to ensure that what you are offering is competitive, cost effective, comprehensive and appropriate. The LifeQuote software will: Enhance the choice of products available to you and your customers Reduce your admin time, speed up recommendations and enhance customer relationships Simplify your existing research and compliance trail Boost your income by providing a wider range of relevant plans You will be given a unique 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 customer (2) A full list of all of the customers 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 customer couldn t be easier. Once you click the quote button for a new customer you will see the screen below. This screen is the gateway to quickly and easily delivering a compliant, appropriate and valuable proposal to your customer through many quotation tools of which most are completely unique to LifeQuote. 1) First off, enter your customer s 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) The MultiQuote tool will save you hours of research and deliver quotes from all of the providers across a broad selection of policies in a single request 5) Family Income Benefit allows you and your customer to consider the option of providing an income to dependants rather than a cash lump sum payment 4

5 6) 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, help the adviser to create the most appropriate solution 7) Intelligent Protection delivers you and your custome r with a bespoke menu based proposition based on your customers individual circumstances, automatically creating a detailed suitability text saving you hours of time in research and writing up your sale justification 8) Business protection offers you the platform to deliver quotes for Key Person Cover, Business Loan Protection, Partnership/Shareholder Cover and Relevant Life 9) Deliver individual benefit and split deferred Income Protection quotes instantly comparing multiple definitions The process of inputting your customer 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 customer 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 and Critical Illness Enter the required sum assured and term to generate single and joint life quotes our software automatically compares the cost of two single life policies against a joint life plan, with and without Waiver of Premium for each benefit selected. All quotes are then collated into one research document for your compliance file. 5

6 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 customer s needs and help you meet your regulatory responsibilities. It does this by using information from your customers regarding their current and future circumstances, their budget and stated protection priorities, and combining it with the 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 customer s needs means that you can present your customers with a prioritised list of options from which they can choose the best solution for them. As a result, the system also produces the customer 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 advisers 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 by 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 customer 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 quotes can be very time-consuming. At LifeQuote we have made it simpler for you to quote protection products as it is the only service able to compare multi-benefit plans, both against other plans and the keenest priced individual covers. 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 customer 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: Apply online your customer Telephone application Print application It's as simple as that! Quote+ Quote + is the latest innovation to create a real difference for LifeQuote users. If you choose the Quote + option you will be prompted to ask a few additional questions, enabling the Insurer s underwriting criteria to be taken into account when recommending a product. Thereby: Improving the relevance of Quotes Reducing the impact of loadings Dramatically improving completion rates Quote + is simple to use and leads to better conversions and saves you time. Getting up and running is simple: 8

9 You will be presented with a set of simple input questions relating to the client which once completed will show you each provider s underwriting status. You can print and save this as part of your compliance research before returning to the results or selecting the insurer you wish to apply to. The application then follows the standard process. The Underwriting Categories given will be one of the following: Comparative features. We have included comparative features of each policy/insurer to assist you in justifying any recommendation you make. For a Term and CIC quote, these are; Accepted < 1wk Shows the % of applications that over the last 12 months have, in Direct Life s experience, been accepted by the Insurer within 7 days of being submitted Number of conditions covered Shows the number of critical illness conditions covered Number of ABI+ conditions Shows the additional conditions covered by the Insurer, over and above standard ABI requirements % Claims paid Shows the annual percentage of claims paid by the Insurer And for a Term only quote, these are: Accepted < 1wk Shows the % of applications that over the last 12 months have, in Direct Life s experience, been accepted by the Provider within 7 days of being submitted Declined Shows the percentage of applications declined by the Insurer in Direct Life s experience Minimum rating Shows the minimum percentage increase should a rating be applied No. of GIO s Shows the number of Guaranteed Insurability Options by the Insurer 9

10 So, what does it do for you, the Adviser? It makes your customer s quotes more relevant based on their individual circumstances, and ensures the policy chosen is more likely to be accepted in the shortest possible time, increasing your policy completions. Therefore LifeQuote saves you time, aids compliance and maximises earning potential from writing protection business. A choice of application routes is available to you. Apply online. 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 provider s application there and then or you can send your customer an link to complete. Our dedicated team will transfer the information onto the provider s underwriting system, and call the customer where necessary for clarification of any disclosures. When you complete the application on behalf of your Customer: Once received, we will key the application into the provider extranet and call the customer should there be any disclosure clarification required The online application will be available to view on case tracking Your dedicated LifeQuote administrator will inform you of the provider s decision and provide regular updates should there be further underwriting required When you send a link to your Customer: Your customer receives an with a link to complete the underwriting questions. You will also receive a copy of this Once completed by the customer, we will key the application into the provider extranet and call the customer should there be any missing information The online application will be available to view on case tracking Your dedicated LifeQuote administrator will inform you of the provider s decision and provide regular updates should there be further underwriting required Express Underwriting. It can be frustrating when the rewards for a successful sale are lost time whilst you complete lengthy application forms and create 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 customer at a time convenient to them to complete 10

11 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 customer receive an confirming next steps Your case downloads and is now available to view on case tracking We will make a short service call to your customer approximately 24 hours before the appointment to confirm they are still available and ensure they have all the required details to hand, for example GP s details and any medication they may be taking At the agreed time we will then call and complete the application over the phone and submit it immediately to the provider The online application will be available to view on case tracking Your dedicated LifeQuote administrator will inform you of the provider s decision and provide regular updates should there be further underwriting required 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 non disclosure. Any customer 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. Your Dedicated Administrator At LifeQuote we are proud to offer you a personalised administration service that is dedicated to high quality care for your customers and ensuring that your applications go on risk as quickly as possible 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. We also keep you informed through regular updates and comprehensive case tracking enables 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 attributes 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. 11

12 Once the policy is on risk we will receive the commission from the provider (usually within 14 days) and we pay commission to you on the earliest subsequent commission run. We pay commission on the 14th and 28th day of each month. Post completion, we also follow up any cancelled DDMs, premium lapses, address changes and just about everything else. We work to strict standards and chase cases continuously to ensure they never fall off the radar. We also know the value of different ways of communicating with customers, using text reminders and working through to 9pm to reach customers at more convenient times. 'Decision-in-Principle' Tool This 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 customer that will reassure the customer, enhance your conversion rates, reduce NTU rates and declinatures and reduce the customer propensity to multi-prop which in turn saves you time and wasted effort. It will also, usefully, give you and your customer additional hard evidence for why you have recommended a particular provider. Online Case Tracking Online Case Tracking provides access to your customer 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 access 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 is received on that day. 12

13 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 providers. 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, the Virtual Office offers an advice centric, compliant, efficient, and effective delivery platform to ensure their customer s protection journey is fulfilled. 13

14 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 customer-centred solutions from all the major UK risk offices. It has grown to occupy this position by simply ensuring that placing business on risk is uncomplicated, commercially advantageous and time efficient. LifeQuote 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 company and has overseen the growth of LifeQuote to become the UK s premier online Quote and Compare resource. As part of our 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 customers to identify their own Protection needs and budgets, delivering a Decision in Principle tool, 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 could be 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 customers and provide the means to retain them as customers for longer. Call us today and we ll show you how bigger can be better. LifeQuote - Your personal Protection service. LifeQuote Friars House 52a East Street Chichester West Sussex PO19 1JG Telephone info@lifequote.co.uk Open Mon to Fri 8am to 9pm, Sat 9am to 3pm K: Development team/outbound comm s LQ User Guide April