Launched in 2008, with the software rapidly becoming a market-leading system, advisers can use OLPC to manage the full application journey, with a clear overview of each application’s progress.
The functionality improvements follow on from Legal & General’s launch of the next generation of OLPC in June. Advisers now have the option to hand off aspects of the life insurance application to their clients, so they can answer some extremely important questions themselves, accurately, and in their own time.
Customers can now fill in health and lifestyle questions at their own convenience, rather than during a meeting with their adviser, which can often be a lengthy process. The adviser can still view their clients actions on the system, so if necessary they can help support them through the process.
In addition there are improvements to the electronic ‘Confirm Your Details’ (CYD) process, which lets customers review, correct and confirm their details after the application has been completed. The process can now be carried out online and is simpler to complete in recognition of how important the CYD process is, both in improving adviser’s business quality and ensuring their clients are not misrepresented.
Any minor changes customers make to their health questions via the CYD will usually receive an immediate, automated underwriting decision. These changes give both advisers and customers greater control and flexibility and ultimately this means a greater chance of their claim being paid.
Finally customers will also benefit from a much improved My Account registration process with a shorter customer journey, so accessing their important documentation is simpler.
Steve Bryan, Director, Intermediary, Legal & General, said:
“At Legal & General, we are constantly trying to find ways to make life easier for advisers by giving both them and their clients more control over the insurance application process. The protection gap is a serious problem facing individuals across the country. By making this update to the OLP Connect software, we hope that more people will be encouraged to take out protection if we can show that the process for doing so is less onerous.
“We are committed to ensuring advisers and consumers have the tools and information they need to make the right decisions when it comes to reviewing their life insurance cover, and we will continue to listen to the feedback of advisers to help improve the customer journey and develop further enhancements to make life better.”
