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Old Mutual Wealth Protect now available on  UnderwriteMe quote comparison service

07/09/2016

Old Mutual Wealth is delighted to announce that it has joined the pioneering UnderwriteMe quote comparison service, providing advisers with online access to fully underwritten quotes for its protection offering, Protect.

The UnderwriteMe service provides advisers with an effective alternative to the practice of submitting multiple applications at one time. It offers an end-to-end application journey which requires the adviser to answer a full medical question set agreed between all providers and reinsurers, allowing it to return either a guaranteed underwritten premium based on the answers given or an indicative cost and an instruction for further medical evidence.

Therefore the adviser is able to select the most appropriate provider with a more informed view of the cost of cover.

Paul RobertsPaul Roberts, head of protection at Old Mutual Wealth, comments:

“Protection products have long suffered from a lengthy quote and application process, which can contribute to the customer apathy surrounding these insurances.

“For advisers it can be frustrating to quote a client based on an initial premium which then changes when the client’s health, occupation, past-times and general health are taken into account. The two ways to avoid this situation have historically been to submit several full applications at one time, which is very time consuming, or not to push for protection business at all. Neither is an ideal state of affairs for advisers in their quest for positive customer outcomes.

“Being included on the UnderwriteMe comparison service means our product will more easily be compared to our peers and provides the opportunity to strike up new strategic relationships with some of the largest writers of Protection business in the UK. Choosing a protection product should not be based solely on the price and we firmly believe Protect delivers outstanding value for clients.

“The beauty of the UnderwriteMe service is that it allows advisers to generate quotes for clients with greater confidence that they will accurately reflect the actual premium offered providing a better experience for both customer and adviser.”

Phil Jeynes, head of sales & marketing, UnderwriteMe, added:

“We’re thrilled to have Old Mutual Wealth join UnderwriteMe. They have an excellent product set and an established brand, which will add yet more value to our digital, point of sale system. We welcome Old Mutual Wealth to the Protection revolution and expect our partnership to be a long and successful one.”

 

 

For more information contact

Tim Skelton-SmithOld Mutual Wealth02380 916 99807824 145 076tim.skelton-smith@omwealth.com
Sophie HeywoodOld Mutual Wealth02380 91677007834 499558sophie.heywood@omwealth.com

Notes to editors:

About Quilter plc:

Quilter plc is a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.

Quilter plc oversees £118.1 billion in customer investments (as at 30 September 2018).

It has an adviser and customer offering spanning: financial advice; investment platforms; multi-asset investment solutions and discretionary fund management.

The business is comprised of two segments: Wealth Platforms and Advice and Wealth Management.

Wealth Platforms includes the Old Mutual Wealth UK Platform; Old Mutual International, including AAM Advisory in Singapore; and the Old Mutual Wealth Heritage life assurance business.

Advice and Wealth Management encompasses the financial planning network, Intrinsic; Quilter Private Client Advisers; discretionary fund management business, Quilter Cheviot; and Quilter Investors, the Multi-asset investment solutions business.

The Quilter plc businesses are being re-branded to Quilter over a period of approximately two years:

• The Multi-asset business is now Quilter Investors

• Intrinsic to Quilter Financial Planning

• The private client advisers business is now Quilter Private Client Advisers

• The UK Platform to Quilter Wealth Solutions

• The International business to Quilter International

• The Heritage life assurance business to Quilter Life Assurance

• Quilter Cheviot will retain its name

This press release is for journalists only and should not be relied upon by financial advisers or customers.

Please remember that past performance is not a guide to future performance. The value of investments and the income from them can go down as well as up and investors may not get back any of the amount originally invested. Exchange rate changes may cause the value of overseas investments to rise or fall.

This communication is issued by Quilter plc.  Registered office: Millennium Bridge House, 2 Lambeth Hill, London EC4V 4AJ, United Kingdom. Registered number: 6404270.  Registered in England.