Directly authorised advisers who are members of TMA will be given access to the LifeQuote protection application system.
In February TMA’s parent company LSL Property Services took a 60% stake in Direct Life and Pensions which owns the LifeQuote system.
Advisers will be able to use the telephone and online application services when submitting protection cases.
The service includes an insurer product comparison tool allowing advisers to research, share and justify product recommendations to clients.
Decisions in principle can be sourced to provide an indication of terms from all insurers before an application is submitted through its universal application system which provides a streamlined system for all insurers and products.
And case tracking of applications is provided through automated messages and progression notes from the case management team.
‘Technology will be crucial post-pandemic’
Lisa Martin, development director at TMA, said: “Even after the pandemic subsides, technology will continue to be crucial for helping advisers navigate the protection process in the digital age, ensuring that they can continue to protect more families.
“We are confident that our partnership with LifeQuote will be invaluable for brokers, as it will allow them to dramatically reduce the administrative burden involved in the protection process, and therefore provide them with more time to support clients.”
Neil McCarthy, chief commercial officer at LifeQuote, added: “We can deliver efficiencies in the protection sales process that allow advisers to focus on the sales advice and transfer all the protection administration responsibilities to us.
“We are looking forward to working with TMA to deliver an outsourced service that saves the adviser time, and reduces the business risk, leaving LifeQuote’s expert team to complete the protection policies that are so important to the customer, and their family’s financial resilience.”
