CIExpert is integrating its critical illness (CI) cover comparison service and insights with Synaptic’s Pathways and Webline technology platforms.
The partnership aims to use both companies’ technology to simplify and streamline advisers’ workflow so to significantly reduce the time spent on research.
They also intend to provide the capability to visualise and quantify the trade-off between quality of CI cover and cost to ensure they are assessing “fair value” and best client outcomes, as set out in the Consumer Duty.
Synaptic users will now be able to access CIExpert’s full range of current and historic comparison services, Insurer Insight Zones, as well as claims and product information – allowing them to access premiums and underwriting terms, compare quality and apply.
Advisers using the Pathways platform or Synaptic’s Webline can now transfer client and quote data through to CIExpert for analysis.
The navigation is designed to streamline the workflow and reduce the amount of time spent on research and make the journey much quicker, the provider said.
Quote information is displayed alongside CIExpert’s quality rankings so price and quality can be assessed simultaneously.
Detailed research is combined with an algorithm using advanced technology to create an index personalised to a client’s specific needs.
The client’s age, gender, smoker status and how many children (by individual age) are all taken into account, together with the sum assured so that the value over the plan term can be understood.
The integration includes:
- Compare Synaptic quotes in parallel to CIExpert’s quality rankings, fully integrated into the user interface
- New CIExpert underwriting feature to help advisers identify indicative underwriting quote variations, highlighting whether cases have been accepted on standard terms, rated or declined, with standard or rated premiums, as well as the overall percentage increase in premiums
- Automated transfer of client details when switching to CIExpert
- Synaptic users can access CIExpert’s children’s cover analysis as part of their assessments
- Compare historic plans dating back to 1991 with all current critical illness plans
- The ability to apply directly from within the CIExpert workflow
Alan Lakey, director at CIExpert, (pictured) said: “Advisers tell us time and time again that our simple user flow and clear presentation of information are crucial in helping them to convey to their clients the salient issues when dealing with some of the complexities involved with critical illness cover.
“This seamless integration with Synaptic is another step forward in supporting advisers; saving them valuable time, streamlining efforts and importantly making it simple for them to compare price and quality in parallel.
“Experience has proven that once clients understand the trade-offs, a large percentage will opt to pay a bit more for wider and more comprehensive cover.”
Steve Ferguson, head of product and architecture at Synaptic, added: “When we embarked upon the development of our Pathways platform we recognised that firms will be increasingly reliant on the benefits of technology to streamline their businesses and improve their service to clients.
“We are delighted to join forces with CIExpert and create an even better user experience through this integration.
“Getting a clear grasp on the differences between protection products is no easy task and by combining our strengths we have created a strong solution for advisers with a simple streamlined process to help them in achieving the best outcomes for their clients.”