Iress has added term and critical illness protection services to quote and apply product sourcing software The Exchange.
The move marks the second phase of its Features initiative following launch of the first phase in September 2021, which included an update enabling advisers to compare a set of 12 additional income protection (IP) product benefits and features in a single comparison report.
Features displays protection products by price and additional information on the depth of cover, as well as any other features.
Working with both advisers and protection providers, Iress added that it has identified the most important product features for both personal and business term and critical illness insurance.
The service is free for all Exchange users and allows advisers to perform like-for-like comparisons against all providers and create a single comparison report for these products.
Dave Miller, executive general manager, commercial at Iress, said: “As with income protection, Features for term and critical Illness gives advisers and their clients a far deeper understanding of what particular products are and how they differ from each other.
“By providing greater clarity and transparency around the many options available, we’re helping advisers provide the best advice possible to their clients.”