Iress has introduced a new BMI feature in National Friendly’s income protection quotes to increase pricing accuracy.
- The integration aims to give brokers enhanced certainty concerning National Friendly’s short-term and accident-only income protection offerings.
- BMI data will now be factored into the quoting process within The Exchange platform, broadening available broker tools.
- This development supports partially underwritten quotes, ensuring transparency and reliability in sourcing products.
- Industry leaders from Iress and National Friendly have expressed optimism about the benefits of this enhancement.
Iress has taken a significant step by incorporating Body Mass Index (BMI) questions into the income protection quote process for National Friendly on The Exchange. This initiative is expected to enhance price certainty for brokers considering National Friendly’s short-term and accident-only income protection products by integrating height and weight within the quoting process.
This strategic enhancement allows brokers to have a more precise assessment of income protection options, broadening their ability to tailor insurance solutions for clients effectively. By including BMI criteria, the platform aims to provide a transparent and trusted approach for brokers when evaluating potential offerings.
Jacqui Durbin, global head of product for sourcing at Iress, emphasised the collaborative nature of the platform: “Our Exchange platform is where hundreds of product providers meet thousands of income protection brokers. We want to make it as easy as possible for all parties to work together and deliver the most appropriate, best value products to their customers. Adding BMI criteria to our Exchange platform gives the industry a wholly transparent and trusted way to source and consider National Friendly’s products. It’s good news for everyone.”
National Friendly joins other providers who offer partially underwritten quotes on The Exchange, moving towards a more refined and client-focused quoting system. This update aims to streamline the process, ensuring brokers can deliver enhanced service options to clients, thus expanding the scope of available protection plans.
Gifford Clay, head of intermediary sales at National Friendly, noted several advancements made to their income protection proposition over the year, including the reduced application journey time and the addition of optional Fracture Cover and Level Premiums. He stated, “These improvements, together with adding BMI quote functionality on Iress, will help brokers deliver a better service and offer more choice to their customers.”
The BMI feature inclusion marks a progressive step towards optimising income protection quoting processes for brokers.
