National Friendly has enhanced its income protection quotes by integrating BMI considerations.
- This development will offer brokers greater precision in pricing.
- The initiative is part of a broader enhancement strategy by National Friendly.
- Iress’s platform ensures transparency and cooperation between brokers and providers.
- The move aligns with industry trends towards partially underwritten quotes.
National Friendly has taken a significant step forward by integrating Body Mass Index (BMI) criteria into its income protection quote and apply service on Iress’ platform, known as The Exchange. This addition is expected to furnish brokers with enhanced price accuracy when dealing with National Friendly’s short-term and accident-only income protection products. By incorporating height and weight parameters, the quoting process becomes more precise and tailored, offering a more reliable tool for brokers.
Jacqui Durbin, global head of product for sourcing at Iress, emphasised the value of this initiative, highlighting that the platform serves as a meeting ground where hundreds of product providers connect with thousands of income protection brokers. The facilitation of seamless interactions between these parties is crucial, and the addition of the BMI feature aims to improve product sourcing and evaluation processes. Durbin remarked that this development offers a transparent and trusted method for considering National Friendly’s offerings, benefiting all stakeholders involved.
Gifford Clay, head of intermediary sales at National Friendly, outlined several enhancements made to the company’s income protection proposition this year. Notably, these include a streamlined application process, optional Fracture Cover, and the introduction of Level Premiums. Clay pointed out that the integration of the BMI quoting function on Iress is part of a suite of improvements designed to empower brokers to provide superior service and a broader range of options to their clientele.
National Friendly’s move to include a BMI feature in its quoting process places it among several other providers adopting partially underwritten quotes on The Exchange. This trend reflects a shift within the industry towards more nuanced and client-focused product offerings. The company’s actions demonstrate a commitment to evolving with the market and meeting the needs of both brokers and their clients.
The integration of BMI criteria into National Friendly’s quotes signals a forward-thinking approach in the income protection landscape.
