A new, streamlined and faster way to buy Life Cover

At Royal London, we’re always looking for ways to make it easier to do business with us. That’s why we’ve partnered with Mortgage Brain to incorporate a streamlined version of our underwriting process into their quote and apply system, The Key.

Streamlined underwriting makes it easier to buy and sell our Life Cover by integrating the application process with your back-office systems. The data needed is gathered directly from the mortgage fact find and your clients are asked just six underwriting questions, with no additional underwriting required.

Project lead, Mark Ireland, explains exactly how the process works and why it could benefit you and your clients.

How does streamlined underwriting work?

“There’s a new set of questions available within the mortgage fact find on The Key. So if one of your clients is interested in protection, they just need to answer a few extra health and lifestyle questions and confirm their protection needs (for example the amount of cover and term of their plan) to apply.

Within minutes, you’ll get a quote and a guaranteed immediate decision sent to your Key account, making client expectations easy to manage. If your client wants to go ahead, you can then log on to the Royal London quote and apply system to complete the application, finalising their protection plan quickly and easily during your mortgage meeting. It really is that simple.”

What are the main benefits?

“The quick, simple process and immediate decision means you can have the protection conversation seamlessly during a mortgage meeting. This could lead to more protection sales and an increased income for your business.

And your clients spend less time answering health and lifestyle questions, making the whole process less invasive. The immediate and guaranteed decision allows your clients to get the cover they need in just a few minutes.”

Can all my clients use it?

“It’s available to all your clients who are considering taking out life cover as part of their mortgage application. However, the cover is limited to a maximum sum assured of £500k and clients need to be 55 years old or younger to apply.”

To find out more about how streamlined underwriting could help you grow your business, visit our webpage or watch our short animation.