AdviserLogic has upgraded RiskLogic, its life insurance quoting and comparison module, giving advisers an enhanced qualitative analysis of product feature strengths and weaknesses in addition to the existing score-based comparison.
AdviserLogic head of product development, Daniel Gara, says the new dataset, provided by Omnium, makes life much easier for the adviser when researching options for clients, and also efficiently producing a compliant Statement of Advice (SOA).
“The enhanced analysis allows advisers to pinpoint feature-based strengths and weaknesses and enables them to have qualitative information at their fingertips, especially when explaining to clients why one product is better than another and how features within products differ,” Mr Gara said. “Previously, this was measured by a score, now advisers have an actual reason as to why a product is better – something they have formerly had to find on their own.
The enhancement will be rolled out over the coming weeks and is a major precursor to the release of legacy product comparison due in the coming quarter, Mr Gara said.
“Our obsession is making life easier for the adviser – we are continually developing and refining our software based on feedback from advisers to make sure their whole practice is compliant and efficient. These frequent refinements to our tools are helping us make this happen.”
Omnium director, Dr David King said, “We believe the strengths and weaknesses data equips advisers with a powerful way to compare products, providing them with the information they need to justify product recommendations when creating SOAs.”
AdviserLogic is the winner of the Ease of Use Award in the 2014 Investment Trends Planner Technology Report.
