IRESS’ advice and wealth management platform XPLAN has been named the leading risk software solution in the 2015 Investment Trends Planner Risk Report for the third consecutive year.
XPLAN received the highest overall satisfaction score and led in eight out of nine other categories.
The 2015 Investment Trends Planner Risk Report found XPLAN remains the most widely-used risk software: 59% of planners who use risk software use XPLAN, up from 53% in 2014.
In addition to receiving the highest overall satisfaction score, XPLAN ranked highest in eight of the nine other categories. The categories XPLAN was named number one in by advisers were:
· Overall usefulness
· Integration with insurers’ application process
· Range of data feeds available
· Retrieval of insurers’ binding quote documents
· Qualitative research
· Quantitative research
· Range of products researched
· Timeliness of publishing product enhancements
· Accuracy of premium quotes.
IRESS chief executive officer, Andrew Walsh, said insurance continues to play a greater role in financial advisers’ businesses and XPLAN continued to respond to meet growing and changing needs.
“In the past year we have seen advisers increasingly focused on achieving greater efficiency in their practices, and the right technology to help them achieve this.
“The report reveals the key concern for advisers has shifted to the level of paperwork and administration required (75% of advisers) and compliance obligations (rising from 41% to 63% of advisers). This sentiment was also reflected in the improvements sought from software, with data feeds from life insurers being the most commonly desired improvement in 2015.
“Initiatives such as data feeds and quote validations are beginning to become more commonplace and we are committed to delivering further enhancements to help advisers help their clients.”
Source: IRESS
