The system, called ‘OLP Connect', builds on Legal & General's existing OLP platform, and offers advisers the following:
Real time visibility - a clear view of the progress of all an adviser's applications, wherever they are in the process, seven days a week
Greater ease - the ability to quote and apply for up to 40 product variations from its protection range on one application
Faster service - improved point-of-sale underwriting means quicker approvals
End-to-end control - total control of every protection case right up to on risk
Bernie Hickman, Legal & General's Managing Director of Protection said: "OLP Connect represents a major new investment for Legal & General to make advisers' lives easier by opening up our whole back office system to them. We've thought through every aspect of the end-to-end customer journey, especially when extensive medical underwriting is required, and worked out how to use the technology to make the process as easy as possible for advisers. Everything about the system is designed to make doing business with us simpler, faster, more efficient and with a greater degree of visibility and control. For the first time, advisers will be able to log in to monitor and progress applications without having to keep phoning us up."
OLP Connect is currently being rolled out in phases with various partners throughout 2009. The initial user group included LifeSearch and Direct Life & Pensions, and is now available to the rest of the IFA market.
Also coming on board in Q2 will be the first of Legal & General's banking partners. Further banking partners will have access in the summer of 2009 and use by appointed representatives (members of Legal & General Partnership Services Ltd, the mortgage network) is currently planned for Q3.
Bernie Hickman added: "Our aim is to make the overall adviser and customer experience as easy and efficient as possible. We are constantly looking for ways to improve the scope and functionality of our new business system so expect further announcements throughout the year as we add new features and make more products available online."