Home Industry News Online point of sale business for general insurance on OLP connect

Online point of sale business for general insurance on OLP connect

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The ability to quote and apply for household insurance or mortgage payment protection insurance is now available on Legal & General’s cutting edge, online point-of-sale business system, OLP Connect. The service which is the first in the market to offer a ‘one stop’ solution for customers’ general insurance and protection needs is available to try at www.olpconnect.com.

Building on the OLP Connect service launched in April which provides advisers with the ability to quote, apply and track up to 40 product variations from Legal & General’s life protection range in one application, it is now possible to quote and apply for buildings, home contents and mortgage payment protection insurance.

The systems means that after arranging protection cover it is possible to arrange additional general insurance cover, without the need to re-key any of the customer data. It is also possible to write just general insurance cover on a standalone basis if required.

In addition, new enhanced acceptance criteria means fewer cases need to be referred to us so the approval process is also quicker plus it is possible to adjust and change the application to reflect the cover required yet tailored to customers’ budgets. This means the service is easy and fast for advisers to use.

Phil Kennedy, business development director for Legal & General’s general insurance said: “Giving advisers access to general insurance cover on OLP Connect represents a major new business opportunity for advisers. It providers a cutting edge service that makes it easier for them to widen the type of business they write and frees up their time to take up new business opportunities.

The OLP Connect technology makes the process of selling household and mortgage payment protection insurance very easy for advisers. At a time when customers are trying to cut back on insurance cover to save money*, access to general insurance products on the OLP Connect service is very timely support for advisers in helping to demonstrate the value of this cover to their customers.”

Phil Kennedy continued: “Complementary products, such as household insurance, are often overlooked. Yet, with many advisers seeing their business income stream reduce as the credit crunch continues to bite, offering advice on household insurance could be a welcome boost. With household insurance now an integral part of the product mix available on OLP Connect, writing household cover or mortgage payment protection insurance is now just as easy as writing protection cover. Sales of household insurance offer advisers the potential of commission at renewal for an average of four to five years, so providing a steady income stream for the future.

Everything about the OLP Connect service is designed to make doing business with us simpler, faster and more efficient. Now combined with quality general insurance cover, this is very strong business proposition for advisers and one that should not be missed.”

Advisers wanting more details of Legal & General’s general insurance products and/or details of OLP Connect should either contact their normal Legal & General account manager, call 0870 900 8829 or visit www.gicentre.co.uk.