Zurich is the latest insurer to join the XPLAN real time insurance premium validation facility.
Real time premium validation is designed to make the risk insurance quotation and application process as streamlined as possible by pre-populating data from the XPLAN Risk Researcher premium illustration into the insurer’s own quotation system, which can then confirm the premium and generate a binding quotation.
From Zurich’s perspective, Strategic Marketing Manager Life Risk, Marc Fabris, said “The quote data from XPLAN automatically pre-populates our LifeXpress quotation system, so a click of a button is all that’s needed to send the quote through to the electronic application.”
…less time is required to fill out an application…
“Not having to re-enter this data means less time is required to fill out an application and minimizes the chance for error within the application process,” said Mr Fabris.
“We are concentrating on making the most of how we can pass pre-populated information from XPLAN into insurer systems so that the adviser is simply a click away from starting the application process or even the underwriting process”, said IRESS’s well-respected Head of Research, Louie Dimovski, who added:
“We continue to expand Risk Researcher’s capabilities reflecting its important role as a research system and business tool for risk advisers.”
Zurich joins CommInsure in XPLAN’s real time premium validation process, as the first two insurers to do so (see IRESS/CommInsure Launch Real Time Premium Validation).
