Data provider, CDM Solutions, is set to release an updated version of its universal insurance policy client data feed service.
Designed to access and download client policy information from life company product management systems, the updated CDM Solutions platform will provide additional client policy breakdowns and will also address other systems and process improvements based on feedback from advisers during the pilot phase of this new service (see also: Launch of Universal Insurance Data Feed Platform).
Positioned by the provider as the only stand-alone client insurance reporting system on the market, the updated CDM 2 service includes heightened levels of data security built into the system, for which all development is now taking place on-shore.
Advice business users of the CDM 2 service will also be able to segment their client data feeds from the life companies into additional categories, such as the specific waiting and benefit periods for the adviser’s income protection insurance policy holder clients.
Founder of CDM Solutions and advice business owner, Katriel Warlow-Shill told Riskinfo there are now around 150 advisers across Australia who are utilising the new platform service, which delivers data at a rate of $0.30 plus GST per client per month.
The updated system is set to deliver daily data feeds for those utilising the service, which currently downloads client data from the following insurers:
- AIA Australia
- AMP Life
- Asteron Life
- MLC Life Insurance
CDM advises it will be seeking to eventually offer access to recent life company entrants’ data feeds as part of the roll out of its CDM 2 version.
According to Warlow-Shill, his platform offer is gaining traction among risk advice businesses as it contributes to driving efficiency gains which in turn serve to lower the cost of delivering advice.
Advisers and their support team colleagues can click here for further details.