Specifically for product providers
In current market conditions, life & pension providers are increasingly looking at ways to improve profitability by driving down the cost of new business processing and client servicing as well as increasing the speed to market of new products.
In addition, regulation is forcing providers to consider new distribution channels beyond that of the intermediated (IFA) channel such as going direct to orphan clients and implementing worksite marketing propositions.
Some providers are also building sales forces of their own, but all share a number of challenges.
- Consolidate disparate and costly bespoke e-commerce solutions
- Minimise administration support and improve operational efficiency
- Reduce the number of IT staff involved in supporting multiple internal systems
- Utilise new sales channels such as worksite marketing and going direct to orphan clients to secure distribution and protect market share
- Achieve straight through processing whilst providing an aggregated client view
- Remove error-prone, paper based processes
- Minimise the risk of deploying an advice driven sales force, with a process driven proposition able to support the whole advice and support process