TAL launches real-time alteration quotes

TAL’s latest expansion gives advisers the ability to provide instant premium calculations and present potential cost-saving options to their clients, increasing their value proposition.

Additionally, advisers are now able to make changes to clients’ cover such as decreasing the clients’ insurance sum, changing their payment frequency, changing the waiting and benefit periods, and cancelling their cover, among other things.

The update comes as a direct result of consultations with advisers. TAL’s general manager of technology delivery, David Arthur, said advisers have been requesting these additional capabilities.

“Earlier this year, we asked advisers how TAL could support them in servicing existing clients. Their feedback, along with the most common requests such as decreasing sum insured or permanently removing CPI indexation, was key to developing the new real-time alteration quotes functionality,” he said.

Arthur said the upgrade is the first in a series of planned expansions by TAL as the insurer continues to invest in the improvement of its technological capabilities for advisers and clients.

"Real-time alteration quotes is the first of a significant program of technology enhancements that support client retention and make doing business with TAL easier,” Arthur said.

"The goal is to simplify the quote alteration process, so advisers spend less time on administrative tasks and more on what matters most – helping their clients achieve financial security.”

With many advisers seeking greater efficiency and time-saving technology to help cut costs, Arthur noted TAL’s commitment to helping advisers achieve this while also increasing their value proposition for clients.

"We know time is valuable for advisers and their clients. That is why TAL continues to invest in technology to streamline insurance processes, enabling advisers to provide timely and tailored risk solutions, and ultimately enhance the overall experience for both advisers and their clients,” he said.

During the testing phase for the new technology, TAL said it received positive feedback from advisers.

One adviser noted, “The new tool has made providing my clients with insurance options smooth and seamless. From my experience so far, this technology will make interactions with TAL faster since there is less need for back and forth with the insurer.”

Arthur said that TAL plans to continue to enhance its platform’s capabilities for advisers, noting further improvements planned for later this year.

“We recognise the need to continuously improve the adviser digital experience and will consult with advisers as we make ongoing enhancements. Looking ahead, we will add further functionality in September, including premium projections, increases, and adding cover options – all features requested by advisers.”

The expanded capabilities are part of TAL’s ongoing commitment to the TAL Adviser Centre and a part of the firm’s investment strategy to create a faster, easier, and better experience for advisers and their clients through expanded capabilities.