Bright Grey achieves 98% on FTRC automation ratings
Tuesday, 9 September 2008
Bright Grey, a protection specialist within the Royal London Group, has achieved a rating of 98% from the Financial Technology Research Centre, for its new 'extended data pre-population' online software integration with True Potential. This allows advisers to obtain quotations and submit applications without re-keying client details. The software transfers client data already captured on client management systems to populate application forms automatically.
True Potential is the first software platform to connect to Bright Grey's 'extended data pre-population' solution and with the capability to fit different specifications of other back office systems. Bright Grey expects further integrations to follow.
Roger Edwards, Proposition Director at Bright Grey said:
"We're always looking to introduce solutions that simplify processes. This level of automation reduces the work an adviser has to do to send business online and is a significant improvement on the score achieved by any other provider.
"We recognise that advisers' time is at a premium and by extending the amount of client information that can be populated into our online process makes it easier to do business with Bright Grey."
Ian McKenna, Director at the Financial Technology Research Centre added:
"Bright Grey and True Potential are both highly innovative businesses who in implementing these enhancements are demonstrating the ability to act quickly and deliver change to benefit advisers. Pre-using information they have already captured in client management systems is an obvious way to reduce the time taken to submit applications.
"Bright Grey only published their extended pre-population interface a matter of weeks ago and it is noticeable that both parties have been able to move so quickly to deliver this. Advisers have every right to expect this level of integration between their software providers and insurers. The Portals have been slow to deliver these benefits and perhaps this sort of direct integration between life companies and client management systems shows a better way forward for the future, certainly if the portals do no up their game in this area they are risking becoming obsolete."
Richard Clarke, Senior Partner of True Potential, said:
"We have been delighted at how well Bright Grey and True Potential have worked together on this initiative. I am confident that this offering will help further boost the productivity and efficiency of all of our clients."
-Ends-
For further information please contact:
Bright Grey
Neil Cameron
neil.cameron@brightgrey.com
Tel: 0131 247 1677
Notes to Editors:
Royal London Group is a specialist financial service provider. Its businesses focus on those sectors of the market which value quality propositions, operating through a number of brands:
- Scottish Life - UK pensions market
- Bright Grey - UK protection market
- Scottish Provident - UK protection market
- Phoenix Life Assurance Limited - provides life and pensions products to Abbey's national branch network
- Scottish Life International - offshore investment markets
- Scottish Provident International - offshore investment markets
- RLAM - fund management
- RLAS - life and pensions administration
- Fundsdirect / Ascentric - funds supermarket; Wrap platform
Royal London is the largest mutual life and pensions company in the UK with Group funds under management of £32.4 billion. Group businesses serve around three million customers and employ 2,750 people. Figures quoted are as at 30 June 2008, prior to the acquisition of Scottish Provident's new business capabilities (in respect of individual life protection business) and of Phoenix Life Assurance Limited.