Keeping track of protection cases is not just a headache, it wastes on average two weeks annually of many advisers’ time.

Sadly the protection industry has no common approach to case tracking across insurers, meaning that while some proactively keep you abreast of what’s happening on a case and push out the data, many more expect you to find it yourselves.

Overall the lack of consistency and comprehensiveness of data, plus having to deal with multiple insurers is a significant source of frustration for many advisers dealing with protection cases.

It is unsurprising, therefore, that specialist outsourcers have had to develop the functionality to enable a whole of market case tracking solution. At the moment accessing this type of functionality is limited to advisers that outsource the management of their cases through LifeQuote.

Outsourcing administration can help advisers sell more policies.   By adding the new case tracking facility we feel that the argument for outsourcing administration is now even more compelling.   Our charge for outsourcing the collection of the application and chasing the case through to completion is either a share of the commission generated, or a fee of just under £100 per case. This means that, with the average commission per case being over £1,000, selling just one additional case could pay for outsourcing the admin not just for that case, but the next nine as well!

Our case tracking service has been launched following specific feedback from advisers and in collaboration with insurers.  The facility enables advisers to see all the information of all their clients’ pipeline cases, regardless of insurer, in one place and is available online, 24/7.

Specifically the system gives advisers a summary view of the status of all their pipeline cases whether ‘in-progress’, ‘awaiting start date’, ‘at risk’ or ‘completed’. In addition, it provides detailed information of their cases, including all correspondence with clients, insurers and third parties, as well as the applications, terms and quote research.

This means advisers can be fully up to date on all cases at any time, receiving notifications of next actions, as well as being able to see the full case history for completed cases.

The system also notifies of any direct debit cancellations and lapses so that advisers can follow up with clients and address any issues before a case lapses. Commission payments and the due date for payment are also held.

When time is your most valuable asset we believe that our new case tracking technology, combined with our administration support, makes for one of the most important technology advances in the protection industry for many years. 

Neil McCarthy

[Sponsored article by LifeQuote]