"The buy-to-let market is an important part of so many of our intermediaries’ businesses and we therefore continuously strive to develop new ways to help them succeed in what is an increasingly complex market"
The new system is designed to help advisers offer clients a simplified way to ensure their property investments are protected and will launch with a panel of three insurance providers including Paymentshield, Let Alliance and First2Protect.
The panel is also set to expand, with First Complete and Pink currently in the process of adding two additional insurers to join the system.
The system compares both premiums and product features for customers to easily review, and is fully integrated so all completed applications immediately appear into the back-office system of the insurance provider, ensuring customers receive instant cover.
The system will also join the GI Genie quote platform launched by LSL in 2015 which provides the same for residential household insurance.
It also aims to keep advisers on top of the changing regulatory requirements from the FCA, such as the new add-on remedies and renewal transparency procedures.
Hannah Tasker, Development Manager GI and Group Products for First Complete and Pink, said: “We understand the importance of giving advisers access to a variety of providers on a panel. By using innovation and new technology, we have been able to provide our advisers with a one-stop shop that compares a choice of buy-to-let insurance products. As the system is maintained in-house we can react to any changing requirements quickly and improve the sales process accordingly which provides a better outcome for the customer.
The buy-to-let market is an important part of so many of our intermediaries’ businesses and we therefore continuously strive to develop new ways to help them succeed in what is an increasingly complex market. Our advanced system will help to simplify the buy-to-let insurance process, making it easier for advisers to help their clients have the insurance they need to protect the property they have invested in.”
