Confused.com revolutionises buying life insurance with Quote+ technology
This is an industry first, with Quote+ technology providing a new and intelligent way of comparing life insurance. With over half (56%) of Brits not having any life insurance in place, this revolutionary service will help make purchasing a life insurance policy much simpler for consumers.
By implementing this new technology in the life insurance service, customers will just need to answer a few additional underwriting questions when applying for a quote. Quote+ technology will then use the customer’s unique responses and match them against the underwriting criteria of Confused.com’s panel of leading UK life insurance providers.
Customers will now be able to compare competitive life insurance products across insurers with a higher degree of confidence. This is because, having answered these additional underwriting questions, there will be a clearer indication as to whether they will be accepted for the quoted prices offered or whether they will be declined.
In fact, by using Quote+ technology, Confused.com can now provide its customers with an indication of:
Which insurers may offer immediate acceptance for their life insurance without the need for further underwriting/medical tests.
A more accurately-priced offering of what their monthly premium would be - by asking additional questions it is unlikely that additional charges will be added.
Which insurers may require more information/ a medical test.
Which insurers are more likely to decline them for a life insurance policy.
Quote+ simplifies the life insurance process by providing the customer with accurate information on whether they can get a life insurance policy or not. And with some people (6%) feeling the life insurance process is too complicated, this new technology will help benefit the life insurance market in a positive manner.
Matt Lloyd, head of life insurance at Confused.com says: “We are really excited to be the first comparison website to incorporate ‘Quote+’ into our quote process. This industry first technology allows customers to get an accurate indication of how their life insurance application will be treated by an insurer typically in less than two minutes.
“Having more information from the customer, means we can match customers to insurers more easily. And at Confused.com, we want to make buying life insurance as hassle-free as possible.
“The new Confused.com journey helps customers find the right life insurance policy for them in the shortest possible time, which is a huge improvement on the traditional online journey which hasn’t seen any significant change in many years. We’re very excited about this development and at Confused.com want to keep innovating within the life insurance market. The second half of 2014 will see us launching further market leading improvements to our life insurance service which we hope will prove equally as significant and game changing.”