RL360° is launching a desktop online application system to reduce costs and help speed up the processing time for financial advisers selling the company’s regular premium product Quantum.
Agencies registered with RL360°’s online services offering can set up their staff in “a matter of minutes” via the control panel, although the document will still require a ‘wet’ signature from the client.
The system now provides two options for completing an application. Advisers can complete a hard copy of an application with their client, who will sign it, and then this will be keyed into the online system and uploaded by the agency.
Or the adviser and client can fill the application in online, it can be printed out and signed, and the signature then scanned back into the system.
The changes have been made to reduce any hold ups while the applications are in transit to RL360° and cut courier costs. As a result, policies can be made live on the same day or the day after the application is submitted.
Once the policy is issued, the client will automatically have access to all policy documentation via the online service centre.
The desktop online application system has been piloted for several months, during which time it has been tested and refined, before official roll out to all advisers.
The company said that the system will now be extended to other products further down the line. And later this year a tablet app version will also be launched, which will provide a fully digital, entirely paperless system, complete with the functionality to accept digital signatures.