STP is dead - Long live 'Self-Serve - an article in the June 2007 Protection Review
Electronic trading has ignited advisers and distributors alike into a new way of working and thinking. It is enabling new adviser firms to penetrate new markets. We only need to look at the internet and call-centre based IFAs to realise this. For example, at least one internet based IFA will be writing 50,000 applications this year. Electronic trading is not just creating efficiency and effectiveness, it’s creating greater opportunity and our distributors want more.
A number of existing Life companies do recognise this and so too do all new players entering this market.
Indeed so significant is the ‘groundswell’ that Reinsurers too are beginning to add electronic new business solutions to their list of value added services.
….And so the momentum is here, the expectation is here, the only concern now then for the Life Company and Reinsurer, is to ensure that the solution they offer is capable of meeting the ‘Self Serve’ demands of the industry not just in the foreseeable future but beyond.
