IRESS New Zealand manager Andrew Logan says the new module was developed using the company's global experience, and the new capability is already deployed in multiple countries including New Zealand by large institutions and boutique insurance broking firms.
The development demonstrates IRESS’ approach in leveraging its global experience to deliver benefits across a wide user base by recognising technology synergies to address common issues and local demands.
The integrated module is designed to walk an adviser through the key areas of business risk, providing an integrated needs analysis which flows through into XPLAN’s insurance quoting and product research tool, producing a Statement of Advice for business clients.
The process provides the client with a clear understanding of risk areas and solutions to mitigate any risk exposure, whilst providing advisers with the confidence that they have delivered the best possible service to their client.
“Our clients are looking for a single, integrated software platform that provides all the features required to operate a successful risk, wealth or mortgage broking business," Logan says. "Having multiple systems to produce advice, quotes or product recommendations is not only inefficient but can also expose advisers to compliance risks, as clients’ personal data is often stored on multiple platforms.”
“The requirements of regulated financial markets are increasingly global, and learnings across the world can be shared to the benefit of IRESS’ clients globally.”
Scott Black, chief executive of the adviser network SHARE says the this tool enables its advisers to engage in a clear and logical discussion with their business clients and provides these clients with a compliant Statement of Advice.
"The ability to pull client information from XPLAN, research the market and then quote in a single tool like this is invaluable, in both time saved and the quality of the recommendations provided.”
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