Paymentshield says its Adviser Hub platform has seen a 10% average increase in quote to sale conversion and delivered a significantly improved adviser experience, following the new, optimised quote journey launched in the Hub six months ago.
Adviser Hub, which brings together quote technology, customer management tools, rich data and a new referral option, underwent a series of upgrades earlier this year to improve its quotation capabilities and the user interface experience.
These changes made it quicker and easier for advisers to generate a home insurance quote, with the total question set reduced from 49 down to 18.
To speed up the quote process, Paymentshield has been sourcing key additional property data from global data provider LexisNexis Risk Solutions to automatically populate information such as property type and build year.
This is in addition to the removal of questions that have nominal impact on price and quotability, such as the number of windows or door locks on a customer’s property.
In Paymentshield’s recent Adviser Survey, conducted with over 500 advisers, 64% of respondents stated that the new journey is a significant improvement on the previous experience, and 42% said it’s made them more likely to offer their clients a home insurance quote.
Louise Pengelly, proposition director at Paymentshield, said: “Adviser Hub has offered advisers significant benefits since launch and we’ve continued to innovate since then to provide further improvements based on changing market needs and user feedback.
“Our recent tech enhancements, which also include the launch of our referral option, have had a focus on making it easier for advisers to offer general insurance to each and every one of their clients – even with the challenges of today’s market. They also help advisers to access insight on how their GI business is performing.
“We’ll continue to focus on striking the balance between speed and accuracy in our quote journey, giving advisers the support they need to effectively offer GI to their clients, and providing that all-encompassing level of service that Consumer Duty expects.
“I’m excited about our future roadmap of improvements planned for Adviser Hub over the coming months.”