Four out of five advisers claim online valuations are the most vital e-business development to help their business, research by 1st Software reveals.
Following a period of rapid development by providers, portals and online adviser services, the poll revealed a positive picture of growing e-business usage amongst the adviser population. A surprisingly high 40% of firms claimed they not only used online quotations and product literature, but also online valuations and e-submission services.
However, despite the obvious advantages of e-business usage, more than one in four firms claimed they still spent more than 10 hours a week chasing client valuations in the traditional manual way.
Paul Pettitt, managing director of Origo, says: “The results of this research are encouraging. The launch of new standards-based ecommerce services is the result of a number of years' work coming together.
“Origo, its sponsors and IFAs, have put a great deal of effort into developing the 'Contract Enquiry' standards and now we are seeing services emerge which make use of those standards. Continued IFA involvement is essential as it gives us first-hand feedback on what will improve processes, making life easier for them.”