Online valuations seen as most vital e-business development

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&#39 work coming together.

“Origo, its sponsors and IFAs, have put a great deal of effort into developing the &#39Contract Enquiry&#39 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.”