L&G Term online assurance added to 1st Software system

Legal & General&#39s Online Term Assurance has been added to 1st Software&#39s back office system, Adviser Office 2. The move will enable Legal & General&#39s 10,000-plus users to place clients on risk within minutes.

OLTA allows IFAs to submit applications directly into Legal & General&#39s back office processing system and in many cases generate an instant underwriting decision.

The company says the addition of OLTA to 1st Software&#39s Adviser Office system means IFAs can speed up the processing of cases further as client information already held on 1st Software will automatically be pre-populated into Legal & General&#39s application.

Some 1,050 IFA firms and 10,000 users have access to the1st Software system. This additional feature of the system is provided free to IFAs. Some 70% of applications for Legal & General&#39s term assurance from IFAs are now submitted using OLTA.

Graham Newitt, Legal & General&#39s managing director Intermediary Solutions, says: “OLTA is already very popular among IFAs for its seamless and speedy input of applications to the company&#39s back office system and automatic online underwriting.

“Adding it to 1st Software not only makes OLTA more efficient for a large number of IFAs, it also helps drive more costs out of the process for end users.”

Mick Harris, e-Business Relationship Manager at 1st Software says: “The company is committed to helping IFAs drive costs out of their business.

“By automatically linking to OLTA and its pre-population from the client database in Adviser Office it will help to save time and improve profit margins.”