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Industry’s first aggregated new business tracking service goes live

The business tracking service from the Exchange, owners of the Exweb adviser portal. is now live.

12 firms of advisers are currently using the new service in a live environment as part of a gradual roll-out. The full launch, which will make it available to all participating Exweb users, will begin in the next couple of months.

Two key provider companies are currently live on the new service – Legal & General, with its protection product range and Prudential with its protection, investments, pensions and annuities product range.

Other providers actively working with The Exchange are also due to join the service shortly.

The service allows users to track the status of new business applications which have been submitted to product providers, irrespective of the method of submission, e.g. via portals, via provider extranets, or via paper.

David Child, managing director of The Exchange, says: We are delighted to create yet another first for the industry with the launch of this pivotal new online service. In testing, we have had some terrific feedback from firms who are now using the new business tracking on a daily basis.

“We hope and expect a similarly enthusiastic response when the service is rolled-out to the full user base, particularly as it is being provided for no extra cost, within the existing license fee.

Key features of the Exweb new business tracking service include:

* Data aggregated from all participating providers.

* Data automatically loaded into Exweb overnight and made available to user accounts.

* All applications submitted to providers tracked, irrespective of submission method – i.e. via other portals, via provider extranets, via Exweb or via paper.

* New alerts functionality alerts the user to new tracking information received.

* Service built using the latest Origo messaging standards

* Service provided within existing user license and no additional charge is being made

User benefits include:

* The ability to go to a single source for tracking information saves time logging in and out of multiple provider web sites.

* Information from providers automatically updated overnight no need to request updates for individual clients or applications.

Avoids the time typically spent on the telephone with providers call centre operations.

* Ability to view tracking details for all new business applications submitted by the firm as a whole, with flexibility to manage applications at an adviser level where desired.

Martin Walker, new business operations manager at Wesleyan Financial Services, one of the early users, says: Like many adviser firms we have, in the past, spent a lot of time collating status reports on our new business proposals.

“As well as the time taken making phone calls we also lost time having to go through detailed security and password procedures, before getting any information back. The new Exweb service, even with only two providers live at the moment, has made a big difference already. Its very simple to use and is making a real difference to our productivity and ultimately client service levels.

The new business tracking service will also be extended to The Exchanges Officeweb client administration system over the summer months.


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