Smartr365 has launched new platform features and enhancements designed to improve the experience of brokers sourcing protection packages for clients.
Smartr365 is a tech platform designed to support brokers, estate agents, and homebuyers with every aspect of the mortgage and protection journey, including lead generation, applications, protection, and compliance.
Smartr365 has introduced these developments to support the broader, sharpened focus on customer outcomes across financial services in the United Kingdom.
This was ushered in by new regulation from the Financial Conduct Authority (FCA) in July 2023, with new Consumer Duty regulation outlining clearer standards of customer protection against an uncertain economic backdrop.
Smartr365’s latest efforts to enhance its protection offering have been built with this in mind, helping brokers to easily understand, record, and support the needs of their clients.
As of today, advisers can utilise the Smartr365 platform to capture client demands and needs, add multiple benefits per case, choose a streamlined protection focused Fact Find view, and move seamlessly between documenting client needs and sourcing protection quotes.
The features have been designed to ensure that Smartr365 handles the documentation of the compliance and administrative tasks, to allow advisers more time for client communication.
Thora Kehoe, chief product officer a Smartr365, said: “The ongoing cost-of-living crisis has left many in a compromised financial situation, highlighting the importance of having comprehensive protection packages in place.
“The value of UK residential mortgages in arrears jumped to a seven-year high in Q2, according to Bank of England data, and elsewhere individuals continue to borrow growing amounts in consumer credit (up from £1.3bn to £1.6bn from July to August alone).
“Although protection is often one of the first expenses to be cut in challenging times such as this, it really can be a lifeline when in a difficult financial situation, particularly with an asset as significant and valuable as a property.”
Kehoe added: “We designed and built these latest features in order to help brokers to introduce higher standards of consumer protection.
“Consumer protection is of the upmost importance, and all the tools we build are designed with this in mind.
“We are passionate about digitising the mortgage market more widely, and today’s changes are also testament to this commitment – we are confident that they will help to develop a user-friendly experience in what can be a very complex area.”
Tony Currie, insurance & protection business development manager at My Simple Mortgage, said: “I use Smartr365 for protection because the new ‘needs & demands’ section makes it easier to document any protection shortfalls, the client’s priorities, and add notes which evidence how the recommended sums assured were calculated.”
Frederico Maciel, insurance broker, Independent Mortgage Advice Bureau (IMAB) Ltd, concluded: “I use Smartr because it is a user-friendly and tailored tool designed to help financial advisers manage and process cases in a more efficient way.
“Many thanks Smartr team for constantly improving the system and for providing us with regular support.”
