Iress has added ex-smoker questions to its income protection comparison service on its sourcing platform, The Exchange.
The ex-smoker feature – supported at launch by Aviva, Zurich, Royal London, and National Friendly – was introduced to provide greater product clarity and price certainty for advisers during the quoting process for income protection.
The ability to distinguish between current smokers, non-smokers and ex-smokers in the income protection sourcing process means insurers can provide more tailored and precise premiums.
The ex-smoker feature is also available for Iress’ term and critical illness comparison service on the Exchange.
Jacqui Durbin, Iress’s global head product for sourcing, said: “Following the successful launch of the ex-smoker feature on our term and critical illness comparison service, we are delighted to extend this to income protection.
“Iress remains committed to price and product transparency, helping advisers set accurate expectations to customers upfront.”
She continued: “Alongside price transparency, the comparison results improvements support the move away from price alone, with greater clarity around product features further enabling personalised protection conversations with customers.”
Vicky Churcher, co-chair of the Income Protection Task Force (IPTF), said: “Getting the smoker rate right at the first opportunity is vital for both identifying appropriate insurers and managing client expectations.
“It is good to see this innovation enabling that to happen more simply today and in the inevitably complex future in this area.”
