Protection Guru Pro has launched a new comparison service that allows advisers to review their clients’ existing critical illness policies against new protection plans using expert medical opinions.
The unique service benchmarks legacy plans from all major UK insurers over 20+ years and is undertaken by a panel of practicing medical professionals.
The panel is best placed to understand the detailed and complex medical language used, making this process an industry first.
The service enables advisers to easily identify the best quality product within the client’s budget, as well as the cheapest to produce better customer outcomes.
The service provides a comprehensive analysis of available policies in a simple format that considers price, cover, and policy wording.
The exhaustive benchmarking service has been developed in collaboration with medical experts to enable advisers to assess what represents best value for each client, bespoke to individual circumstances.
Focused on policy value over price, advisers can easily find the best value policies for clients and provide accurate analysis for consumers to make informed decisions when comparing critical illness policies, fulfilling their regulatory obligation under the FCA’s Consumer Duty requirements.
Protection Guru Pro launched in May last year to provide analysis for income protection, critical illness, mortgage protection, and other types of term contracts as a service designed to identify better customer outcomes and allowing advisers to easily identify the best quality protection product within each client’s budget.
Founder Ian McKenna said: “Allowing advisers to focus on comparisons based on quality and value first has been a game changer for advisers using the service we launched just a few months ago.
“Using independent medical practitioners to review existing policies is also an industry first. They consider every last full stop and comma of each wording so advisers can make recommendations in complete confidence.”
Early user Sarah Fox, associate director from The Merrigan-Reis Partnership, said: “In the past where a client had an existing critical illness plan, it was challenging to know if they should be replaced.
“Having access to a tool where doctors have reviewed all the historic and new policy wordings gives us huge confidence and certainty in knowing we are making the right recommendation.”
