UK insurance provider Standard Life has made available on its adviser website, adviserzone, the option for new businesses to apply for capital investment bonds and distribution bonds.
Although quotes for capital investment and distribution bonds have been available on the website for some time, the new online business application forms will incorporate a time-saving feature by enabling data to be extracted from these quotes and re-used to apply for new business on adviserzone, saving advisers from re-entering data.
Accompanying the new application will be a data capture form to obtain the bond owner’s details and signature upfront. An automated letter is also produced to be sent out with the check and bond owner’s signature, another time-saving aspect.
In addition, for a limited time only, the insurance group will be donating GBP1 to the Standard Life Charity Fund for every capital investment and distribution bonds quote calculated on its website. Once the application is submitted, an additional GBP10 will be donated.
The launch follows research conducted by the insurance firm indicating that more and more advisers are turning to technology to obtain investment bond quotes, with one in five advisers obtaining over 75% of their investment bond quotes using portals and provider extranets.