Jersey-based Fintech solutions developer WARM has unveiled an underwriting platform that provides brokers and banks with new levels of rapid access to life insurance products.
The new product is an addition to WARM’s existing technology platform ‘Pandora’ and has the ability to make a policy live within 15 minutes; something that previously would have taken several days, helping insurance brokers to deliver turnaround times that can now match price comparison websites.
Pandora is already being used by several clients including HSBC, Aviva and Lloyds Banking Group and there is ongoing interest from other large institutions. WARM have also developed the product so that it can be rapidly configured to support a broad range of protection and investment products, with the ability to deliver the build in as little as 12 weeks.
Jensen Nixon, WARM CEO, said: “Protection platforms need to be smooth, fast and seamless offering an uninterrupted journey while either complementing or replacing legacy systems without disruption. We believe Pandora is the best example yet of a platform that can offer protection providers the ability to distribute their products at this scale, with digital integration and sector-leading speed to market.”
Nigel Elliott, Chairman, Opal Group, said: “WARM, the technology innovation engine of the OPAL Group, have earned their reputation as the best of breed solutions for the financial services market. Their specialist staff deliver rapid solutions allowing our clients, some of the largest banks and insurers in the world, to deliver new products to the market to beat the competition.”