Advisers believe that integrating insurance product applications with their current systems will have the largest benefit to their business by creating efficiencies, research by Investment Trends has found.
According to Investment Trends' May 2015 Planner Technology Report – which was based on a survey of 892 advisers – a third or 36 per cent of advisers want to integrate insurance product applications with their current systems.
The report said advisers believe by doing this it will have the largest benefit to their business in terms of creating efficiency.
When asked what they want from the platform industry as a whole, 35 per cent said they want access to multiple insurers via their platforms.
This was followed by 25 per cent of advisers who wanted better integration of risk products on platforms.
Investment Trends also noted that 43 per cent of advisers are willing to use costly solutions, that being through the use platforms or software tools, to have their integration needs met.
“Platforms and software providers have the opportunity to work closer together to improve integration and hence business efficiency. XPLAN has the greatest reach in planner relationships,” the report said.