Omnium announces upgrades to risk solution

Risk software specialist Omnium has announced further upgrades to its risk research tool, OmniLife, after partnering with a dealer group for the use of the tool earlier in the year.

Omnium says it made major advancement to OmniLife, including adding projected premiums for different time periods – stepped, level and blended premium structures – with added functionality to compare between premium structures.

The upgrade will also add an intelligent premium loadings calculator for insurer specific or universal loadings, as well as allowing advisers to save their desired defaults on premium options, Omnium said in a statement.

“As life risk insurance products evolve and become more complex, we’re working extremely hard to have comprehensive functionality delivered to advisers in the most intuitive and user-friendly way possible,” Omnium director David King said.

In February, Omnium partnered with dealer group Dover Financial Advisers for the use of its OmniLife research tool.

The article has been amended to say in the lead paragraph that Omnium partnered with a dealer group for the use of its research tool earlier in the year.

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