Product Research

Quoting software is a well-used tool and is designed to provide Money Fitness Centre with a risk insurance quote for our clients.

The main purpose of research software is for Money Fitness Centre to be able to critically assess the market in terms of product offering, overlaying criteria that the research house use to benchmark products against each other as well as looking at some of the premium comparisons that are available via these tools.

Xplan – Insurance Quotation Module Plus

Xplan’s Insurance Quotation Module Plus (IQM+) is a fully interactive risk insurance system built for Financial Advisers and utilised by Money Fitness Centre. This insurance quoting system provides qualitative and quantitative analysis of personal risk insurance products.

IQM+ allows Money Fitness Centre to research, compare and recommend risk products in a more timely and efficient manner. IQM+ provides Money Fitness Centre with access to detailed information on product features and premium feature comparisons.

Whether a client is looking for the most appropriate set of contractual features or the best possible price, IQM+ assists Money Fitness Centre in selecting the most appropriate products.

Premium Comparison

Premium Comparison has the convenience of getting an immediate estimate of how premiums will compare for all products in the market. IQM+ can:

  • Analyse a comprehensive set of premiums over time in both tabular or graphical format.
  • Compare cumulative premiums
  • Use Premium Benchmark to focus on product competitive age ranges
  • Compare Stepped vs. Level premium structures and ‘break-even point’
  • View true package premiums incorporating term, TPD, trauma, income protection and business expenses in one policy quotation.
  • Multiple instances of cover provides flexible ‘one-stop’ benefit amount comparison.

 

Profile Weighting

This function of IQM+ provides greater integration between your needs research information by allowing Money Fitness Centre to specify a level of importance to specific areas.

Minimum requirements can be set to filter out products from the market-wide comparisons within IQM+ creating a shortlist for your recommendations.

Rating and Product Comparison

IQM allows Money Fitness Centre to compare risk ratings, allowing the quick comparison of the ratings for any number of products on screen at one time. This facility provides a ‘at a glance’ comparison of the ratings for a number of products and research provisions.

Money Fitness Centre can select any combination of products to examine and then ‘drill down’s to display the actual rating description and policy extracts of the selected products and provisions