How does RL360° Quantum’s new online application system work?

How does RL360° Quantum’s new online application system work?

Developments in technology mean that the ways in which people access financial services are changing. Companies are providing increasingly sophisticated solutions for customers to use. One business that’s keen to remain at the cutting edge is savings and investments provider RL360°. The company, which was known as Royal London 360° until a management-led buyout in 2013, has rolled out a new online application system for its flagship product Quantum.

The purpose of the new system

The online system has been launched to help make the process of applying for Quantum quicker, easier and more secure, RL360° notes. The Isle of Man-based company says that agencies registered with its Online Service can set their staff up on the system within a few minutes and they can access its web support team for assistance if they need it.

Because the procedure takes place over the internet, it eliminates the risk of hold-ups while applications are being transported to RL360° and it also removes any courier costs. It further speeds up the process by flagging up any missed sections of application forms or fields that have been filled in incorrectly.

As well as being faster, this approach is more secure because it ensures that paperwork does not go missing in the post.

What you can expect

Signatures are still required under the new system and there are two procedures that people can follow to provide these. One option is for clients and advisers to fill in a hard copy of their applications, clients to sign these documents and the information to then be uploaded to the system. The alternative is for clients and advisers to complete applications online, print them out, sign them and then scan their signatures into the system.

Once the forms have been filled in and signatures provided, clients don’t have to wait for long until their policies are issued. Often, this can be done the same day, or if not the next day.

Pilot testing

To ensure that clients have the best possible experiences with the new application process, it was put through a thorough RL360° review process. The system was piloted for a number of months ahead of its release to iron out any potential issues.

Meanwhile, the company is preparing to launch paperless application systems for more products over coming months and later this year it will release a tablet app version of the Quantum paperless system that will be able to accept digital signatures.

Royal London 360° was formed 8 years ago when Scottish Provident International Life Assurance Limited and Scottish Life International Insurance Company Limited came together.

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