Quote+ is a free service for insurers which pre-screens applicants and allows them to retain complete in-house control over their underwriting criteria.
Ten of the UK’s largest protection insurers will participate in an initial trial before it is rolled-out to the adviser community later this year.
Rob Quayle, managing director, Directlife, said: “The ability to provide an immediate indicative price to customers is essential.
“However, until the launch of Quote+, the new universal application process, the industry has only been able to use limited screening questions which have often produced quotes that are subsequently changed as well as a customer journey that is not always conducive to the final purchase of the product.
“Our new system, which has widespread industry backing, will prove highly beneficial to advisers when we roll it out.”