TAL launches real-time alteration quotes as part of an ongoing commitment to making it easier for advisers to do business

In line with TAL’s ongoing commitment to enhancing the TAL Adviser Centre (TAC), the Australian life insurer has launched real-time alteration quotes for existing customers. This update is part of a significant investment program to create a faster, easier, and better digital experience for advisers and their clients.

Built directly in response to adviser feedback, the new quoting technology supports advisers to efficiently review and update clients’ insurance cover.

David Arthur, General Manager of Technology Delivery at TAL said, "Real-time alteration quotes is the first of a significant program of technology enhancements that support client retention and make doing business with TAL easier."

"We know time is valuable or advisers and their clients. That is why TAL continues to invest in technology to streamline insurance processes, enabling advisers to provide timely and tailored risk solutions, and ultimately enhance the overall experience for both advisers and their clients."

"The goal is to simplify the quote alteration process, so advisers spend less time on administrative tasks and more on what matters most - helping their clients achieve financial security."

“Earlier this year, we asked advisers how TAL could support them in servicing existing clients. Their feedback, along with the most common requests such as decreasing sum insured or permanently removing CPI indexation, was key to developing the new real-time alteration quotes functionality,” said Mr Arthur.

Real-time alteration quotes provide instant premium calculations so advisers can present potential cost-saving options to their clients. Other capabilities include:

• Decrease sum insured
• Reverse/decline indexation
• Change payment frequency
• Change waiting and benefit periods
• Change smoker status
• Change from Agreed to Indemnity
• Removal of benefit options
• Cancel cover

“We recognise the need to continuously improve the adviser digital experience and will consult with advisers as we make ongoing enhancements. Looking ahead, we will add further functionality in September, including premium projections, increases, and adding cover options—all features requested by advisers,” said Mr Arthur.

The new technology received positive feedback from advisers during the testing phase. One adviser noted, “The new tool has made providing my clients with insurance options smooth and seamless. From my experience so far, this technology will make interactions with TAL faster since there is less need for back and forth with the insurer.”

In conjunction with real-time alteration quotes, TAL has launched the Tech Hub where advisers can find details about other new and upcoming TAC enhancements, including resources to help get the most from digital interactions with TAL.

To learn more about this new feature, log in to the TAL Adviser Centre to access the TAL Adviser Tech Hub or speak with your BDM.