How to Capture Protection Demands and Needs in Smartr365
Overview
The Demands and Needs section allows you to record your client's protection requirements. Three demand questions open up to five types of need: Life Insurance, Critical Illness Cover, Life & Critical Illness Cover Combined, Income Protection, and Accident, Sickness & Unemployment. Once captured, you can select specific needs and send them to Solution Builder for quoting.
Getting Started
Where to find it: Open a protection case, then navigate to Protection > Demands and Needs from the left-hand menu.
Who can access it: Users who can open the case and whose role has permission to view protection. On a protection case, the Demands and Needs section is shown for multi-benefit protection cases.
Step-by-Step Guide
Open your client's protection case and navigate to Protection > Demands and Needs.
For each applicable client, answer the three demand questions. These help your compliance team understand why certain types of protection were recommended.
Life Insurance - Does the client need protection against the financial consequences of death?
Critical Illness Cover - Does the client need protection against critical illness or permanent disability?
Income Protection - Does the client need to protect their ability to pay their mortgage/rent and other bills if unable to work due to illness or injury?
For each "Yes" response, a Needs section will expand below. If you answer "No", you do not need to complete any fields for that cover.
In the Needs section, click Add [cover] Needs (for example, Add Life Insurance Needs), select who the need is for (an individual applicant, or Joint Applicants, which is offered only on a joint case and not for Income Protection), and click Add cover. The need is created as a tab.
Fill in the need details, such as cover type, term, basis of cover, cover amount and other options.
If both Life Insurance and Critical Illness are selected for the same client, a Life & Critical Illness Cover Combined section will also appear.
If Income Protection is selected, an Accident, Sickness & Unemployment section will also appear.
Click Save to store the demands and needs.
Click Save & Quote to save and then select which needs to send to Solution Builder for quoting.
Managing Needs
Each need displays as a tab showing the applicant(s) it is for. Click a tab to view that need. You can create up to 5 needs for each type of cover.
To delete a need, click the 'x' beside the applicant names on its tab and confirm. The need is removed when you click Save.
Demands and Needs stores a live version of your client's demands and needs. If your client's needs change, update them here; any changes overwrite the selections you made previously.
To keep a record of your client's demands and needs at a point in time, download a copy of the Fact Find using the Download Fact Find icon. The downloaded Fact Find includes the client's demands and needs.
Using Save & Quote
Solution Builder uses your own Solution Builder WebID and password, saved in Settings > My Credentials under Solution Builder.
After clicking Save & Quote, a dialog will appear showing all your captured needs.
Select the needs you wish to quote (up to 10 needs at a time).
Click Continue. The selected needs are checked to make sure they are ready for Solution Builder; if anything is missing, an error message lists the fields to fix.
Choose whether to quote for an Existing case (select it from the list) or a New case.
Click Quote to open Solution Builder with the selected needs pre-populated.
You can also source protection without Save & Quote by opening the Solution Builder tab of the protection case and clicking Launch Solution Builder.
Tips & Best Practices
Whole of Life needs cannot be quoted alongside other need types. Select them separately.
Income Protection needs with Premium Type "All" cannot be quoted alongside other needs.
Accident, Sickness & Unemployment needs cannot be sent to Solution Builder.
For joint applications, you can add different applicants to each need within the same case.
Frequently Asked Questions
Q: How do I know what the right type of cover is for my client?
A: Your client's answers to the three demand questions determine which types of cover you recommend. The better the questions you ask upfront, the better you will understand the client's needs.
Q: I do not see the new Demands and Needs section. Instead I see "Demands and Needs (Existing)".
A: On protection cases, the new Demands and Needs section is only available for multi-benefit protection cases. Protection cases that are not multi-benefit continue to show the demands and needs captured before this section was updated, under Demands and Needs (Existing).
Q: The Save & Quote button is greyed out.
A: You need to add at least one need, and every need must have its required details completed. Answer "Yes" to at least one demand question, add a need and fill in its required fields.
Need More Help?
If you need further assistance, contact our support team through the chat widget or email support@smartr365.com.