Canada Life Group Insurance celebrates ten years of CLASS
• First e-Quote produced on 1st December 2005
• First end-to-end online Group Insurance administration platform
• 9% of all Group Insurance policies are on risk through CLASS
Key improvements which have been made in the 10 years since 2005 include:
• e-Renewals – CLASS became the first end-to-end administration platform
• e-Reporting – offering unique support for advisers to manage their portfolio
• User interface – improved both user-friendliness and browser support
• Simply Class Group Life Assurance – streamlined product for sub-50 life policies was introduced in June this year
Since 2005, CLASS has developed into an integral pillar of Canada Life’s strategy to grow the market by giving advisers the tools to transact business for small companies quickly and easily. The result is almost a tenth of Group Insurance policies in the UK are now on risk through the CLASS platform. This number continues to grow each year thanks to an on-going programme of enhancement and innovation backed by significant adviser support.
Dan Crook, Sales Director at Canada Life Group Insurance has been involved with CLASS since its creation. He says:
“In 2005, the CLASS implementation team felt strongly that the system would improve the way small group risk business was transacted. Regular feedback from advisors has left us in no doubt that the Group Market (small segment) was labour intensive and didn’t generate enough profit. We felt that if we could find a way to streamline processes and create a ‘light touch’ solution for advisors, we would dominate in this space.
“2005 was time to use technology to drive this segmented strategy. The CLASS system was truly innovative at its inception and I’m delighted to say that we have continued with that innovation right through to the 2015 launch of our Simply CLASS Group Life Assurance product. Simply CLASS has been created to help advisors maximize the considerable opportunity that Automatic Enrolment has presented. We have further development planned for 2016 and beyond. Having grown up with CLASS I’m very proud of it! We look forward to celebrating its future milestones – still as the market leading Group Risk Platform.”
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