The protection of client data proved the most challenging aspect of setting up the new Macquarie Life online application service, according to the head of the business unit, Justin Delaney.
"That was probably the most difficult component of actually implementing this process - making sure that we were comfortable with the design in ensuring that client data was protected," Delaney said.
He said Macquarie managed the concern by ensuring WebConnect, which facilitates online insurance applications, was password-protected.
"Each client is sent a unique password to their phone, which actually enables them to log into the site, so it's extremely secure," he said.
The online service attempted to address the impediments advisers faced with getting underwritten applications submitted more effectively through online means, he said.
"Some advisers have business models where they service clients that are remote or travel for work. Whilst we've got the tele-interviewing service LifeConnect, which accommodates that gap, there's always an opportunity to improve," he said.
"It's clearly a very time-consuming process, [so] if they can do this electronically, it's a much more seamless process."
Macquarie Life had further technological developments in the pipeline, he said.
"In terms of the actual underwriting applications process, I think we've got all the bases covered now, but certainly we're going to continue to complement some of the iPad applications that we've got in the market already and continue to build out those processes," he said.
