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16th Oct 2013
As part of its programme to enhance service to advisers, LV= has decided to deploy CTC's Elements Illustrations system for online quotes. This comes following recent trials with advisers who have responded very favourably to the initiative.
This latest step is a significant undertaking which will see an evolving programme of improvements to the LV= illustration capabilities. In addition to making the necessary changes to illustrations to comply with new regulations (e.g. ensuring that projections are provided on an inflation adjusted basis) LV= will be redesigning output to comply with the FCA's direction on "client friendly" illustrations.
The online quotes capability will be branded in line with LV= corporate standards and will be available alongside the full suite of services provided to advisers. Subsequently it will be possible for LV= to ‘switch on' further online tools from CTC's Elements suite incrementally adding further services to advisers.
LV= has been using CTC's calculations engine for a number of years and the relationship between the businesses has been successful. Ray Chinn, Head of Pensions at LV= commented that "We have great trust in CTC delivering this programme. Not only does working with CTC give us the confidence that our illustrations will meet the new regulatory requirements, but the facility to make the illustrations available to advisers online is a significant and welcome development. The fact that we are also able to simplify the output on illustrations in line with recent FCA guidance is a further benefit which will be great for advisers and their clients in improving customer understanding of their pensions provision."