Canada Life International (“CLI”) becomes first provider to offer real time valuations for international bonds.
CLI and Intelliflo offering meets industry-wide ‘Origo standards’ of technical functionality
CLI has partnered with specialist online software provider Intelliflo to launch the first online fund valuation access for open architecture international bonds. The new online offering will provide advisers using Intelliflo’s Intelligent Office (iO) with the ability to review the value of the bonds 24 hours a day, helping them to easily track their clients’ portfolios’ most up to date valuations.
The new development aims to help meet an existing gap in service provision, as no other provider is currently able to support real time contract enquiry messages this way on these products, and Canada Life believes this will ease the valuation process for advisers substantially.
CLI and Intelliflo have developed the new capability in order to meet adviser demand for greater efficiency, consistency and superior service in their business processes. It is reported that up to 80% of adviser firms use some form of Customer Relationship Management (CRM) practice management system to help manage their customer relationships and operations, and CLI is interested in ways that it can support the delivery of good customer outcomes via these systems.
After going live successfully on 13 June 2017, CLI has already observed significant demand for the new valuation system. CLI has identified 685 firms using iO which have clients with an international bond, and could benefit from the new offering.
Commenting on the launch, Sean Christian, Executive Director for Canada Life's International Businesses, said:
“We are completely committed to helping advisers provide their customers with a fast, efficient and effective service, and this offering means they can value international bond portfolios with ease at any time. This contract enquiry development is the first of its kind for these products, and I’m proud that CLI is at the forefront of technological developments in the sector. It is hugely important that providers fully leverage technology that supports positive outcomes for advisers and their customers, as doing so will help forge strong relationships.
“There has been strong demand for the new service since its launch in June, and we have identified nearly 700 firms on the Intelliflo system who are well placed to benefit from its services. We are actively working to roll a similar offering across other practice management systems whose adviser-users would benefit from real-time valuations.”
Nick Eatock, Executive Chairman of Intelliflo comments:
“Providing Canada Life International with the ability for its clients to review the value of open architecture bonds 24 hours a day is just one of the ways we strive to add value to the iO offering. We spend a significant amount of time listening to our clients to find out what they need from us to help them reduce admin, increase efficiencies and create more time for them to focus on the profitable areas of their businesses.”