Midwinter, Omnium tie-up delivers on choice

17-Mar-2017

By Sarah Kendell

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Financial advice software group Midwinter and risk technology provider Omnium have completed integration of their AdviceOS and OmniLife platforms, allowing users of both systems to seamlessly integrate client and insurance data.

The first phase of the integration enables insurance premium product information from OmniLife to be transmitted in real time into AdviceOS’s client portal, as well as its fact-find and statement of advice (SOA) generators, while client data from AdviceOS can also be pre-populated into OmniLife.

Commenting on the announcement, Midwinter managing director Julian Plummer said open architecture was a key focus for the group, both in terms of connectivity with other software platforms and in allowing advisers to choose from the widest range of products possible.

“We don’t want to pick winners – we want to let advisers pick the winners,” he said.

“Different insurance research providers provide different benefits to different advisers, depending on the advisers’ requirements. It’s time to let the advisers choose.”

Plummer added that the open architecture of the Midwinter software had allowed Omnium to rapidly generate a solution to connect OmniLife to AdviceOS.

“The fact that Midwinter was able to give our [technical] API document to Omnium and within four weeks have them come back and demonstrate a working prototype to us speaks volumes – Omnium was able to complete this entire integration project unassisted by Midwinter development teams,” he said.

Omnium product and account manager Trishanth Chandrahasan told financialobserver the announcement was the beginning of a collaborative partnership, and the firms would ensure information-sharing between AdviceOS and OmniLife became even smoother.

“We will be integrating closer with [Midwinter] throughout the year – this will mean sending more data back from OmniLife into Midwinter to allow a more fluid SOA generation experience,” he said.

Chandrahasan said OmniLife, which allowed advisers to compare products between all major life insurers in the retail market as well as over 30 group policies in industry superannuation funds, would be rolling out to several large advice groups over the coming months, bringing its user base to around 1000 advisers.

Midwinter confirmed it would make further announcements on new integration partners.

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