Rosemount Financial Solutions (IFA), the mortgage, protection, and financial planning network, has launched ProCeding, a new AI-powered tool designed to simplify dealing with ceding scheme providers.
ProCeding has been developed in-house, and utilises AI-powered scanning technology to extract key information from ceding documents, which can run for more than 40 pages. within just a few minutes. Advisers are able to verify exactly where the data source appears within the document, or cite information which is missing from the document, while automatically generating a follow-up email template, saving advisers time when chasing outstanding information from providers.
Alongside ProCeding, Rosemount has launched a Provider Index tool, allowing advisers to quickly search for plan types across different pension and investment providers. The tool includes clear Letter of Authority (LOA) guidelines, including whether they can be digitally scanned or signed, or whether a wet signature is required. The Provider Index includes provider contact details, alongside notes and updates on providers and policies.
Both tools have been developed in response to adviser feedback, and frustrations over how slow and inefficient it can be to deal with ceding providers. The tools are available now through the Rosemount Adviser Portal, with further developments aimed at supporting LOA submissions and automated chasing planned for the coming months.
The launch of the Provider Index and ProCeding follow Rosemount’s introduction of an AI-powered tool to support the financial promotions approval process.
Ahmed Bawa, CEO of Rosemount Financial Solutions (IFA), said:
“We know that the ceding process can be lengthy and frustrating, but by developing these tools we are able to take on some of the heavy lifting involved and allow advisers to quickly access the information they need, whether that’s direct contact details for a provider or to establish what’s missing from a ceding document. Too often advisers feel ignored by their network, but at Rosemount their voices are not just heard but acted upon.
“As a network, we have invested significantly in our technological infrastructure, which allows us to design systems and processes which address the specific needs of our advisers. Our expertise with AI means we’ve been able to incorporate it safely, securely and efficiently into our new tools, with further developments on the way.”
