Genovo Suitability Report New Features & Updates July 2020

Genovo Suitability Report New Features & Updates July 2020

Team Genovo

Following hot on the heels of the release of our integration with Xplan. we’ve got another bumper-packed release for you this month – containing a bit of something for everyone. So what exactly can you expect to find the next time you log in to Genovo?

Coloured bullets

This is something that a number of our users have asked for so we’re delighted to announce that you can now customise the type and colour of the bullets used in your reports.

If you pop into Report Theme from the Customisation dashboard you’ll notice a new style ‘Bullet Points’ has been added to the Report Theme.

New group protection modules

This is another one we’ve been asked for from time-to-time, and it’s been on the ‘to do’ list for a little while now so we hope it’s been worth the wait.

Genovo has always catered for corporate clients and a range of business protection scenarios including, amongst others, Keyman Insurance and Relevant Life Protection. But there has – until now – been one noticeable exception – group protection. So we’re delighted to announce that the following product types have been added to the New Protection Recommendation section:

  • Group Critical Illness
  • Group Income Protection
  • Group Life Insurance
  • Group Private Medical Insurance
  • Private Medical Insurance

Here’s an article from our Knowledge Base that provides step-by-step instructions as to how to write a group protection report.

We’ve also created a Genovo Example: Group Life Protection Scheme report template to aid your understanding of the kind of information you need to include, and to see how a finished report may look once it’s been downloaded to Word. You can access this via your Report Template Library.

DB pension transfer summary

In response to the FCA’s policy statement PS20/6 regarding pension transfer advice, we’ve added a new one-page Pension Transfer Summary (based on the FCA’s suggested example wording) to the Genovo report template. This will be automatically inserted before the standard Executive Summary section whenever a recommendation is made in respect to a DB pension.

Summary of all updates and enhancements

Here’s a summary of all the new updates and features you’ll discover the next time you log in to Genovo.

App

ModuleFeatureUpdate / Enhancement
CustomisationReport ThemeA new style Bullet Points has been added which allows you to change the type and colour of the bullets used in your reports.
Client LibraryCorporate ClientA new optional field has been added Employee Salary Roll
LibrariesProvider LibraryThe following providers have been added:
- Axa PPP Healthcare
- Bupa
- Unum
Equity Release RecommendationStatic Template SectionThe content of this section has been reviewed and enhanced.

Section Wizards

Section(s)Step(s)Update / Enhancement
IntroductionClient Objectives2 new standard advice options have been added to cover group protection and PMI recommendations.
IntroductionClient Circumstances UpdateA bug has been fixed so any info included in the Further Client Information field will now copy down into the text box at the bottom of this step on the creation of a new report as intended.
Investment Review
New Investment Recommendation
Plan SummaryThe following new product type has been added:
- Peer to Peer Lending
New Pension RecommendationPlan SummaryThe following new product type has been added
- QNUPS
New Protection RecommendationPlan SummaryThe following new product types have been added:
- Group Critical Illness Insurance
- Group Income Protection
- Group Life Insurance
- Group Private Medical Insurance
- Private Medical Insurance
New Protection RecommendationPlan SummaryA new optional field has been added PMI Cover
Important InformationAdviser RemunerationA new optional field has been added so you can explicitly state the frequency of any recurring remuneration.
Important InformationAdviser RemunerationPrivate medical insurance advice has been added to the list of options under Type of Advice / Service.

Report Content Manager

Report Type(s)Section(s)Snippet NameUpdate / Enhancement
Suitability ReportExecutive SummaryDB Pension Transfer Summary Page - Transfer
DB Pension Transfer Summary Page – Retain
These are new snippets that will be auto triggered when a DB pension recommendation is made.
Suitability ReportNew Protection RecommendationGroup Life Benefits & Features Table
Group Critical Illness Benefits & Features Table
Group Income Protection Benefits & Features Table
Group Private Medical Insurance Benefits & Features Table
Private Medical Insurance Benefits & Features Table
These are new snippets containing the Benefits & Features tables for the new protection products that have been added.
Suitability ReportNew Protection RecommendationPlan Features Further Info
Cancellation Notice Default
The wording of these snippets has been updated.
Suitability ReportNew Protection RecommendationCancellation Notice PMI
Cancellation Notice Group Protection
These are new snippets.
Suitability ReportRisk WarningsGroup critical illness
Group income protection
Group life insurance
Group private medical insurance
Private medical insurance
These are new snippets.
Suitability ReportAppendix – Product NotesGroup critical illness
Group income protection
Group life insurance
Group private medical insurance
Private medical insurance
These are new snippets.
Suitability Report
Review Report 2.0
Top up / Bed & ISA
Review Report 1.0
Appendix - Product InformationQNUPS
Peer to Peer Lending
These are new snippets.

Please remember the changes we make to the report template will only take effect in your reports automatically if the Genovo version of the snippet is selected as active in your Report Content Manager (it is by default).  For more information about the Report Content Manager and updating of snippets check out this video tutorial.

Let us know what you think

If you’ve got any suggestions – no matter how big or small – as to how we can improve Genovo, or there’s a new feature you’d like to see added, we’d love to hear from you. Send us a message with your thoughts and we promise we’ll get back to you.

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