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

Module	Feature	Update / Enhancement
Customisation	Report Theme	A new style Bullet Points has been added which allows you to change the type and colour of the bullets used in your reports.
Client Library	Corporate Client	A new optional field has been added Employee Salary Roll
Libraries	Provider Library	The following providers have been added: - Axa PPP Healthcare - Bupa - Unum
Equity Release Recommendation	Static Template Section	The content of this section has been reviewed and enhanced.

Section Wizards

Section(s)	Step(s)	Update / Enhancement
Introduction	Client Objectives	2 new standard advice options have been added to cover group protection and PMI recommendations.
Introduction	Client Circumstances Update	A 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 Summary	The following new product type has been added: - Peer to Peer Lending
New Pension Recommendation	Plan Summary	The following new product type has been added - QNUPS
New Protection Recommendation	Plan Summary	The 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 Recommendation	Plan Summary	A new optional field has been added PMI Cover
Important Information	Adviser Remuneration	A new optional field has been added so you can explicitly state the frequency of any recurring remuneration.
Important Information	Adviser Remuneration	Private 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 Name	Update / Enhancement
Suitability Report	Executive Summary	DB 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 Report	New Protection Recommendation	Group 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 Report	New Protection Recommendation	Plan Features Further Info Cancellation Notice Default	The wording of these snippets has been updated.
Suitability Report	New Protection Recommendation	Cancellation Notice PMI Cancellation Notice Group Protection	These are new snippets.
Suitability Report	Risk Warnings	Group critical illness Group income protection Group life insurance Group private medical insurance Private medical insurance	These are new snippets.
Suitability Report	Appendix – Product Notes	Group 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 Information	QNUPS 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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