Rosemount Financial Solutions (IFA) has announced the launch of ProCeding, its new AI-powered tool designed to simplify dealing with ceding scheme providers.

The tool, which has been developed in-house, utilises AI-powered scanning technology to extract key information from ceding documents, which can run for more than 40 pages, within a few minutes.

Advisers can then verify where the source data appears in the document, or cite information which is missing, while automatically generating a follow-up email template, saving time when chasing outstanding information from providers.

Alongside ProCeding, Rosemount has launched a provider index tool, which allows advisers to quickly search for plan types across different pension and investment providers.

The tool includes letter of authority (LOA) guidelines, such as whether they can be scanned digitally or signed, or if a wet signature is required.

Both tools have been developed following adviser feedback, which cited frustrations over how slow and inefficient it can be to deal with ceding providers.

CEO at Rosemount Financial Solutions (IFA), Ahmed Bawa, stated: "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."

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