Exeter's underwriting technology improves offer times
Protection and healthcare insurer Exeter Family Friendly has praised UnderwriteMe for successfully integrating new technology into its income protection buying process in 2014.
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Since launching the new ‘Underwrite My Client Now’ route in September, 60% of applications using it have been offered an immediate underwriting decision.
Phil Jeynes, Head of Sales & Marketing at UnderwriteMe, said:
“Income protection is traditionally the most complex protection policy to underwrite, so for Exeter to be able to provide an instant decision to 6 in 10 applicants is fantastic and clearly demonstrates the power of the technology.”
Simon Philp Director of Distribution and Marketing at Exeter Family added:
“We were confident that integrating this cutting edge, rules based underwriting into our application process would have a positive effect for both advisers and customers and we’ve been delighted with the results so far.
“The straight through processing rate of 60% is fantastic and Underwrite My Client Now has proved nearly 3 times faster than the traditional routes as a result.
“The benefit for advisers is clear to see. No further questions to ask of their clients, no waiting, no more information to gather – just a buying process fit for 2015.”
