Life_Sales_header_700
Life_Sales_header_700

Take the guess work out of life sales

Removing the pain from Protection

We simplify the application process

Restoring trust to consumers

We have eradicated non-disclosure

Keeping costs down

Our prices flex in line with your revenues.



Life sales

Life, WOL, CI, IP processing

  1. Tired of battling against underwriting departments to get your applications through?
  2. Dismayed that those clients in poor health find it difficult to gain cover?
  3. Can't afford the time to complete the different application systems, or pay for a para-planner to do this?
  4. Want to insulate yourself from non-disclosure liability
  5. Want to Reduce the risk for the consumer of non-disclosure.

Our protection application service provides Advisers with an independent protection application service to ensure your clients receive the appropriate policy without the hassle and insulate yourself from non-disclosure liability.

We include an indicative underwriting process so keeping you in control of your protection applications.

  • Minimise the hassle for your client
  • Understand the viability and likely rating prior to insurance applications
  • Save time and costs - leaving you to focus on financial matters
  • Reduce delays waiting for GPRs and medical examinations
  • Eliminate your liability for the medical assessment
  • Our comprehensive medical report can be issued to several providers

As we are underwriters, and know what the providers need, we gather the relevant information thus eliminating the normal underwriting guessing game.

The Underwriting process:

  • Book the telephone interview for your client with our real time on-line calendar or simply phone in with the details
  • Our registered nurses conduct a medical interview at a suitable time for your client
  • Our experienced underwriters provide an indicative underwriting decision
  • We provide a comprehensive medical report that can be sent to any Provider and an indicative underwriting decision
  • If the client cannot provide sufficient information and a GPR is required (around 10% of the time) then this can be obtained (at additional cost) so full information can be sent to the Providers.

Some Providers may request compliance with their individual processes and may require the input of information into their systems to retain levels of commission payments.

The Result:

  1. You stay in control, understanding viability and likely terms
  2. Your client experiences a professional service
  3. Your client avoids the stigma of a “declined” insurance application
  4. You save time and money
  5. You remain insulated from the non-disclosure liability.

These services are offered on a 'Pay as you go' basis or on a commission share basis.

 

Tele-Interviewing/Tele-Underwriting

Tele-underwriting is the use of a telephone interview as the primary means of gathering risk-related information about an applicant for life and health assurance. It delivers benefits to all areas of the business process:

Consumers:-

  • Enjoy a simpler, fairer and faster process
  • Are relieved of the arduous task of completing long application forms

Advisers:-

  • Enjoy an effortless and faster process, allowing them to concentrate on advising clients

Insurers:-

  • Increase the number of policies and the speed at which they are placed "on the books"
  • Reduce the number of expensive GPRs by up to 70%
  • Reduce reinsurance costs up to 5%
  • Improve the quality of business
  • Increase premiums from more higher rated cases with disclosures and increased numbers of smokers

Regulatory bodies:

  • Favour the use of objective and validated information for risk management
  • Favour the transparency and audit trails

We operate our own interview engines or interview into existing interview/underwriting engines.

FOS and FCA view on Tele-underwriting

MorganAsh has never had a Tele-Interviewed case be presented to the FOS (Financial Ombudsman Service) the UK legislative body, that deals with insurance disputes.

In the book "Consumer Insurance Law: Disclosure, Representation and Basis of the Contract Clauses" Melissa Collett, an Ombudsman at the FOS states:

"The Ombudsman's long standing approach to complaints about non-disclosure is a three-stage one:

  1. Was there a clear question and was it answered incorrectly?
  2. Was the insurer induced?
  3. What kind of non-disclosure was it?

......."The ombudsman does not consider it reasonable to expect consumers to volunteer information, rather it is up to the insurer to ask"

......."If an insurer wishes to rely on non-disclosure as a valid defence to a claim, it must first demonstrate that it asked the consumer at least one clear question to which a wrong answer was given."

Views on face to face meetings

"Face to face meetings are rarely recorded and can often lead to dispute about what was said at the meeting....."

Views on Tele-underwriting

"Given the multifarious disputes that can arise as a result of face to face meetings, for the past several years protection insurers have increasingly used tele-underwriting. There are numerous advantages of completing the application (or at least the medical part) over the phone; primarily that the exact questions asked and answers given are recorded, leaving no room for doubt about what was said.  It also gives greater flexibility for capturing additional information disclosed during the conversation, since the whole conversation is recorded and not just the specific answers to questions.  It also removes the embarrassment factor that is present in face to face meetings, making it easier to discuss and disclose sensitive and personal medical details.  The telephone call is individual to each applicant, so again a husband need not disclose embarrassing or private medical matters in front of his wife and vice versa.  A number of tele-underwriters are trained nurses and therefore know what is medically significant and what is not. The emphasis in tele-underwriting is on probing the applicant to obtain sufficient information, rather than rapid-fire questions and answers in order to get a sale completed. Removing the medical questions and answers from the sale also has the advantage of freeing up the adviser to concentrate on the financial aspects of the sale, which is more within their field of expertise than medical underwriting." 

 

 

Life, WOL, CI, IP processing

  1. Tired of battling against underwriting departments to get your applications through?
  2. Dismayed that those clients in poor health find it difficult to gain cover?
  3. Can't afford the time to complete the different application systems, or pay for a para-planner to do this?
  4. Want to insulate yourself from non-disclosure liability
  5. Want to Reduce the risk for the consumer of non-disclosure.

Our protection application service provides Advisers with an independent protection application service to ensure your clients receive the appropriate policy without the hassle and insulate yourself from non-disclosure liability.

We include an indicative underwriting process so keeping you in control of your protection applications.

  • Minimise the hassle for your client
  • Understand the viability and likely rating prior to insurance applications
  • Save time and costs - leaving you to focus on financial matters
  • Reduce delays waiting for GPRs and medical examinations
  • Eliminate your liability for the medical assessment
  • Our comprehensive medical report can be issued to several providers

As we are underwriters, and know what the providers need, we gather the relevant information thus eliminating the normal underwriting guessing game.

The Underwriting process:

  • Book the telephone interview for your client with our real time on-line calendar or simply phone in with the details
  • Our registered nurses conduct a medical interview at a suitable time for your client
  • Our experienced underwriters provide an indicative underwriting decision
  • We provide a comprehensive medical report that can be sent to any Provider and an indicative underwriting decision
  • If the client cannot provide sufficient information and a GPR is required (around 10% of the time) then this can be obtained (at additional cost) so full information can be sent to the Providers.

Some Providers may request compliance with their individual processes and may require the input of information into their systems to retain levels of commission payments.

The Result:

  1. You stay in control, understanding viability and likely terms
  2. Your client experiences a professional service
  3. Your client avoids the stigma of a “declined” insurance application
  4. You save time and money
  5. You remain insulated from the non-disclosure liability.

These services are offered on a 'Pay as you go' basis or on a commission share basis.

 


Tele-underwriting is the use of a telephone interview as the primary means of gathering risk-related information about an applicant for life and health assurance. It delivers benefits to all areas of the business process:

Consumers:-

  • Enjoy a simpler, fairer and faster process
  • Are relieved of the arduous task of completing long application forms

Advisers:-

  • Enjoy an effortless and faster process, allowing them to concentrate on advising clients

Insurers:-

  • Increase the number of policies and the speed at which they are placed "on the books"
  • Reduce the number of expensive GPRs by up to 70%
  • Reduce reinsurance costs up to 5%
  • Improve the quality of business
  • Increase premiums from more higher rated cases with disclosures and increased numbers of smokers

Regulatory bodies:

  • Favour the use of objective and validated information for risk management
  • Favour the transparency and audit trails

We operate our own interview engines or interview into existing interview/underwriting engines.

MorganAsh has never had a Tele-Interviewed case be presented to the FOS (Financial Ombudsman Service) the UK legislative body, that deals with insurance disputes.

In the book "Consumer Insurance Law: Disclosure, Representation and Basis of the Contract Clauses" Melissa Collett, an Ombudsman at the FOS states:

"The Ombudsman's long standing approach to complaints about non-disclosure is a three-stage one:

  1. Was there a clear question and was it answered incorrectly?
  2. Was the insurer induced?
  3. What kind of non-disclosure was it?

......."The ombudsman does not consider it reasonable to expect consumers to volunteer information, rather it is up to the insurer to ask"

......."If an insurer wishes to rely on non-disclosure as a valid defence to a claim, it must first demonstrate that it asked the consumer at least one clear question to which a wrong answer was given."

Views on face to face meetings

"Face to face meetings are rarely recorded and can often lead to dispute about what was said at the meeting....."

Views on Tele-underwriting

"Given the multifarious disputes that can arise as a result of face to face meetings, for the past several years protection insurers have increasingly used tele-underwriting. There are numerous advantages of completing the application (or at least the medical part) over the phone; primarily that the exact questions asked and answers given are recorded, leaving no room for doubt about what was said.  It also gives greater flexibility for capturing additional information disclosed during the conversation, since the whole conversation is recorded and not just the specific answers to questions.  It also removes the embarrassment factor that is present in face to face meetings, making it easier to discuss and disclose sensitive and personal medical details.  The telephone call is individual to each applicant, so again a husband need not disclose embarrassing or private medical matters in front of his wife and vice versa.  A number of tele-underwriters are trained nurses and therefore know what is medically significant and what is not. The emphasis in tele-underwriting is on probing the applicant to obtain sufficient information, rather than rapid-fire questions and answers in order to get a sale completed. Removing the medical questions and answers from the sale also has the advantage of freeing up the adviser to concentrate on the financial aspects of the sale, which is more within their field of expertise than medical underwriting." 

 

 


Contact

0800 028 0236
info@morganash.com