MorganAsh

LifeSearch has commissioned the interviews at their cost, to provide a thorough, independent and recorded interview of the medical part of the application process, as well as speeding up the process. LifeSearch alreadys run a tele-data-capture service in-house. MorganAsh will run a second team, thus giving LifeSearch increased capacity and flexibility. This will enable LifeSearch to focus on its core activity of advising customers, with a rapid expansion of the interviewing service.

“Our aim is to improve the service to our customers,” said Kevin Carr, head of protection strategy for LifeSearch. “MorganAsh is leading the way on tele-interviewing and we are delighted to team up with them.

“One of the biggest areas of concern in the protection industry is when claims are declined due to non-disclosure. Recording the interviews and storing them along with other relevant client data protects the truth. It is stronger than a signature alone and if there is a dispute at claim stage, the interview recording can be replayed, removing ambiguity,” said Carr. “No consumer wants to fight with an insurer at the best of times, let alone when they are ill. In our view, consumers should ask if their interview is being recorded and stored for their protection, so they can decide where to buy from.”

“While this is a great step forward, our ultimate aim is for the product providers to procure the tele-interview service,” said Tom Baigrie, managing director of LifeSearch. “We, as brokers, should not be taking the liability, or bearing the costs, for the medical interviews, and when product providers take control of the interviews, they can tune these to their underwriting philosophy and extend the interviews to collect all medical information, thus reducing GPRs and improving disclosure further. This has to be the better way.”

Andrew Gething, managing director of MorganAsh, stated: “We are delighted to be working with LifeSearch; we share the same commitment to improve the processes for customers and reduce non-disclosure. While the service for LifeSearch is relatively simplistic tele-data capture, it is a step in the right direction, and it is great to see a broker being proactive in moving the industry forward.”

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Our clients say:

To meet vulnerability and Consumer Duty requirements, firms need to understand the characteristics of their customers – and be able to manage and report the conduct-risk. A move to more structured assessments, which can provide consistent and objective data, will provide management information that firms can utilise. The resilience rating within the MARS tool would appear to be a positive first step.

Robert Sinclair, Chief Executive, Association of Mortgage Intermediaries