CommInsure has changed its underwriting service in an attempt to “improve the experience” for financial advisers.
A new tele-interview service, as well as upgrades to its underwriting rules, is aimed at delivering a more seamless and efficient experience for advisers applying for a client’s life insurance cover, CommInsure said in a statement.
A dedicated Australia-based specialist tele-interviewing team will collect all the information needed in a single call aimed at reducing advisers’ compliance burden and risk exposure, and free up more time for them to spend with their clients.
Advisers will now have the option to request and collect information from customers directly to complete their personal statement for life cover.
In addition, CommInsure said it has upgraded its existing rules for underwriting, increasing auto-acceptances to include loadings and exclusions and refreshing underwriting guidelines to reduce unnecessary referrals within the application tool, WriteAway.
CommInsure head of life distribution Olivia Sarah-Le Lacheur said the enhancements are designed to improve adviser productivity by providing more choices.
“These enhancements are the first phase of a broader program designed to create a simple and seamless application experience for advisers and their clients,” Ms Sarah-Le Lacheur said.
“We’re transforming our digital business platforms to complement the significant product enhancements we released in November 2016.”
Netwealth Group has boosted underlying net profit rise by 23.9 per cent in financial year 2019, as its investor directed portfolio service h...
The wealth platform provider has posted a 108 per cent increase in total funds under administration to $16.1 billion over the year to 30 Jun...
Powerwrap has had their best quarter yet thanks in part to advisers looking for products and platforms that are unaligned with the big bank...