Aegon Scottish Equitable is set to roll out tele-interviewing across its entire individual protection range.
The service, which will be supplied by MorganAsh at point of application, follows a successful pilot in September 2007, and includes critical illness, income protection, business protection and life cover.
Aegon says for this phase of the tele-interviewing service applicants will only be interviewed if a disclosure is captured at the application stage.
It says the pilot demonstrated that MorganAsh tele-interviewing significantly speeds up the underwriting process and saves costs on medical evidence.
It says previously it had to wait “a considerable period” for medical information to be returned following information disclosed on the application form.
It adds this, at times, caused significant delays in getting people on-risk quickly but now, where clients are tele-interviewed, 70% can be underwritten immediately without the need for further medical information and with a turn round time in the region of six days.
Matt Rann, head of underwriting and claims at Aegon, says: “We undertook a tele-interview pilot last year with MorganAsh [and] the results were so compelling that we decided to implement this for all our individual protection products.
“We are committed to continuously improving the service we provide to our distributors MorganAsh tele-interviewing will significantly enhance our proposition and replace the need for further medical evidence in a large proportion of cases.”
Andrew Gething, managing director for MorganAsh, says: “We are collecting better information than GPR’s, as well as slashing the turn round times, so removing the barriers to selling protection while reducing non-disclosure.
“With the present mortgage slow down, this double whammy is just in time and there is a window of opportunity to increase the sales of protection.”
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