Standard Life (SL) has made changes to its online protection underwriting procedures in a bid to improve straight-through processing.
Specific changes to Protection Online which should reduce the need for manual underwriting include the expansion of occupations beyond a finite set of job titles to focus more on the activities undertaken as part of an applicant’s employment duties, as SL’s research into use of its site found a number of cases were referred unnecessarily to the company’s underwriters because people describe their jobs in different ways.
Amendments have also been made to medical questions about certain conditions, such as whether the colour or size of moles on the skin have changed, as this could indicate an increased risk of malignant melanoma.
Similarly, additional questions have been added on HIV risk, as the ABI has changed the questions to be asked.
Mick James, protection marketing manager at Standard Life, says the intention is to help consumers disclose medical details fully as claims are often rejected on the back of non-disclosure, but this could easily be rectified at an earlier stage by making the application process more intelligent.
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