ABI criticised for ignoring signature debate

clock

A leaked consultation paper from the Association of British Insurers on telephone and online applications for protection insurance has been criticised for ignoring the issue of customer signatures.

The paper, which follows draft guidance published in October, says the issue of customer signatures falls outside the scope of the consultation because it is “a business risk”. But Andy Milburn, IFA market manager at Progress from Royal Liver, says the most important aspect of tele-underwriting best practice is customer signatures and describing the issue as a business risk is not acceptable. He believes the ABI should make it best practice for providers to put customers on risk immediately and then give them three months to return their application with a signature confirming the infor...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Protection

Listen and learn: Protection must change how it communicates

Listen and learn: Protection must change how it communicates

'Maybe it's time we start to make fewer assumptions'

Kevin Carr and Alan Lakey
clock 30 April 2024 • 4 min read
Cognitive biases in advice and the psychology of insurance

Cognitive biases in advice and the psychology of insurance

A look into client decision making and its effects on protection uptake

Jaskeet Briah
clock 25 April 2024 • 5 min read
Aviva completes £460m acquisition of AIG Life after CMA delay

Aviva completes £460m acquisition of AIG Life after CMA delay

'It's disappointing to lose another protection insurer from the market'

Cameron Roberts
clock 10 April 2024 • 2 min read