Norwich Union has launched a ‘simplified life cover' product which it claims will make it easier and faster for customers and advisers to take out life policies.
The cover uses an interactive system which can produce instant policy quotations and acceptance offers from the information provided, removing the need for manual underwriting for most people. Norwich Union claims the system will also tailor policy premiums to reflect an individual’s circumstances and offer instant acceptance decisions in the majority of cases. The product is currently available through Norwich Union’s website and call centre and will become available through intermediaries later this year. Louise Colley, head of protection products at Norwich Union, says: “Simplified...
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