Online adviser service UnderwriteMe has claimed it has reduced the sales time of its protection underwriting product by a third as a result of rewriting its questionnaire and by integrating new data analysis tools.
The previous question set, launched in 2015, more closely resembles questionnaires found on insurer extranet sites. UnderwriteMe collated the data gained from this process and, along with communications analyst Quietroom, streamlined its system to reduce the number of questions and mouse clicks by at least a third, the firm said.
"For as long as I've been in the industry, sellers of protection have wanted a single, jargon and duplication free set of underwriting questions," said Phil Jeynes, head of sales & marketing at UnderwriteMe. "It is with great pride that we can say that dream has been realised. Our service now represents the vast majority of major UK insurers, all showing their standard products, with no compromise on price, quality or underwriting nuance. We will continue to deliver what the market needs, and has known it has needed for many years, in order to genuinely increase sales."
Scott Cadger, head of protection underwriting and claims strategy at Scottish Widows, added: "UnderwriteMe has made a real breakthrough with its new questionnaire. Rather than long lists of diseases, the new approach uses catch-all questions that are very effective in picking up common conditions that can easily be missed.
"The way the questions are worded makes them very easy to understand and to answer and will make the whole process much simpler for customers and more effective for our underwriters."
In addition to these changes, UnderwriteMe has also integrated data analysis and comparison service, Defaqto, into its system.
This new comparison service, branded The Protection Platform, allows intermediaries to compare price against features and benefits within a single dashboard, increasing ease of use. The tools will be free to use for UK intermediaries, offering a broad range of critical illness, life and income protection from providers such as HSBC Life, Aegon, AIG and Royal London.
Martin Werth, chief executive officer at UnderwriteMe said: "It is immensely satisfying to be officially launching the Protection Platform after the months of work that has gone on behind the scenes to create a service that will make buying and selling protection insurance in the UK so much easier.
"With the widened range of insurers on board, integration of Defaqto and a more intuitive question set, the Protection Platform is the go-to place for any intermediary who wants to access the best protection cover for their clients," he added.
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