One thing I've noticed about our industry is that we do like to confuse ourselves. I'm sure it's the same whichever industry you work in, but the amount of jargon and abbreviations thrown around by the insurance industry is enough to create a new dictionary. Perhaps somebody should write one to help avoid the confusion sometimes caused by using terms interchangeably.
Take a minute to think about ‘Tele-interviewing’ and ‘Tele-underwriting’. What do they mean to you? Whilst they are always used in the context of an application for a protection product, they often seem to be used interchangeably when it comes to the actual processes. Tele-interviewing, is really just capturing information over the phone. This could be the full application questions or just more specific underwriting information e.g. as some companies do with nurses to replace the need for a GPR. Tele-undewriting, to me, means a person who calls the life to be covered and asks the questi...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
