Living in a 24/7 society means most of us have high expectations that when we want something, from the latest blockbuster on DVD to life insurance, we can get it quickly and with the minimum of fuss. This has been a factor contributing to the rapid growth of online submission systems in the protection market and to other business processes such as tele-underwriting.
Tele-underwriting has generated a lot of discussion, as something that is seen as speeding up the underwriting process whilst minimising problems with non-disclosure. However I’d suggest this isn’t the panacea many people are expecting it to be. There is no doubt that in the hands of a skilful practitioner tele-underwriting (or tele-interviewing) can help to speed things up. In some cases avoiding delays writing back to the customer for information related to a minor condition or, best case, avoiding the need for medical evidence from their doctor. Now comes the memory test (although ...
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