Underwriting for protection: Key reasons advisers face delays

Adoption of technolgy will streamline underwriting process

clock • 4 min read

Karen Brolly shares her insight on the world of underwriting and protection and explains why delays in the process are worth the wait...

Underwriting is an important part of protection business. It allows insurers to price risk appropriately, reducing cross-subsidies and the likelihood of claims being declined. But it can be a lengthy process with a number of questions required to appropriately identify the risk.   We have seen improvements in recent years through the introduction of digitisation in underwriting and, with the necessary changes implemented during the pandemic online underwriting became essential.  The slow and painful process of digitalising health records is allowing for speedier medical reporting, ...

To continue reading this article...

Join Professional Adviser

  • 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

Mental Health Awareness Week 2023: Looking after your staff

Mental Health Awareness Week 2023: Looking after your staff

Ideas for financial advisers to implement across their businesses

Jaskeet Briah
clock 19 May 2023 • 4 min read
Legal & General returns to commission on authorisation model

Legal & General returns to commission on authorisation model

'We continually and actively consulted with our partners and firms'

John Brazier
clock 18 May 2023 • 1 min read
Canada Life sells protection book to Countrywide Assurance

Canada Life sells protection book to Countrywide Assurance

Comes after the deal was first announced last November

John Brazier
clock 16 May 2023 • 1 min read