Unum rolls out underwriting service for IFAs
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Unum has rolled out its electronic underwriting system for advisers.
The new service, UnumOnline, will result in more than 80 per cent of underwriting decisions being made immediately, without the adviser or client having to obtain any additional information from the applicant’s doctor.
The system will ask a number of high level questions based on Unum’s bio-psychosocial underwriting model, and further questions are only prompted if certain answers are provided by the client in first instance.
Head of retail sales and marketing Linton Penman says: “Many advisers complain that the underwriting process for income protection is often time-consuming and they and their customers can be disappointed when, having gone through the process, their application is rated or even declined.
“Getting to the right premium first time in matter of minutes represents a tremendous leap forward in the world of income protection “, he added,
UnumOnline will be available through 1st - The Exchange and Webline, with other portals to follow shortly.
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