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Survey shows nurse calls cut non-disclosure

A nurse tele-interview is up to 5.5 per cent more effective in reducing non-disclosure compared with a GP report, according to MorganAsh.

The firm studied 657 cases from five different protection providers. The results show its nurse tele-interviews uncover 5.5 per cent more information that could significantly change the underwriting decision for income protection than a GP report and an extra 3 per cent for life and critical-illness cover.

Providers traditionally considered GPRs to be the best source of information on an applicant’s medical history but managing director Andrew Gething says the increase in specialists such as physiotherapists has led to a fall in the report’s quality.

A GPR costs £80 and takes round 28 days to process while tele-interviews costs £40-50 and are generally turned round in 5.5 days.

Gething says: “Our customers have reduced the amount of GPRs by 60-70 per cent and halved their turn-round times. This dramatic improvement in our service and the present drop in mortgage business give us a window of opportunity to increase protection sales.”

Lincoln Financial Group chief underwriter Keith Robertson says: “A Morgan-Ash tele-interview has proven to be better than the GPR and we are now using it as our primary source of collecting applicants’ medical information and reducing dramatically the numbers of GPRs that we require.”


Third dimension

Aegon and Standard Life have both set out plans to introduce variable annuities this year.

Heads in the sand

Although there is no easy solution to the ongoing financial crisis, the Chancellor and his cohorts have so far been all spin and no action. During a recent BBC interview, Gordon Brown responded to questioning by glossing over the issues and replying that the slump in the UK housing market is “containable” and the country is better placed to cope than in previous slowdowns.

Swiss Re calls for group risk innovation

The biggest challenge facing the protection industry is making group life, income protection and critical illness more attractive to employers and employees according to Swiss Re.The reinsurer’s Group Watch 2008 report says increasing the appeal is essential in order to arrest or reverse the net decline in the number of group life and income protection […]


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