Underwriting process improvements at L&G

The underwriting and claims director for L&G said it is now easier and simpler for advisers to get quotes for their clients.

Mr Whitworth said: “These changes mean we will be providing advisers with market-leading, point-of-sale decisions. Some 80 per cent of clients will now get an immediate decision. This will enable more clients to be covered straight away and contribute to generating advisers’ commission sooner.”

He said the decision to update the process came as a result of adviser’s feedback, who wanted quicker decisions, shorter family history questions, fewer questions for clients and no more fasting for blood tests.

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The service has added a predictive search tool to help customers find their occupation more easily and a new question has been added about smoking that will help produce more accurate answers.

Big Figure:

20% of customers buying life cover won’t be asked a family history question.

Adviser view

Peter Chadborn, director and adviser for Essex-based Plan Money, said: “What would interest me about this would be if it enhances the customer experience and the ‘clean lives’ get quotes on cover more quickly. However, I think that too much speed, too much drive for over-efficiency can have a detrimental effect. I fear that this could filter out people who could get cover if more investigation is done.”