Income Protection  

Holloway launches online protection underwriting

Holloway launches online protection underwriting

Holloway Friendly has launched an online underwriting service that allows advisers to write short-term income protection business in a matter of minutes.

The underwriting process allows clients to apply for short-term income protection benefits of up to £34,000 a year without triggering any automatic medical limits, which can lead to delays caused by requests for GP reports and medical evidence.

Holloway has also introduced more tolerant body mass index tables, designed to create “quicker and fairer outcomes” for applicants.

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In addition, customers that take part in certain hazardous pursuits that would previously have resulted in an exclusion can now be placed on risk with a premium loading.

The latest innovations come after the society revealed its telephone-based claims service had slashed average turnaround times for income protection cases from 12 days to four-and-a-half hours.

Mike Taylor, chief operating officer at Holloway, said: “This is our first step in the world of online underwriting.

"We have listened to advisers and their customers. These changes are just the start of the improvements that we wish to make to the overall experience that we offer.”

Martin Delany, managing director of Stirling-based Bon Accord Life, said: “With an ever-increasing number of our clients asking for income protection it is terrific to hear Holloway are looking to accept a broader range of potential customers. 

“For many people a speedy, hassle free process is important so cutting down on needless GP reports is great news for both our business and our clients."

simon.allin@ft.com