Bright Grey calls for clarity in tele-underwriting

Wed, 18 Jun 2008

Bright Grey, the specialist protection arm of the Royal London Group, is asking for greater clearness regarding the definitions used for tele-underwriting .

With increasing numbers of companies introducing tele-underwriting, Bright Grey has suggested that benchmarking will be introduced to stop confusion and help advisers understand the level of service providers are offering.

Roger Edwards, product director at Bright Grey, said the market was confused about exactly what tele-underwriting means in relation to what providers are offering. He said: "At the moment companies use the term tele-underwriting to mean gathering any amount of information over the phone ."

Mr Edwards explained that some companies translate this as everything that would be contained in an application form, while for others it is just health questions they gather over the phone. There are also those who just follow up specific disclosures made on the customary application form, with a few questions over the phone. He added: "The problem is at the moment the whole spectrum is collectively referred to as tele-underwriting."
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