Tele-interviewing to be used for protection insurance

Mon, 17 Mar 2008

Lincoln Financial Group is to adopt tele-interviewing for its protection product. According to a pilot study by the group, it speeds up the applications process and causes non-disclosure rates to fall.

Lincoln confidently predicts it will improve its menu-based Financial Foundations offering. The new service will be run in partnership with tele-interviewing specialists MorganAsh.

Keith Robertson, Lincoln chief underwriter, says: "The industry has struggled with the issues around non-disclosure for some time now. Tele-interviewing provides a significant opportunity for clients to provide the relevant information we need in a convenient manner."

Andrew Gething, managing director at MorganAsh, adds: "Our strategy is not only to reduce non-disclosure but to make buying protection easier."

Research by Lincoln also suggests that requests for further information from the client’s doctor will be reduced by up to two thirds, compared with the previous system. It found that clients provided more personal health details during the tele-interview than they would face-to face with an adviser.

Financial Foundations offer whole-of-life cover in one place, including income protection and critical illness .
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