Unum launches underwriting system for IFAs
Thu, 05 Nov 2009
Unum has unveiled its new electronic underwriting system for IFAs . Called UnumOnline, it aims to save time by limiting unnecessary questioning.

The system has been designed to simplify the application process for advisers and allow them to get their clients insured with immediate effect, where possible. According to the income protection provider, it will enable over 80 per cent of underwriting decisions to be made immediately, without the adviser or client having to obtain any additional information from the applicant's doctor, regardless of the amount of benefit being requested.

The provider claims it has limited the amount of unnecessary questions by asking high level questions based on what Unum describes as a "bio-psychosocial underwriting model". Further questions will only be prompted if certain 'flag answers' are provided by the client in first instance. As a result, it will take considerably less time to complete an online interview compared to the traditional paper application method.
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