"In a market where the quote-and-apply journey has remained largely unchanged for 20 years, this represents a major transformation."
- Rachel Edwards, SVP & UK managing director at iPipeline
Earlier this year, iPipeline launched its ‘Advanced Underwriting’ functionality, capturing upfront information to assess the top 20 most common medical disclosures, which typically account for up to 80% of all medical loadings and changes in terms, post-application.
Medical disclosures include diabetes, blood pressure, cholesterol, mental health, asthma, IBS, neurological, and musculoskeletal issues, as well as family history and travel.
READ MORE: iPipeline launch ‘Advanced Underwriting’ feature on SolutionBuilder to “fundamentally change how quotes translate into final terms” for protection products
Previously exclusive to The Openwork Partnership, iPipeline’s Advanced Underwriting has now launched to whole of market via its sourcing platform SolutionBuilder.
“The current quote-to-application journey isn’t predictable or as smooth as it could be, and it’s often opaque, interrupted, and delayed. Initial quotes that can’t always be trusted create frustration, uncertainty, and lost opportunities.
“After years of collaboration, we’re proud to launch Advanced Underwriting to whole of market. It’s a real step-change, giving advisers and customers a faster, smoother, and more transparent experience,” said Rachel Edwards, SVP & UK managing director at iPipeline.
When asked if there had been any objections to the assessment of medical disclosures, a spokesperson for iPipeline told Protection Reporter, “No, not at all. Advanced Underwriting brings the assessment of medical disclosures forward from the individual provider (application stage) to the provider (quote comparison stage) to ensure more precise premiums quoted for both customers and advisers.
“Advanced Underwriting empowers providers to proactively manage their underwriting rules and responses via the SSG Digital Underwriting workbench, which already powers a number of protection providers – including two of the top three.”
The Exeter, Vitality, and Zurich Insurance support Advanced Underwriting, and a further three providers will be added in the coming months.
