"It’s fantastic to have another major protection insurer join our comparison service"
Personal life insurance and critical illness products from Scottish Widows are now included, enabling an end to end application which saves substantial time rather than submitting multiple applications at once.
Advisers will complete a full set of medical questions on behalf of their clients that has been agreed between all providers, enabling them to return a fully underwritten premium or give an indicative cost in the event that the application requires further medical evidence.
Advisers can use the UnderwriteMe service to determine quickly whether cover is available if they’re concerned only about specific conditions, removing the need for multiple calls or completing full applications. The service also has the added advantage of being able to complete and edit applications without the need for advisers to leave the site as the impact of underwriting from all partner insurers is visible on one, simple comparison screen.
This is of particular importance at a time when the FCA is seeking to improve access to insurance - the partnership will also help IFAs to address the difficulties of those who are or have been suffering from an illness in finding insurance that meets their needs.
Scott Cadger, Head of Underwriting and Claims Strategy at Scottish Widows, said: “UnderwriteMe is all about a provider’s underwriting capability and that’s one of our key strengths. We’ve already simplified online underwriting and have 17 years’ experience of developing automated underwriting systems.
Our proposition is around providing certainty to customers where we can. Bringing together our expertise in this area with the Underwrite Me comparison service will allow more customers to get an immediate decision at point of sale, with the intent of growing the market.”
Phil Jeynes, Head of Sales & Marketing for UnderwriteMe, said: “It’s fantastic to have another major protection insurer join our comparison service. For too long, intermediaries have been expected to put up with a broken, disjointed process when selling life insurance, with genuine prices only exposed at the end of the journey. Scottish Widows is one of the UK’s most respected insurers and we are proud to be partnering with them, as we continue to improve and grow the market.”
