"For as long as I’ve been in the industry, sellers of protection have wanted a single, jargon and duplication free set of underwriting question"
UnderwriteMe has analysed previous form responses, concentrating on the highest frequency medical disclosures, words used within questions, overall disclosure rates and disclosure rates for each question.
The revamped questionnaire has reduced mouse clicks and the number of questions by at least a third, and the average time taken to complete the questionnaire is similarly shortened.
UnderwriteMe has also integrated with Defaqto, enabling intermediaries to weigh up features and benefits as well as price when comparing products within a single dashboard.
To reflect these changes, the comparison service has been branded The Protection Platform. The full suite of tools offered by the Protection Platform is free to use for UK financial intermediaries and offers a selection of critical illness, life and income protection from Aegon, AIG, Canada Life, HSBC Life, LV=, Old Mutual Wealth, Royal London, Scottish Widows, and The Exeter.
Phil Jeynes, head of sales and marketing at UnderwriteMe, said: “For as long as I’ve been in the industry, sellers of protection have wanted a single, jargon and duplication free set of underwriting questions. It is with great pride that we can say that dream has been realised. Our service now represents the vast majority of major UK insurers, all showing their standard products, with no compromise on price, quality or underwriting nuance. We will continue to deliver what the market needs, and has known it has needed for many years, in order to genuinely increase sales.”
Scott Cadger, head of protection underwriting and claims strategy at Scottish Widows, commented: “UnderwriteMe has made a real breakthrough with its new questionnaire. Rather than long lists of diseases, the new approach uses catch-all questions that are very effective in picking up common conditions that can easily be missed. The way the questions are worded makes them very easy to understand and to answer and will make the whole process much simpler for customers and more effective for our underwriters.”
Martin Werth, chief executive officer at UnderwriteMe, added: “It is immensely satisfying to be officially launching the Protection Platform after the months of work that has gone on behind the scenes to create a service that will make buying and selling protection insurance in the UK so much easier. With the widened range of insurers on board, integration of Defaqto and a more intuitive question set, the Protection Platform is the go-to place for any intermediary who wants to access the best protection cover for their clients.”
