Holloway Friendly, a UK-based provider of income protection insurance, has introduced an online underwriting service, which enables advisers to write short-term income protection business within minutes.
Using the new underwriting process, clients can apply for short-term income protection benefits of up to £34,000 per annum without prompting any automatic medical limits.
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Additionally, the underwriter also rolled out more tolerant body mass index (BMI) tables, which has been designed to provide speedy and fairer outcomes for applicants.
The company said that users who partake in certain hazardous pursuits which would earlier have resulted in exclusion can now be placed on risk with a premium loading.
Holloway Friendly chief operating officer Mike Taylor said: “This is our first step in the world of online underwriting.
“We have listened to advisers and their customers. These changes are just the start of the improvements that we wish to make to the overall experience that we offer.”
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By GlobalDataBon Accord Life managing director Martin Delany said: “With an ever-increasing number of our clients asking for income protection it is terrific to hear Holloway are looking to accept a broader range of potential customers.
“For many people a speedy, hassle free process is important so cutting down on needless GP reports is great news for both our business and our clients.”
