In 2022, which life insurance policy application process do you prefer:
- Electronic/online applications (53%)
- Paper-based applications (25%)
- Depends on the client’s circumstances (22%)
- Not sure (0%)
Loading ...Our latest poll asks you to consider your preferences when it comes to paper-based versus electronic policy applications.
As we’ve reported this week, Partners Life has extended the functionality of its electronic application and underwriting system to offer clients the opportunity to complete their own personal statement online (see: Partners Life Online Application Initiative).
After two years in the market, the company reports that 70% of its new business applications are being received via its online platform, which is now being given priority over paper-based policy applications.
Has your advice business made the transition to electronic applications and underwriting? Or do you prefer to retain your paper-based policy submission processes? Does your business run a combination of both hard copy and electronic proposals, depending on the insurer’s capabilities or the client’s personal circumstances?
In any case, with the emergence of electronic policy applications and underwriting services, let us know which process you prefer, and we’ll report back next week…