Partners Life has released its My Underwriting Manager (MUM) technology upgrade, effective from 12 November.
My Underwriting Manager (MUM) Auto-Issue
The MUM Auto-Issue enhancement seeks to allow advisers to issue cover immediately on eligible life insurance applications. Policies issued through Auto-Issue will have commission paid the following business day.
Auto-Issue is an optional service and will be presented as such in MUM on qualifying policy applications which meet the following criteria:
- New clients
- Personal covers
- All lives fully underwritten by MUM
- Payment details provided
- Preferred payment date selected
- No outstanding requirements
Additional enhancements to the My Underwriting Manager system include:
- 01/01 Birthdays: MUM will now prompt advisers to confirm any ‘01/01’ birthdays are correct
- NZ Post Address Finder Integration: Intended to more easily find and capture a client’s address.
- Child Declaration and Consent: All adults on a policy will now be presented as options to sign the Declaration and Consent on behalf of children on the policy
- Underwriting Terms Explanations: On cases where MUM offers terms for a client, an info icon will now appear next to the terms, to assist advisers in explaining terms to clients
Initial details of the enhancements to the insurer’s underwriting system platform were outlined during the insurer’s webinar in late October, and coincide with product upgrades previously reported (see: Partners Life Product, Technology Update).