Fidelity Life is working with UnderwriteMe to embed the firm’s automation technology in an updated version of E-App, the insurer’s online application tool.
First launched to financial advisers in June, the new E-App is anticipated to improve application processing times as compared to a paper application experience.
Fidelity Life is to use UnderwriteMe’s decision platform to streamline the underwriting process with simplified questionnaires and customer journeys, and offer immediate acceptance for some customers.
In addition to Fidelity Life, UnderwriteMe has collaborated with several insurance providers in the Australasian market to launch scalable solutions that support insurers with quick underwriting decision-making.
Paul Hughes, Head of Asia Pacific at UnderwriteMe says that within the New Zealand market, the firm has observed a key pain point for financial advisers around efficiency in the new business and underwriting process.
“We are delighted to partner with Fidelity Life, using technology and data to innovate and to make insurance more accessible for customers.”
UnderwriteMe first entered the New Zealand market in 2018 when Cigna (now Chubb Life) adopted its Underwriting Rules Engine.
At the time, Cigna was one 15 insurers to have taken up the solution in the UK, Ireland and Australia. UnderwriteMe has offices in the UK, Singapore, and Sydney, Australia.