News of changes to the Partners Life underwriting platform intended to give advisers more flexibility when quoting, attracted lots of reader interest this week…
Two key changes are being made to Partners Life’s My Underwriting Manager platform.
One update sees a change to the firm’s Quote for Alteration system that – says the firm – gives advisers more freedom. They will be able to quote more without having to contact the firm.
From Saturday 12 October, when an adviser adds a new cover for a client, they will be able to update the client’s occupation and employment status, states the firm.
“At a glance, you will be able to see which terms are applicable for new covers, based on your client’s occupation,” it says.
Included is an option to update the indexation option, cover term, and renewal term on existing covers.
In addition, when advisers add new covers, they will be able to quote the effect on in-force covers when they are moving a client from ‘smoker’ to ‘non-smoker’.
“You will have the ability to quote to exercise non-underwritten special event increases and future insurability increases,” states Partners Life.
Advisers will also be able to quote to exercise non-underwritten conversion benefits on existing covers.
Advisers can quote to alter accelerated and standalone cover, where no underwriting is required.
“If you have an existing QFA quote and would like to utilise the new conversion functionality, then please reset that QFA quote and create it again before proceeding,” states the firm.
A second update means clients will receive their policy documents by email, saving the firm sending hard copies. The change is being made for new applications.
Once an adviser has entered all the contact details for a client, they can expand the policy ownership section, and select who the owner of the proposed policy should be.
There will no longer be an option to receive paper correspondence via post, states the firm.
Both updates will be implemented Saturday 12 October.