Partners Life implementing signature-free processes for the majority of its policy admin requirements generated strong reader interest this week…

Partners Life has introduced ‘no signature required’ for the majority of its policy administration processes, meaning clients will no longer be required to submit signed requests to make changes to their policy.

In an adviser update the insurer says this makes it easier for advisers to do business with it on behalf of their clients and that it has several benefits for advisers and their clients.

“For a start,” says the insurer “…the streamlined new process means a faster turnaround. Everything becomes simpler and smoother reducing time and stress.”

The list of changes which will become ‘no signature required’ includes:

  • Alterations
  • Conversions
  • Change of Name
  • Date of Birth Correction
  • Change of Servicing Adviser
  • Information Requests
  • Non-smoking Declaration
  • CPI Decline
  • Cancellations
  • Revoking Alterations and Cancellations

The Details

Partners Life’s update also outlines how advisers and their clients will be able to make specific changes from 14 April.

  1. Alteration and cancellation changes: To make reduction alterations or cancel a policy, Partners Life needs an email with all policy owners’ verified emails copied in or verbal confirmation to Partners Life from all policy owners to proceed with the request
  2. Client name changes and date of birth corrections: The insurer needs an email or phone call from the adviser or policy owner/s requesting the change. They’ll also need to email Partners Life their ID to verify the correct details.
  3. Change of Servicing Adviser and information requests: The adviser or all policy owners need to email to authorise the change. Note: All policy owners’ verified emails must be copied on all emails to Partners Life.
  4. Non-smoking declaration: The company can provide the client a non-smoking declaration via email which they can complete and return, alternatively they can call to complete a verbal Non-Smoking Declaration
  5. CPI Decline (pre-anniversary): The adviser or policy owner needs to call or email
  6. CPI Decline (post-anniversary): Partners Life needs an email with all policy owners’ verified emails copied in or verbal confirmation from all policy owners to proceed with the request

Memorandum of Transfer – Signatures Still Required

The insurer says that while it still requires signatures for a Memorandum of Transfer, it can now accept electronic signatures on these forms. It says:

  • The Memorandum of Transfer must be accompanied by an audit trail showing the policy owner/s’ verified email on file
  • If the signature does not match, the email address on the audit trail does not match Partners Life’s records, or an audit trail is not provided, it will need the form to be re-signed

It won’t accept signatures that have been copied and pasted via a screenshot from another document.