National Friendly reduces application time significantly, enhancing adviser efficiency and consumer satisfaction.
- The reduction in application time from 14 minutes to six minutes offers a more streamlined process for advisers.
- National Friendly fortifies its alliance with Munich Re Automation Solutions to retain advanced underwriting capabilities.
- The entrustment with the ALLFINANZ Underwriting Engine facilitates rapid adaptation and data provision for National Friendly.
- Feedback from protection advisers highlights the advantages of simplified and faster application processes.
National Friendly has made substantial improvements to its income protection application process, effectively cutting down the time required for advisers to complete applications. Previously, advisers faced a 14-minute application process, which has now been significantly reduced to just six minutes. This enhancement is expected to streamline operations, making the process more efficient for advisers and less frustrating for consumers.
The company’s commitment to maintaining high-level underwriting technology is clearly demonstrated by its renewed partnership with Munich Re Automation Solutions, extending their collaboration for another five years. This partnership ensures that National Friendly continues to utilise the ALLFINANZ Underwriting Engine, which provides the flexibility and accuracy needed for effective underwriting, allowing for swift adjustments in underwriting questions and rules.
This strategic move is viewed as beneficial by many in the field. Matt Suddards, a senior specialist protection adviser at LifeSearch, observes that the simplification of the application process can attract non-protection specialists who might have been previously discouraged by the cumbersome procedures involved in selling income protection products. By reducing complexity, advisers can focus on delivering better service to their clients.
Furthermore, Graham Singleton, CEO of National Friendly, has stated that the long-term relationship with Munich Re Automation Solutions provides the company with both robust underwriting technology and the support of a major reinsurer. He believes that the combination of streamlined applications and a comprehensive product offering, including Accident Only Income Protection and Friendly Shield, positions National Friendly as a favourable choice for advisers serving clients across varied risk and income levels.
Noel Gilmer from Munich Re Automation Solutions also expresses enthusiasm about the ongoing partnership, highlighting the continuous improvements and rapid deployment of new underwriting features as key benefits. This sustained relationship aims to enhance the experience for both advisers and their clients, reflecting a shared commitment to innovation and excellence in service provision.
The streamlined application process introduced by National Friendly is set to improve efficiency and satisfaction among advisers and consumers alike.
