National Friendly has significantly reduced the time for income protection applications, improving efficiency for advisers.
- The application process now takes just six minutes, down from the previous 14 minutes.
- This change is part of a renewed partnership with Munich Re Automation Solutions, focusing on technological enhancements.
- Advisers benefit from a more straightforward application process, promoting a more effective sales experience.
- The collaboration aims to support customers with fast, precise underwriting and diverse product offerings.
In a strategic move to enhance efficiency, National Friendly has revolutionised its income protection application procedure. By reducing the application time from 14 minutes to a mere six minutes, advisers are now able to serve their clients with remarkable speed and simplicity. This initiative seeks to alleviate the complexities that have traditionally deterred advisers from engaging with income protection products.
Further strengthening this transformative approach is National Friendly’s ongoing collaboration with Munich Re Automation Solutions. As part of their extended five-year affiliation, they utilise the ALLFINANZ Underwriting Engine to ensure accurate underwriting and swift adaptation to any required changes. This partnership reflects a commitment to cutting-edge technology and effective customer service.
Matt Suddards, an experienced protection adviser, remarked on the challenges of dealing with cumbersome application processes. He highlighted that simplifying these applications benefits not only the advisers but also reduces frustration for consumers. This adjustment aligns with the broader industry effort to make income protection more attractive and accessible to both specialists and non-specialists alike.
Graham Singleton, CEO of National Friendly, emphasised the strength derived from their enduring partnership with Munich Re, ensuring access to advanced underwriting technology and robust support from a major reinsurer. He stated that their enhanced, streamlined application process, combined with additional products like Accident Only Income Protection, positions them well to protect individuals across various risk and income levels.
Noel Gilmer of Munich Re Automation Solutions expressed enthusiasm for their continuing collaboration, pointing out the flexibility and rapid deployment capabilities of the ALLFINANZ platform. He acknowledged that such technological advancements are instrumental in delivering improved experiences for advisers and customers. This partnership is set to evolve, fostering ongoing improvements in underwriting and customer satisfaction.
National Friendly’s streamlined application process signifies a forward-thinking approach to enhancing adviser and customer experiences.
