National Friendly has significantly reduced the time required for income protection applications, enhancing efficiency for advisers.
- The simplification process has cut adviser application time from 14 minutes to six minutes, a noteworthy improvement.
- The partnership with Munich Re Automation Solutions underpins this innovation, extending their technology collaboration by five years.
- The revised application process aims to alleviate the complexity and time consumption typically associated with income protection.
- Industry professionals recognise this move as a positive development for consumers and advisers alike.
National Friendly has implemented a substantial reduction in the time advisers spend on income protection applications, slashing it from 14 minutes to a mere six minutes. This overhaul is designed to improve efficiency and reduce frustration for advisers and consumers alike, addressing a significant barrier faced by non-specialists in the protection field.
The success of this initiative is supported by the renewal of National Friendly’s long-term relationship with Munich Re Automation Solutions. They have extended their contract by five years, which will allow the continued use of the ALLFINANZ Underwriting Engine. This partnership enables National Friendly to maintain fast and accurate underwriting capabilities, providing a seamless experience for advisers and their clients.
Senior protection specialists have acknowledged the benefits of National Friendly’s streamlined process. Matt Suddards, a senior protection adviser, commented on the positive impact, noting that lengthy applications can be cumbersome and off-putting, while the updated process offers a more straightforward approach.
Graham Singleton, CEO of National Friendly, emphasised the strategic advantage of their collaboration with Munich Re. By combining streamlined applications with a diverse product range, including Accident Only Income Protection and Friendly Shield, they strengthen their proposition for advisers across varying levels of risk and income.
Munich Re’s Noel Gilmer highlighted the enhanced customer experience facilitated by the ALLFINANZ platform, which supports ongoing improvements and rapid deployment of underwriting updates. The flexibility offered by this platform ensures National Friendly’s ability to adapt quickly to industry changes and demands.
National Friendly’s innovative changes significantly enhance the efficiency of income protection applications, benefiting advisers and consumers.
