Underwriting gets a good deal of bad press. But is it justified?
In the advised protection market the consequence of price competition on term assurance and critical illness products is tighter underwriting, more medical evidence and more ratings.
Online applications and tele-underwriting can help speed up the process but clients face disappointment when they find their premium is higher than originally quoted.
Is it time we changed the way we quote for protection products so we do not raise client expectations with cheap headline rates more people cannot obtain?
My guest today pioneered tele-underwriting in the UK and firmly believes that we need change. But what does “good” look like?
Before that, he was a Chartered Structural Engineer and entrepreneur starting several other companies one of which was an IT specialist.
In his spare time, Andrew is currently walking all the Wainwrights – that 214 hills in the Lake District of which he has only 22 more to do.
Hear Andrew’s views on the current relationship between quoted premium rates and the final rates we offer after underwriting. Listen to his proposed solutions on how we can change underwriting from the current sometimes painful process to a valuable individual assessment.
Don’t miss an episode of the MPAF Podcast – subscribe now.
Now it’s your turn:
If you enjoyed this episode – Andrew Gething on Changing Protection Underwriting– please leave a comment or a review on iTunes. And if you know anyone who would enjoy the show – please share it with them. You can use the buttons below to share on social media.
Andrew Gething on Changing Protection Underwriting – MPAF20
RogerUnderwriting gets a good deal of bad press. But is it justified?
In the advised protection market the consequence of price competition on term assurance and critical illness products is tighter underwriting, more medical evidence and more ratings.
Online applications and tele-underwriting can help speed up the process but clients face disappointment when they find their premium is higher than originally quoted.
Is it time we changed the way we quote for protection products so we do not raise client expectations with cheap headline rates more people cannot obtain?
My guest today pioneered tele-underwriting in the UK and firmly believes that we need change. But what does “good” look like?
My guest on Episode 20 of the Marketing Protection and Finance Podcast is Andrew Gething.
Click here to TWEET this episode.
Who is Andrew Gething?
Andrew is founder and MD of Morgan Ash.
Before that, he was a Chartered Structural Engineer and entrepreneur starting several other companies one of which was an IT specialist.
In his spare time, Andrew is currently walking all the Wainwrights – that 214 hills in the Lake District of which he has only 22 more to do.
Hear Andrew’s views on the current relationship between quoted premium rates and the final rates we offer after underwriting. Listen to his proposed solutions on how we can change underwriting from the current sometimes painful process to a valuable individual assessment.
Andrew’s links:
Don’t miss an episode of the MPAF Podcast – subscribe now.
Now it’s your turn:
If you enjoyed this episode – Andrew Gething on Changing Protection Underwriting– please leave a comment or a review on iTunes. And if you know anyone who would enjoy the show – please share it with them. You can use the buttons below to share on social media.
Please share!
Like this:
Related
You might also like
What does professional REALLY mean?...
What does “professional” mean? I mean, what does it really mean? When I was a little boy,...
Building Octo Members – a content...
This week let’s talk about Octo Members, an app based content community for financial services...
Touching the Money Nerve with Bob Wheeler...
This week let’s talk about touching the Money Nerve. How emotions underpin our relationship with...