End of Life Choice Bill coverage focuses on insurers... it probably shouldn't
Fidelity Life appoints new CCO

Partners Life: Underwriting Management System

Partners Life's new underwriting platform was launched earlier this week. Originally announced as being called PLUME the name has been finalised as MUM (My Underwriting Manager). Today I attended a presentation on the new system and here are some of the key points:

  • It has reduced questions by about 50% from the original paper app form
  • MUM adjusts the questions based on the benefits quoted, so there are no income and work-related questions for someone applying only for Life Cover for example.
  • You can also apply for business covers through MUM, at this stage Business Life, Trauma and TPD can be automatically underwritten but some other business products such as Key Person cover and Loss of Revenue will still be referred to an Underwriter
  • After an online app has been done you can go back to the quote and change sum insured etc if the client changes their mind and MUM will automatically adjust itself accordingly
  • The confirmation of terms of a policy will be instantaneous in most cases
  • Payment methods can be added to avoid delay in issuing the policy and are verified in real-time
  • You have 90 days to complete an app, you can start and go back and continue it at anytime within the 90 days
  • MUM can be used to apply for alterations to existing policies but will it still need to be approved by an Underwriter
  • Customers can sign online to allow the insurer to gain access to medical records through Konnect
  • A customer signature is only required if requesting information from a Doctor, otherwise Partners Life just require the client to tick a box as a declaration


Feed You can follow this conversation by subscribing to the comment feed for this post.

The comments to this entry are closed.