CommInsure to reduce advisers’ compliance burden
CommInsure has launched an underwriting tele-interview service to reduce advisers’ compliance burden and risk exposure.
The Commonwealth Bank’s insurance arm will now allow advisers to request CommInsure to collect information from customers directly to complete their personal statement for life cover. A dedicated specialist tele-interviewing team will collect all the information needed in one call.
CommInsure said it had also upgraded its existing rules for underwriting by increasing auto-acceptances to include loadings and exclusions and refreshing underwriting guidelines to reduce unnecessary referrals within its online application tool, WriteAway.
CommInsure head of life distribution, Olivia Sarah-Le Lacheur, said the enhancements were the first phase of a broader program designed to create a simple and seamless application experience for advisers and their clients.
“We’re transforming our digital business platforms to complement the significant product enhancements we released in November 2016,” she said.
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