Newsletter SCOR Global Life
Tele-underwriting & Tele-claims
Tele-underwriting is becoming more common internationally and is used by about 80% of UK companies for CI benefits. Less medical evidence is required with tele- underwriting and it is quicker than waiting for a doctor’s report. In about 80% of cases a decision can be made based on the tele-underwriting. Overall, the customer has a better experience and there is a material reduction in anti-selection and non- disclosure.
SCOR Global Life has positioned itself as a market leader in the field of tele-underwriting. In 2009 the first global tele-interview survey was commissioned by SCOR Global Life and SelectX. The survey looked at tele-interview around the globe and the many benefits that this approach can bring as well as the lessons to be learned.
Additionally, SCOR Global Life launched SCOR Telemed, to assist clients in performing tele-underwriting in the optimal manner. SCOR Telemed combines excellent risk management with an efficient application process.
SCOR Global Life is also an advocate of tele-claims, a recent innovation which has been used in the UK mainly for CI and disability claims. The standard claims process where a claim form is sent to claimant often results in poor quality information due to poor question completion. In addition, a form is often seen as impersonal.
Tele-claims is a process of obtaining claims information via a telephone call to the claimant. It is a faster and generally more thorough and methodical process which produces much more accurate and complete information. It is an interactive and personal process where the claimant can also ask questions. Tele-claims significantly reduces the need for the collection of medical claim evidence and also improves the insurer’s ability to spot fraudulent claims. In addition, it improves the insurer’s brand image by means of the personal touch.