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To find out more about FMI’s income protection products, please contact our Financial Advisor Distribution Team on 0860 10 52 08 or email us at sales@fmi.co.za. To remove your name from our mailing list, please email unsubscribe@fmi.co.za Questions or comments regarding this newsletter? Email us at marketing@fmi.co.za. |
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Volume 18, JUNE 2008 |
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FINANCIAL ADVISOR NEWS |
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“Consumerism has (also) driven the need for simplicity, not only in life insurance products but also in processes”. ¹
As part of improving our service delivery to you, our Financial Advisors and your clients, we have implemented tele-underwriting to maximise our underwriting efficiency and improve our service turnaround time.
What is tele-underwriting? FMI’s tele-underwriting is only used for the data required on medical questionnaires for further information which is not asked on the application form. This allows the underwriter to cut down the standard questions to an absolute minimum, and only these questions will be directed to the client. It must be understood that the tele-underwriting call is not used to investigate any declaration but only to complete the traditional process of asking standard questions related to a disorder already disclosed.
How long does tele-underwriting take? This process has been restricted to a maximum telephone call of 20 minutes, however experience has shown that with standard legislation of advising the client of their rights, most calls have averaged 7 minutes. In reality, the 2 days of sending out manual questionnaires has been cut down to a matter of minutes.
How does FMI respect the relationship between you and your client? FMI respects the relationship that you have with your client, therefore we will only phone a client on request or with prior permission granted by yourself.
This process has been implemented not only to improve the turnaround time on information collected but to simplify the underwriting process for yourself and your client. This improved process leads to minimised frustration and maximised efficiency.
For more information on FMI’s new tele-underwriting process, please email Dennis Booysen on dennisb@fmi.co.za.
¹Backeberg, C. (2008) Automated Underwriting. Cover magazine, June edition. Pg 6. FMI Ltd is an Authorised Financial Services Provider FSP 2717 |
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