AIA Australia (AIA) is set to release its enhanced electronic application process, eApp Express, later this month.
In a bulletin to advisers, AIA summarises its enhanced ‘end to end’ new business system as including:
- A quotation package
- An electronic application
- Automated updates
- Reflexive questions
AIA’s existing eApp electronic application system was the first mainstream electronic application process introduced into the Australian market, launched in 2004, but does not provide the full underwriting and reflexive questions process.
The insurer reports it now receives more than 60% of all new business applications via eApp, but also advises that with the introduction of eApp Express, the 5% bonus commission payment for submissions made via eApp will finally be removed.
riskinfo will report shortly on further details regarding the launch of eApp Express.
