OnePath has announced a range of product and technology enhancements for its flagship OneCare risk products range as well as enhancements to the services which support it.
According to OnePath, the enhancements are designed to strengthen its overall life insurance offering and maintain the market-leading position of OneCare and its online OneCare Express application and underwriting service .
One of the key areas of focus in this upgrade has been on the uderwriting process, where OnePath has announced the appointed ten new underwriters, including five senior underwriters.
Also announced is the introduction of a national tele-underwriting service, to manage outstanding information efficiently. According to OnePath the introduction of the service will result in higher completion rates and swifter policy issue.
The upgrades to the OneCare product range include an enhanced Trauma Cover Reinstatement Option, which allows policy holders to “buy back” cover for seven defined conditions after six months.
OnePath has also made improvements to a number of definitions, including prostate cancer and melanoma.
OneCare Express has been updated with further questioning for musculoskeletal conditions, which the company says will provide more point-of-sale decisions.
‘Comfort’ wording in relation to how the insurer will consider future claims on policies that may have exclusions applied, and a business expense questionnaire have also been integrated into the OneCare Express processes.
Commenting on the upgrade, Gerard Kerr, Head of Product Marketing & Reinsurance at OnePath, said “Effective life insurance needs to keep pace with social trends and advances in medical technology.”
“These enhancements provide broader protection with no increases in premiums – clearly a beneficial outcome in a society that is grossly under insured,” added Mr Kerr.
These enhancements in this upgrade are also supported by the recent launch of OnePath’s new online application tracking system (see: New OnePath Application Tracker).
