OnePath has released an upgrade to its electronic life insurance application, OneCare Express, saying the enhancements will increase the number of point-of-sale acceptances.
From 14 November, advisers can access new and extended underwriting rules which the insurer says are designed to reduce the number of applications that are referred to underwriting for completion.
For example, OnePath has revisited the BMI level at which an application is referred to an underwriter and raised this from 33 to 36. Clients with a BMI of up to 36 will now be accepted at standard rates.
Advisers can also take advantage of an increased loading limit for point-of-sale decisions. Applications attracting a 75% loading will now be assessed automatically by OneCare Express’ rules engine without being referred to underwriting. OnePath says this 75% loading decision will speed up the application process, and applies to TPD, Trauma, Income Secure, Business Expense, Living Expense, and Extra Care covers.
Other enhancements to OneCare Express include:
- An improved occupation list which provides requirement details for each occupation
- A reduction in the number of family history questions asked
- A new electronic version of the mining questionnaire (if required)
