OneCare Launches Real Time Pre-Assessment Tool

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ANZ Wealth has launched a life insurance pre-assessment tool for its OneCare range of products that will identify loading and exclusions for a range of pre-existing medical conditions.

ANZ Wealth Head of Life Insurance, Gerard Kerr
ANZ Wealth Head of Life Insurance, Gerard Kerr

The OneCare Pre-Assessment Wizard operates in real time with immediate indicative assessments calculated using smart underwriting rules and based on a database of preloaded medical conditions.

The tool can also provide results if information is unavailable by assuming a best-case scenario with ANZ Wealth claiming it can remove up to 48 hours of waiting time from the pre-assessment process.

ANZ Wealth Head of Life Insurance, Gerard Kerr said the real time functionality of the tool made it different than other pre-assessment tools which were often only online forms that still required manual process by an underwriting team.

…advisers only need to ask their clients a few medical questions to receive an immediate indicative assessment

“When using the OneCare Pre-Assessment Wizard, advisers only need to ask their clients a few medical questions to receive an immediate indicative assessment,” Kerr said, adding “Advisers who have trialled the tool said its ability to provide an immediate underwriting decision was having a real impact on client satisfaction and conversion rates.”

Kerr said the Wizard could automatically create a unique identifier for each pre-assessment that is made and advisers can record and share the identifier when placing business, so underwriters were aware of the pre-assessment.

The Wizard can be downloaded from OneView Life and is available to all advisers that write OneCare products and operates on PCs installed with Microsoft Outlook allowing pre-assessments to be sent automatically to OnePath underwriting, and matched with the application upon submission.