MetLife Australia has made changes to speed up how it processes insurance applications, with more decisions now made automatically.
The company said 25% of applications are now processed instantly without needing a human underwriter. This has been helped by a new system built with UnderwriteMe.
MetLife has also increased its use of phone-based medical reports over paper forms. These reports, states the firm, now take about eight days on average, compared to 18 days previously.
The company says this reduces delays and cuts down on paperwork for doctors, while helping advisers and clients get quicker answers.
MetLife’s Chief Operating Officer Olivia Sarah-Le Lacheur said the aim is to combine technology with human oversight to make the underwriting process simpler and faster.
She said ongoing investment in digital systems means advisers know the process will be “quicker and smoother, letting them spend more time focused on their clients’ needs”.
