{"id":43065,"date":"2018-11-27T15:21:22","date_gmt":"2018-11-27T05:21:22","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=43065"},"modified":"2018-12-03T19:57:04","modified_gmt":"2018-12-03T09:57:04","slug":"neos-exceeds-target-for-underwriting-decisions","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2018\/11\/27\/neos-exceeds-target-for-underwriting-decisions\/","title":{"rendered":"NEOS Exceeds Target For Underwriting Decisions"},"content":{"rendered":"<p>New life insurance entrant, <a href=\"https:\/\/neoslife.com.au\" target=\"_blank\" rel=\"noopener\">NEOS Life<\/a> has announced that it made more than 86 percent of underwriting decisions within three working days, exceeding its own target of 80 percent set at launch in June of this year.<!--more--><\/p>\n<figure id=\"attachment_43074\" aria-describedby=\"caption-attachment-43074\" style=\"width: 150px\" class=\"wp-caption alignright\"><a href=\"https:\/\/riskinfo.com.au\/news\/files\/2018\/11\/Brett-Yardley_LR_cropped.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-43074\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2018\/11\/Brett-Yardley_LR_cropped.jpg\" alt=\"\" width=\"150\" height=\"181\" \/><\/a><figcaption id=\"caption-attachment-43074\" class=\"wp-caption-text\">NEOS Life Managing Director,\u00a0Brett Yardley<\/figcaption><\/figure>\n<p>At the time of launching,\u00a0NEOS Life Managing Director,\u00a0<strong>Brett Yardley\u00a0<\/strong>said the business had developed its own\u00a0bespoke application question set to be used with <a href=\"http:\/\/www.underwriteme.com.au\/#\/\">UnderwriteMe\u2019s<\/a>\u00a0underwriting rules engine (see:\u00a0<a href=\"https:\/\/riskinfo.com.au\/news\/2018\/09\/19\/neos-life-full-retail-market-launch\/\" target=\"_blank\" rel=\"noopener\">NEOS Life Full Retail Market Launch<\/a>).<\/p>\n<p>Speaking about the underwriting times, Yardley said that since launch NEOS had delivered 86.6 percent of underwriting decisions in three working days, 85 percent in two days and 64 per cent in one day by using the question set and rules engine together.<\/p>\n<p>\u201cWe understand how frustrating it can be for a seemingly straight forward application to be held up in underwriting for weeks on end. Clients want to be covered and advisers need to be paid. Our goal at NEOS is to make an adviser\u2019s job easier and a client\u2019s experience better, every step of the way. Providing rapid underwriting is a crucial part of that,&#8221; Yardley said.<\/p>\n<p>\u201cWe\u2019ve designed our underwriting questions to be targeted and relevant, so we can quickly get to the right underwriting outcome. And if a decision cannot be made on the spot, our highly experienced underwriting team are available to make common-sense decisions, fast,&#8221; he added.<\/p>\n<p>UnderwriteMe Director of Business Development Asia &amp; Australia, <strong>Rakesh Kaul<\/strong>, said, \u201cWe\u2019re excited to see the outcomes NEOS is achieving from their UnderwriteMe implementation so quickly. With a continued focus on rules improvement and insights from analytics, together, we hope to drive yet more efficiency gains in the future.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New life insurance entrant, NEOS Life has announced that it made more than 86 percent of underwriting decisions within three working days, exceeding its own target of 80 percent set at launch in June of this year.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,5,230],"tags":[],"class_list":["post-43065","post","type-post","status-publish","format-standard","category-products","category-services","category-underwriting"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/43065","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=43065"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/43065\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=43065"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=43065"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=43065"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}