Cost Effective Underwriting is based on the following guiding principles:

• It is extremely unlikely that an applicant who has not been to a doctor for anything material during the last twelve months, or to a hospital for anything material in the last five years will present as an increased risk.
• In this context it is important to understand that hospital follow-ups five years ago will reveal significant considerations that may go back further than this.
• Most people can remember such significant events, particularly when they happened in the recent past.
• Given the opportunity, with appropriately worded questions, an applicant should be able to give enough information about their medical history to focus the underwriter’s mind and make the decision to go for medical evidence somewhat less hit and miss than it may be currently.
• The majority of applicants do not non-disclose or materially misrepresent

Components

There are six key subjects to be considered.

1. Proposal form design.
2. The application of utmost good faith.
3. A radical new look on material non-disclosure and fraudulent misrepresentation.
4. Tele-interviewing.
5. Quality controls.
6. Management Information.

To allow us to help you revolutionise your underwriting processes, just contact us now.

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