Teleunderwriting with Voice Signature
Experienced IBU underwriters complete the application over the telephone and obtain voice signatures. By using voice signatures, applications get signed quicker reducing the possibility of buyer’s remorse. IBU underwriters do not require drill down questions for medical questions answered “yes” and this really speeds up the time it takes to complete the interview.
Experienced underwriters are able to take a conversational and relaxed approach in speaking with proposed insureds. Experience and “gut instinct” allows IBU underwriters to obtain far greater detail compared to applications completed by non-underwriters or insurance agents. IBU underwriters can also make underwriting decisions and query MIB and Rx databases to further enhance the underwriting process. The result is fewer APS’s, improved turnaround time and greater agent satisfaction.
Midwestern life insurance company with agent distribution channel switched from agent completed applications to completing all new life applications using IBU teleunderwriting with voice signature. This has resulted in fewer APS, faster turnaround and greater agent satisfaction.