Fidelity Life, a prominent life insurer based in New Zealand, has recently introduced an upgraded online application tool called E-App. Developed in partnership with insurtech provider UnderwriteMe, this new digital platform aims to streamline the underwriting process and improve the overall customer experience. Launched for financial advisers in June, E-App replaces traditional paper forms, thereby significantly reducing application processing times and adding a layer of efficiency that both customers and advisers can greatly benefit from.
Increasing Accessibility and Speed in Insurance
Simplified Underwriting Process with Immediate Feedback
E-App leverages UnderwriteMe’s sophisticated decision platform, presenting streamlined questionnaires and providing immediate feedback on underwriting assessments. For some applicants, this system allows for instant acceptance, making the traditional waiting period obsolete. The platform’s adaptive technology caters to the diverse needs of both customers and financial advisers, creating a more flexible and user-friendly experience. Chief Insurance Officer Niall McConville emphasized that Fidelity Life’s ultimate mission is to make financial advice and insurance protection more accessible to the people of New Zealand, and the E-App is already showing promising results in this regard.
McConville highlighted that the implementation of E-App is a crucial element in Fidelity Life’s broader strategy to simplify life insurance processes through technology. UnderwriteMe, with its extensive presence in Australasia, collaborates with various insurance providers to enhance underwriting efficiency using scalable solutions and robust data analytics. This partnership aims to tackle the existing inefficiencies faced by financial advisers in both Australia and New Zealand. Paul Hughes, Head of Asia Pacific at UnderwriteMe, expressed optimism about the collaboration’s potential to revolutionize accessibility and efficiency in the insurance sector through state-of-the-art technology and data-driven solutions.
Enhanced Efficiency for Financial Advisers
The introduction of E-App has already begun to deliver tangible benefits for Fidelity Life’s network of financial advisers. By digitizing the application process, the tool eliminates the inefficiencies associated with traditional paper forms and manual underwriting, allowing advisers to focus more on providing quality financial advice to their clients. The immediate feedback mechanism embedded within E-App ensures that advisers can quickly address any issues or discrepancies in their clients’ applications, thereby speeding up the entire process from submission to approval.
This initiative is part of Fidelity Life’s broader commitment to supporting their advisers by equipping them with the latest technological advancements in the industry. The collaboration with UnderwriteMe not only aims to improve underwriting efficiency but also seeks to empower advisers with tools that enhance their service delivery. In addition to simplifying the life insurance process, E-App reflects Fidelity Life’s commitment to continuous improvement and innovation, ensuring that they remain at the forefront of the industry in terms of technology and customer service.
Aligning with Broader Strategic Goals
New Board Appointments and Customer Support Initiatives
The launch of E-App comes on the heels of Fidelity Life’s recent board appointment of a new independent director, signaling the company’s ongoing evolution and commitment to governance excellence. This strategic move aligns with their broader efforts to support customers, as demonstrated by other initiatives such as premium relief for victims of the recent Hawke’s Bay floods and enhancements to their mortgage cover products. These initiatives underscore Fidelity Life’s dedication not only to technological advancement but also to corporate responsibility and customer support during challenging times.
UnderwriteMe has reiterated its commitment to advancing life insurance technology, aiming for quicker decision-making processes and superior customer service. This commitment is crucial as the industry moves toward greater digitalization and automation. By working closely with Fidelity Life, UnderwriteMe aims to set new standards in the insurance sector, focusing on significant improvements in process efficiency and customer satisfaction. This partnership is expected to bring about a transformation in how life insurance is perceived and accessed by customers in New Zealand and Australasia.
Commitment to Technological Innovation
Fidelity Life, a leading life insurance company based in New Zealand, has recently unveiled an enhanced online application tool called E-App. This innovative digital platform was developed in collaboration with insurtech provider UnderwriteMe. The primary goal of E-App is to streamline the underwriting process, ultimately improving the overall customer experience. Rolled out for financial advisers in June, E-App is designed to replace the traditional paper forms that have long been a staple in the industry. By digitizing the application process, Fidelity Life aims to substantially reduce the time it takes to process applications, thus adding a much-needed layer of efficiency for both customers and advisers. This upgrade not only expedites the workflow but also minimizes errors and enhances data accuracy. The ease of use and quick turnaround times make E-App a significant advancement in the life insurance sector, offering a more seamless and user-friendly experience. This move underscores Fidelity Life’s commitment to leveraging technology for better service delivery and operational excellence.
