tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Wednesday, May 18th, 12:16PM

Insurance

rss
Latest Headlines

Sovereign changes underwriting process

Advisers are being told a new underwriting process at Sovereign will give them a more streamlined service.

Wednesday, May 4th 2016, 6:00AM 1 Comment

The insurer has dropped its team of junior underwriters.

A spokeswoman said, from mid-June, the insurer would have a new process where one underwriting team would look after the underwriting of each application.

In the past, two different teams were involved.

She said Sovereign was committed to ensuring advisers and other partners got the best service possible, and this was a way to do that.

"We continuously look at how we can improve the service based on feedback from our advisers and channel partners."

She said there would be no change to underwriter allocations. "Our business partners will continue to work with the Sovereign underwriting team as they previously have done, but we expect service to improve as one team will be across the whole process."

Insurers said there was hot competition for the best underwriters in the market. They struggle to fill roles that require experienced, senior staff.

Tags: Sovereign

« Triplejump drops staffTerminal illness cover launched »

Special Offers

Comments from our readers

On 12 May 2016 at 6:07 pm Chartchecker said:
I see now, junior underwrites assessing risk who do what they are told when making version changes over time to reduce risk but siphon off premiums at the old risk rate. Very good. I wonder what the new technique will be with one team?

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
Insurance Briefs

Partners first life company to cloud platform
Partners Life completes first stage of the company's claims transformation journey.

Celebrating Earth Day
Insurer takes early step on sustainability journey.

Fidelity Life launches new-look claims content
Fidelity rolls out education material to help explain insurance.

Health insurer response times balloon out
Accuro says its response times have become much longer as it implements a new system.

News Bites
Latest Comments
  • Brian Gaynor dies
    “RIP - a true icon and such a humble person who helped so many....”
    2 days ago by p simone
  • Brian Gaynor dies
    “Very sad. Condolences to him family....”
    2 days ago by sanet.drury@gmail.com
  • Brian Gaynor dies
    “Brian was someone you would always go and listen to if he was presenting at a seminar or conference, someone you would always...”
    2 days ago by MikeBeuvink
  • Brian Gaynor dies
    “A true champion of the industry. My sincere condolences to family, colleagues and friends. ...”
    2 days ago by Pragmatic
  • [GRTV] AIA rolls out direct life insurance plans
    “Thanks Lifeadviser1, and it is great to see you have been having a play in the system. You are right, in the original...”
    2 days ago by Sam.Tremethick
Subscribe Now

Cover Notes - Specific news aimed at risk advisers

Previous News
Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com
x