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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

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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?

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