Protection Update 4th March 2022
Hi everyone, welcome to this week’s protection update. Now I’m not actually here this week so this is a pre recorded update and it’s a bit shorter than usual.
What I want to talk about is UnderwriteMe.
Have you signed up for it yet? Do you know what it is?
We spoke about it at our virtual roadshows at the beginning of February where we gave you a sneak peek and then UnderwriteMe delivered a series of drop in webinars recently where you could really get to see how it all works.
What is it and how does it work?
Let’s say you’ve got a customer who has some kind of issue which you think might be a problem when it comes to obtaining standard rates.
They could have an existing condition. They could be taking medication. They could have a high BMI. They could have something else where you’re nervous to simply pull off a quotation, because the reality is that they might not get the cover at those rates?
What do you do?
Start phoning around every underwriter from every life company?
Even then, you just don’t know where things will end up.
For me, this has been a gap in our proposition since I arrived and I’m convinced we lose business because of what I’ve just outlined.
But beyond that; there is a customer who needs the cover. And maybe doesn’t always get it.
Well think of the UnderwriteMe Protection Platform as a tool in your kit bag. We’re not mandating that you use it. We’re not changing the sales process. Everything stays the same.
But, if you do get a situation where you’re struggling to get the cover; take a look at UnderwriteMe because what you will see are underwritten quotes, at the point of recommendation.
Let me say that again. Before you make your recommendation; you’ll know the terms from a range of different providers.
I saw a note from Richard Jennings last week who felt compelled to write something on LinkedIn:
He wrote:
It’s not often I am surprised or wowed so easily having worked in the industry since 2004 however tonight definitely breaks that.
The Right Mortgage and Protection Network have recently given all their AR’s access to UnderwriteMe.
I have just placed a life insurance application for a client who I have been going back an forth with insurers for 3 months trying to get a decision, waiting on medical reports to then be declined.
30 Minutes start to finish on UnderwriteMe’s system and I had 3 insurers provide terms with the client insured on the spot.
I would definitely recommend and a huge thanks to Vincent O’Connor for organising this for the networks AR’s
Thanks, Richard, for those kind words; but more importantly, an honest appraisal from a real adviser is a great testament to whether this is of use to you or not.
Now, I’m not saying it’s perfect. I’m not saying it will deliver a perfect solution every time. But it’s not going to cost you anything and it will help you for the reasons I’ve just outlined.
Now if you did miss any of the launch, I’ve added a link to a recording of the demonstration webinar so you can see how it all works. This video is embedded into a new page on the adviser site on which I’ve added a full Q&A section to you can find out more.
Read More about UnderwriteMe here >>
We’ve done all the hard work for you to set up your account, but you have to actually register for the protection platform if you want to use it – it’s easy.
So that’s it from me for another week.
I’ll be back on Monday from my week off so I’ll speak to many of you then!
