Acenda inks new deal for ‘end-to-end’ digital life insurance solution
Following on from its partnership with EQPathology to create digital Personal Medical Attendant Reports (PMARs), Acenda has secured a new deal with UnderwriteMe to launch a fully digital integrated underwriting process.
The partnership with UnderwriteMe will see medical evidence, such as doctors’ reports and blood test results, able to be accessed by Acenda’s underwriting system and effectively speed up the rate at which life insurance claims and cover can be approved.
“Acenda’s partnership with UnderwriteMe is an industry first innovation that transforms the collection and processing of medical information,” Jane Murray, Chief Operating Officer at Acenda, said.
“In a ground-breaking initiative, the underwriting process will be fully digitised creating a capability where automated underwriting decisions can occur where medical evidence is required. This will create a seamless experience for customers.”
The new collaboration builds on Acenda’s most recent partnership with EQ Pathology to develop digital PMARs, also easing the administrative burden on doctors during the underwriting process.
“It is part of Acenda’s commitment to innovation, along with creating speed in our decisions to support our adviser partners and customers, as one of Australia’s leading life insurers,” Gerard Kerr, Acenda’s Chief Executive Individual Business, said.
The partnerships come as Acenda prepares to merge with Resolution Life later this year, following parent company Nippon Life’s acquisition of its fellow life insurer, to create the Acenda Group.
“UnderwriteMe have been proud supporters of Acenda for several years in the Australian market, and this latest innovation is a game changer,” Paul Hughes, Chief Revenue and Customer Officer for UnderwriteMe, said.
“By leveraging technology to solve critical challenges in secondary evidence underwriting, Acenda are making it easier for Australians to obtain their cover in a swifter and smoother way. We are delighted to have collaborated with Acenda and EQ Pathology in delivering this exciting, industry first innovation.”
Will we be able to look up and compare AMP’s underperforming and performance test challenged funds too?
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