Don't take shortcuts in underwriting process; incomplete application information can cause major problems down the line for producers, carriers and clients
Article Abstract:
Underwriters should make sure that they convey all the information gathered about a client to their insurance companies to prevent major problems from occurring. Inaccurate or incomplete underwriting information submitted to insurance carriers can be prevented by recording a client's full answer to nonmedical and application questions. It is important that underwriters read these questions exactly as they are written, and they should not make judgments about what information should be submitted to their carriers.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
Reach out and underwrite somebody
Article Abstract:
Teleunderwriting presents advantages and opportunities for insurance companies. It facilitates the application process which enables producers to focus on other key business concerns. It allows insurance companies to obtain better information and use this information to make underwriting decisions related to risk selection. Teleunderwriting also streamlines the underwriting process that gives customers faster and more efficient service.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Don't cut the lifeline between home and field: they may not always agree, but by working together, home office and field underwriters can sometimes achieve the impossible
Article Abstract:
The home office underwriting staff and the field underwriters must work well together in order to obtain excellent underwriting for the customer. The field underwriters speak with the customer and find out their needs while the home office underwriter conducts the assessment. Both underwriting staffs need each other in order to achieve the maximum results for their customers.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Technology is vital to good underwriting; underwriters are using technology in imaginative ways, but there is always room for some improvement
- Abstracts: The smart system for protecting property. Lead liability claims raise coverage concerns. Focus on the facts in your investigations
- Abstracts: Participating policyholder rights: the next challenge. CD/policy loan offers bank-product alternative. A way to compare apples to oranges
- Abstracts: Who can help my agency redefine our workflows? Student internships develop jobs and talent. Commission reductions can foil production
- Abstracts: When America's heartland skips a beat. What does the future hold for independent agents? Will insurance be here in 30 more years?