The new system allows qualifying applications to be accepted immediately at the point of sale, without any further underwriting information being requested, such as a doctor’s report or medical examination.
To qualify for “immediate acceptance” applicants need to apply for one or two year cover and be aged 45 years or under where the benefit selected is £300 per week or less (or £1,300 per month or less).
When applying online, advisers will be given the opportunity to complete a short series of lifestyle and health questions, which could then offer immediate acceptance without the need for further underwriting.
Ricky Butler, LifeSearch head of performance, said: “We welcome this new faster system from British Friendly as it means customers can be covered much sooner.
“It is designed for younger, healthier and generally lower risk applicants who can now be covered immediately without any further medical underwriting. Overall it provides a quicker; better journey for our customers as well as reducing administration for advisers.”
British Friendly CEO, Mark Myers, said: “We have improved our application process so that many clients may now qualify for immediate acceptance, which was a key point based upon the regular feedback we seek from advisers.”
Kesh Thukaram, director of Best Insurance, added: “We regularly recommend British Friendly, and this new process for their short term cover will help us write more business more quickly. We were the first adviser firm to use the new system.
“The process is incredibly customer focused, flexible and empowers the adviser to incept the policy. We believe it will save us around up to ten hours per week on average, per adviser, in reduced administration time.”