Fidelity Life unveils enhanced online application tool

Fidelity Life unveils enhanced online application tool | Insurance Business New Zealand

Technology

Fidelity Life unveils enhanced online application tool

Underwriting process simplified

Technology

By
Roxanne Libatique

New Zealand-based life insurer Fidelity Life has launched an upgraded online application tool, E-App, through a collaboration with insurtech provider UnderwriteMe.

Rolled out to financial advisers in June, the new E-App aims to streamline the underwriting process and improve the user experience for Fidelity Life customers.

By leveraging UnderwriteMe’s decision platform, Fidelity Life has simplified the underwriting process. The platform features streamlined questionnaires and immediate feedback on underwriting assessments, which can lead to instant acceptance for some customers. This approach aims to ensure the E-App adapts to the needs of both customers and financial advisers.

Niall McConville, chief insurance officer at Fidelity Life, emphasised the company’s goal to make financial advice and insurance protection more accessible.

“Fidelity Life is here for the good of New Zealand by working to make financial advice and insurance protection more accessible,” he said. “Our new E-App is already making a difference by unlocking benefits for our customers, advisers, and for our business. The implementation of a highly flexible rules engine in collaboration with UnderwriteMe is a key foundation of our strategy to make life insurance easier and more accessible for New Zealanders. We look forward to continuing to create and innovate with UnderwriteMe.”

UnderwriteMe’s partnership with Australasian insurance companies

UnderwriteMe has also partnered with various insurance providers across Australasia to offer scalable solutions that enhance underwriting efficiency.

These solutions aim to provide insurers with robust data and analytics, supporting quicker decision-making and better customer service.

As an insurtech company, UnderwriteMe reiterated its commitment to driving technological advancements in the life insurance sector.

Paul Hughes, head of Asia Pacific at UnderwriteMe, noted the efficiency challenges faced by financial advisers in the Australian and New Zealand markets.

“Within the Australian and New Zealand markets, UnderwriteMe has observed a key pain point for financial advisers around efficiency in the new business and underwriting process, and we are delighted to partner with Fidelity Life, using technology and data to innovate and to make insurance more accessible for customers,” he said.