Protection Tomorrow May 2021 | Page 24

24 PROTECTION TOMORROW
That said , we ’ ve suffered delays in collecting medical evidence as we ’ ve endeavoured to put the needs of the NHS ahead of the protection industry ’ s own . Carrying out virtual medicals and utilising more of the information provided by customers are just some of the ways providers have adapted .
This need to adapt has made us consider an alternative approach to traditional underwriting , one that ’ ll help us to provide some clients with cover immediately while continuing the underwriting process in the background .
Why did we think it was the right time to develop this option ?
An ongoing activity for any protection provider is finding innovative ways to improve the end-to-end experience advisers and customers go through when they start a protection journey . This is especially key for business protection and Relevant Life Plans ( RLP ) where clients tend to have more medical disclosures and higher sums insured . Therefore , they have a greater need for medical evidence . At the height of the pandemic , both GP reports and face-to-face medical examinations were difficult to obtain which led to the slowdown of protection cover going on risk .
Our new Underwrite Later option on our business protection plans puts your client ’ s cover fully on risk without any additional exclusions added as standard and provides them with peace of mind their business is protected immediately without any delays .
Jennifer Gilchrist
Proposition Specialist Royal London
Over the past year , the protection industry has had to change at lightning speed and take on a more digital approach .
From an underwriting perspective , I think I ’ ve seen more changes in the last nine months than we ’ ve ever seen before – some being achieved within hours or days ! And while this has been a bit more restrictive in some areas for advisers and customers , it ’ s enabled us to continue providing access to full protection cover for the vast majority .