It is important to choose the model that matches the need of the insurance company. Generally tele-underwriting is a major tool for a company seeking to eliminate paper at the point of sale, reduce technical cost, centralise and standardise the risk assessment process, or implement a service outsourcing strategy. It could also support additional objectives: contributing to reducing the average time for policy issue, the number of cases requiring additional medical reports or medical evidence, and reducing non-disclosure rates. Tele-underwriting is also a mean of differentiation and therefore a source of competitive advantage. It could potentially be constituent of a new product or service proposition.

SCOR Global Life, as a leader in this field, is currently working with a UK based underwriting consultant, Select X, to better understand how tele-underwriting is carried out worldwide and to benchmark best practices from the findings. As part of this work, a worldwide survey is being conducted where direct insurance companies will be contacted and asked to complete an internet-based questionnaire. A comprehensive publication in several languages will be produced in Autumn 2009.   

Until now surveys have been carried out in individual markets but there has been no attempt to understand the global landscape and consolidate experience. This is the first global survey on tele-underwriting which is being lead by SCOR Global Life. The survey, conducted by Select X, commenced at the end of May in the USA and Canada, and continues with the other markets in June.

The markets participating in the survey are as follows:
USA and Canada;
UK and Ireland;
Continental Europe;
Australia, New Zealand and South Africa;
Asia and the Middle East;
Mexico, Latin America and the Caribbean.

If you wish to participate in the survey please contact your usual SCOR representative or send an email to life@scor.com