Underwriting Made Simpler & Faster September 2017 Caroline Keyes, B. A Underwriting Made Simpler & Faster September 2017 Caroline Keyes, B.A.,FALU,FLMI ACS,AIAA Chief Underwriter, Director Retail Risk

Life & Health Application Changes Introducing 3 new Personal & Health question sets Significant reduction in Risk Questions Available on Fast and Full (eHQ) or Paper Paper application now colour coded for easy navigation Imperative to use only updated applications

Life & Health Application Changes New Personal & Health question sets Adult-Short question set insurance age 18-45 Maximum allowable lifetime limit of Inforce coverage using the adult short question set is $300,000 11 base questions

Life & Health Application New Personal & Health question sets Adult-Full question set use for adults insurance age 18+ applying for all amounts of insurance coverage 16 base questions

Life & Health Application New Personal & Health question sets Juvenile question set use for juveniles insurance age 0-17 Any amount 9 base questions

UW Age & Amount changes Empire Life made the following changes to our Life Age & Amount Underwriting chart July 2016: Remove UHIV from ages 18-40 for amounts $300,001 to $499,999 - Nonmed only requirement now Remove UHIV from ages 41-45 for amounts $300,001 to $499,999 - Nonmed only requirement now Remove UHIV from ages 46-50 for amounts $150,001 to $249,999 - Nonmed only requirement now https://www.empire.ca/docs/pdf/secure/E-0083-UnderwritingGuideLifeInsurance-EN-web.pdf

Empire Life approved Paramedical Vendors Dynacare Insurance Solutions / QUS https://www.dynacare.ca/ http://www.qus.ca/ Hooper Holmes http://www.hooperholmes.ca/ Empire Website Underwriting Information http://www.empire.ca/advisor/support/underwriting/secure/en/

Telephone Interviews Key is to prepare your clients for the PHI Client preparation flyers available on Advisor website

Increase use of Telephone Interviews Advisor completes application faster Application set up by underwriting faster More accurate information and legible No missing questions Underwriters can make decisions faster Reduces questionnaires Calls recorded Claims paid faster

Making Underwriting Simpler & Faster All three question sets are on Fast and Full Option to do PHI or complete question set Paramed = PHI and Vitals All ratings are percentage ratings Preferred Underwriting is available Underwriting Guide available on advisor site for insurance inquiries

We are making it Simpler…. Authorization to disclose personal information to advisor or agency Doctor’s reports requested greatly reduced in 2016 Reinsurance partners Benefits from Reinsurers partnerships

Benefits of Fast and Full Many Upgrades in 2016 Underwriting rules Engine Choice – answer questions or PHI Increased product and benefit offering Critical Illness is now offered Various purposes of insurance More than one owner and insured Key benefit – Instant Approval!

Marijuana rules changed If Marijuana consumed with no nicotine it may be considered non-smoker rates Underwriter needs to have full disclosure on why marijuana consumed Quantity used daily, weekly or monthly If marijuana is used for medicinal purposes we need Dr who prescribed and full details as to why this is the treatment choice

CI Protect and CI Protect Plus CI Protect based on life underwriting decision only Four covered conditions – great value CI Protect Plus – effect Dec 2016 25 covered conditions CLHIA standard definitions Change in CI Smoker definition CI Child rider is available

Why Empire’s Underwriting & Claim Services? Proactive Communication Top quality decision/best offer Agile Underwriting and Claim Team An Underwriting & Claim team with a wealth of knowledge and customer service experience Very proud to say we pay 99% of all claims Team mindset – We want a Customer for life!

Questions……..