1. Automated Underwriting
JULY STUDY GROUP

2. Upcoming Calls Tech Talk Maintaining a Mac Machine and Network
August 7 at 10:00am CST
Tech Talk
Maintaining a Mac Machine and Network
August 16 at 10:30am CST
Study Group
New Carrier with Top MYGA Rates
August 14 at 2:00pm CST

3. Assistant Vice President of Advanced Design
On the call
Steve Schreiber
Assistant Vice President of Advanced Design
Bob Maruska
LTC & DI Specialist

4. Automated underwriting Simplified underwriting
Non-medical underwriting

5. What do we look for?

6. What do we look for: Quoting options
Products available
Issue age limits
Face amount limits
Risk class limits and availability
Products Available: Some carriers have designed a specific product for their Automated Underwriting platforms, some use traditional ‘off the shelf’ products.
Traditional Quoting Options: Product(s) available to quote through traditional platforms such as Winflex, Compulife, iPipeline, etc.
Carrier Software Only: Only option to quote the software is carrier website or standalone software.

7. What do we look for: Application Submission
Paper application availability
Electronic application availability
Paper ticket availability
Electronic ticket availability
Ticket platforms
Can we bind coverage?
Paper Application: Traditional long form application that an agent must complete on paper and submit to the carrier via fax, mail or secure .
Electronic Application: A traditional long form, complete application that an agent completes and submits electronically.
Paper Ticket: Agent completes a 1 – 2-page paper ticket to submit to the carrier or fulfillment center to allow them to complete the full application.
Electronic Ticket: Agent completes a 1 – 2-page electronic ticket to submit to the carrier or fulfillment center to allow them to complete the full application.
Electronic Application/Ticket Platforms Supported: Available transmission methods for Electronic Applications and/or Electronic Tickets.

8. What do we look for: Underwriting process
Database checks
Lab requirements
Are medical records required?
Type of telephone interview and fulfillment
Post interview turnaround
Quality control process
Database Checks: Standard databases that carriers use such as Medical Information Bureau (MIB), Motor Vehicle Records (MVR) and Prescription Check to obtain information about the client.
Lab Requirement: Some carriers have the discretion with their product or platform to order labs if the initial review comes back other than the risk classes designated as “Lab Free”.
Phone Interview: Generally, a 15 – 30-minute phone interview conducted by a representative of the company (Company employee or third party vendor contracted to complete interview) to review the full application with the applicant.
Turnaround Time: Standard time quoted by the carrier to provide final decision once all requirements are received.

9. What do we look for: Policy delivery
Electronic signature availability
Does the policy go directly to the consumer?
Payment options
Electronic Signature: Option for consumers to sign via electronic affirmation that they have received and agree to delivery requirements and conditions for the policy to be put in force.
Electronic Delivery: An option to have delivery requirements sent via a link to a consumer.
Electronic Policy: Carrier provides the option of sending an electronic policy, usually as a PDF, to a client in place of or in addition to a traditional bound paper policy.

10. FHC’s quick reference guide
Non medical underwriting & simplified issue

11. Upcoming Calls Tech Talk Maintaining a Mac Machine and Network
August 7 at 10:00am CST
Tech Talk
Maintaining a Mac Machine and Network
August 16 at 10:30am CST
Study Group
New Carrier with Top MYGA Rates
August 14 at 2:00pm CST

12. Thank you for the time!