Risk advisers using Aviva's online underwriting platform, Riskfirst, can cut waiting times for medical evidence from an average of 20 days to just seven.
Risk advisers using Aviva's online underwriting platform, Riskfirst, can cut waiting times for medical evidence from an average of 20 days to just seven.
Natalie Eckersall, general manager wealth protection, said: "Delays in obtaining medical tests is the biggest reason why advisers and their clients wait for policies to be issued."
"Since 11 October 2007, Aviva has allowed advisers using Riskfirst or paper based applications to nominate Aviva to arrange any mandatory medical requirements direct with Lifescreen Australia. It's easy and the potential time saving is two weeks."
Lifescreen is an independent company that provides streamlined customised health evaluation services for advisers and their clients. It cuts time by offering a convenient and customer-oriented service, through the skill of experienced nurses and medical specialists, and its access to fully accredited pathology laboratories.
Natalie said the move is in line with Aviva's complete revamp of its underwriting strategy, which to date has included the launch of Tele-underwriting in 2006, online signature-free underwriting in 2007 and now the medical referral service.
"Since aligning our Tele-underwriting service with our detailed underwriting reflexive questioning, our Personal Medical Attendant's Report request rate has decreased by 20%," said Natalie.
Aviva's Tele-underwriting service allows the adviser to authorise Aviva to collect additional medical information on their behalf by telephone. A tele-interviewer is trained to collect the necessary additional information to finalise assessments and minimise the need for further follow up by a client's doctor.
In June last year Aviva continued to lead innovation in the industry by completing the national rollout of its online underwriting platform, Riskfirst, to more than 4,000 advisers - the first to offer totally signature-free applications.
"Riskfirst enables dramatically faster completion of life insurance policies," Natalie said. "Underwritten policies may be issued immediately on completion of the online form, cutting weeks off the application process."
"Aviva is focused on cutting underwriting times so advisers can do less administration and focus on the needs of their clients. The Lifescreen direct referral service is another step in the right direction. It not only removes this administrative burden from advisers but also ensures a swifter turnaround on these items."
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Notes to editors:
About Aviva
We are the Australian face of the global Aviva group - a world leader in financial services.
Aviva is the world's fifth-largest insurance group and the largest insurance services provider in the United Kingdom. We are the leading provider of life and pension products in Europe and are actively growing our long-term savings businesses in Asian markets, the USA and Australia.
We have premium income and investment sales of $93 billion and $845 billion of assets under management. Our 59,000 employees serve over 40 million customers.
Aviva has over 150 years of continuous operation in Australia, where our main activities are life insurance, investments and superannuation.
Aviva's consistent record of innovation in the financial planning market dates back to the early 1990s when its Navigator technology and platform first allowed a range of investments to be consolidated into one portfolio. Today, Aviva continues to lead the industry with award-winning wealth creation and wealth protection products.
Portfolio Partners, a funds management company which is also part of the Aviva group, operates independently in Australia. Together we manage or administer more than $27 billion in funds for more than 300,000 customers.
*Figures quoted are at end December 2007 and in Australian dollars.
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