Does it seem like it's taking longer than it should to complete your cases? These five strategies can help you move business through underwriting quickly to complete your cases faster.
Communication is key to all good relationships. We are building those relationships daily with our clients, carriers, and anyone else we interact with. Working with your team of sales and new business contacts will provide you with a solid foundation to a positive relationship with your team. Weekly calls to go over status of pending cases and conversations about up and coming cases is a productive way to open lines of communication.
2. Field Underwriting
Underwriters do not expect producers to know everything when it comes to underwriting impairments, but knowing if the client has any medical history or lifestyle challenges is a huge factor to moving a case through the underwriting process. Always go back to What, When, Who and How:
- What is the history
- When was it diagnosed
- Who is the doctor with name, address and phone
- How is it treated
Any other details gathered are always helpful. This information is important to consider when choosing the correct carrier.
3. IGO Apps and Forms
“In Good Order” is the industry term for having your T’s crossed and I’s dotted, or the application and forms are fully completed with all questions answered. This is not always easy with 20 or more pages to complete for each application. A review of the application by your assistant or New Business Contact prior to submission is generally recommended.
4. Cover letters
Every case has a different story and some need to be told more than others. The more times an underwriter needs to look at a file, the more they will see and question. This leads to more delays. Providing details upfront helps all involved to understand your client and work to get a decision as fast as possible.
Have a clear expectation of the process in which you are submitting your application. Examples: knowing how long an exam takes and what the appointment will consist of, E-application processes vs paper applications, how long it takes to order and receive medical records, and how to speed up the process. Understanding the processes and how it allows for business to move through underwriting can bring your case to completion faster.
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