Now 95% of underwriting decisions are made within eight hours of questionnaire completion and all within 24 hours, according to Aviva.
When further medical details are needed beyond the standard application process, customers are interviewed over the phone by a team of specially trained nurses to fully understand the applicant's health history. This information is then passed directly to Aviva's underwriting team so an underwriting decision can be made.
In the last year, this streamlined process has helped around 5,000 customers according to Aviva.
Robert Morrison, chief underwriter for Aviva said: "This is a brilliant result for both customers and intermediaries who will benefit from the improved speed of service.
“When a person contacts us regarding life insurance, we want to be able to offer a decision as quickly and smoothly as possible. If additional medical details are required this means the applicant will undergo a more detailed underwriting process to make sure they have the cover that's right for them.”
In 2010 Aviva paid out 99.6% of life insurance claims and 94.7% of all critical illness claims. This was a total of more than £400 million (up from £300 million in 2009) to people claiming through life insurance and critical illness cover. This includes:
- Life insurance claims (death): £271,901,094
- Critical illness claims: £136,604,965
- Child critical illness claims: £770,000
