Underwriting enhancements deliver an even better experience

31 July 2020

NEOS has made further enhancements to its underwriting rules engine, ensuring its market-leading underwriting experience continues to deliver exceptional speed and efficiencies for advisers and their clients.

The enhancements address adviser and customer feedback and improve NEOS’ internal efficiencies. In addition, the updates have:

  • Simplified the wording of questions relating to certain medical conditions, making it clearer what is being asked of the applicant
  • Improved the online acceptance rate for medical conditions, ensuring the fastest underwriting experience; and
  • Enhanced NEOS’ data collection capabilities, improving the underwriting team’s decision times.

NEOS uses UnderwriteMe, the leading underwriting rules engine (URE) in the UK and Ireland, as their URE platform. However, it’s the coupling of UnderwriteMe with their own, bespoke question set, that has proved to be the winning formula.

Since launch, NEOS has delivered final underwriting decisions on 81.4% of cases within three working days. When combined with their market leading tele-interviewing experience, NEOS truly provides an end-to-end underwriting experience that is second to none.

NEOS Chief Underwriter Gemma Wheeler, explains this is no stroke of luck.

“Continual improvement is part of our culture. In just two years since launch, we have completed over 20 releases with more than 800 individual enhancements to improve our underwriting offer and adviser and customer experience.

“The result is an incredibly efficient underwriting experience, which we believe is world leading.”

NEOS does not plan to rest on its laurels. NEOS is continually enhancing its URE, with the next set of improvements already underway. This means advisers can be confident in the highly efficient underwriting experience they receive from NEOS, both now and into the future.