Aecent study suggests that replacing the traditional paper application process with one that enables applicants to provide information directly to insurers by telephone or the Web offers significant benefits.According to Boston-based Celent Communications Inc., carriers that implement teleunderwriting for at least select lines of business can achieve five major benefits: focus agents on selling; reduce costs while driving revenue; reduce new business cycle time; bring new channels online more quickly; and progress toward a future vision for new business.
More carriers are deciding that connecting proposed insureds directly to underwriters is the most efficient way to "get the right data in the hands of the people who need it," according Celent's report, "Phoning It In: Teleunderwriting Comes of Age."
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