Qorus Innovation in Insurance Awards 2024

Straight Through Processing for new FNB Life Customised Underwritten Life Insurance customers

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Insurance Innovation


Implemented process improvements that reduced the need for manual underwriting by half for customers seeking comprehensive life insurance coverage.

Innovation presentation

FNB has improved the throughput rate of customers purchasing underwritten life insurance on the FNB App.

This was done using a combination of data analytics and behavioural science to improve the customer journey and response accuracy ensuring more customers have cover activated immediately.

This integrated solution aims to provide clients with a more convenient, efficient, and faster life insurance purchasing experience:

1. Faster activation of cover: Fewer customers were required to go for medical tests and manual underwriting by a person which reduced the time for customers to access cover.

2. Seamless Experience: Clients experience a hassle-free process, with more automated underwriting decisioning.

3. Enhanced customer experience: Fewer and more relevant optionality results in customers feeling more confident in the sales process and having better understanding of what they purchased and being offered what resonates with them.

4. Innovation and Pioneering Services: This enhanced automation demonstrates a commitment to cutting-edge solutions that prioritize customer well-being.

Uniqueness of the project

The Innovation used a combination data analytics and behavioural science to ensure more accurate responses from customers and a simpler customer journey. A series of micro-innovations have resulted in more than double the number of customers having their cover automatically activated when submitted applications digitally. This enhanced process has ensured that significantly more customers access life insurance without requiring any human intervention albeit at sales or underwriting stage.

This process has additionally improved overall access to life insurance in our market - as well as penetration into the captive FNB base. The innovation itself was incepted and implemented within 4-months, with rigorous testing, providing a rapid response to a key business problem.

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