Insurance New Business Update

NB_Update_EN_1

Insurance & Investments
Simple. Fast. Easy.

Reinforcing our key service levels

We value your feedback and want you to know that restoring our service levels is our top priority. We're pleased to report some improvements in the past two weeks.

The percentages of policies issued within five days are trending upwards again. This recovery is the first sign that our numerous initiatives—aimed at servicing your clients as quickly as possible—are moving our service levels in the right direction.

Industry-wide, PHI (personal health interview) service providers were experiencing two to three week delays during June, which resulted in longer processing times for applications with PHI. These delays have improved to more normal two to three day timelines for processing a PHI but have impacted July's time-to-issue results.

You can help speed up the application process for your clients by using the Fast & Full Life app, opting for the electronic health questionnaire (eHQ) and eContract delivery. By doing this, you can earn up to 20% more FYC¹ until September 30, 2022, with the eBundle Bonus. See below for more information.

For the second half of July, on average, 35% of Fast & Full^® applications were issued in fewer than five days²using electronic Health Questionnaire (eHQ) and eContract delivery. While those are the average issue times, many policies are issued MUCH faster, often within hours.

We'll keep you posted on our progress and actions to improve the processing times in the coming weeks.

Thank you for your continued support!

¹The additional FYC qualifies for bonuses. Available on all life and health insurance products in contracts issued based on applications submitted using the Fast & Full Life App. This promotion can be withdrawn by Empire Life at any time.

² July 16-30, 2022: 35% of policies were issued within five business days when using eHQ and eContract delivery. Data is compared with the previous bi-monthly update from July 1-15, 2022.