MLC switches on digital underwriting
MLC Life Insurance has launched a digital underwriting platform as part of its $400 million digital infrastructure transformation.
It says the platform uses a pre-assessment tool to provide an underwriting decision in as little as five minutes, tripling the number of clients who are immediately accepted.
MLC expects 25% more customers will no longer require manual underwriting.
The insurer launched an online platform called LifeView for superannuation funds last year.