Life insurer Asteron has scrapped mandatory medical reports for all types of insurance cover, a move believed to be an industry first.

It has also dropped the requirement for clients to provide financial evidence when making claims for income protection insurance.

White-collar clients applying for up to $15,000 a month will not need to provide evidence, while manual workers can apply for up to $7500 under the new rules.

Asteron EGM Jordan Hawke says if a client discloses their medical history properly, the insurer doesn’t see the need for a doctor’s report.

“This is at odds with the industry standard, which says that at a certain level of cover regardless of disclosure, a medical report is required in all instances,” he said.

“We are reducing the problem of delays caused in obtaining mandatory medical reports, some of which can take an inordinate length of time.” 

Mr Hawke says clients take their duty of disclosure seriously.

“Our review found that when we received mandatory underwriting requirements, such as medical reports, we were not gaining any further significant insights, because the client had already painted us a rich enough picture through the application process.”

Mr Hawke says Asteron is able to support higher non‐medical and financial limits, without increasing the cost of premiums due to its analysis of applications. 

“This is a great reflection on the efforts of advisers who are coaching the client through the application process better than ever before,” he said.