Copyright 2004 PR Newswire Association, Inc.
PR Newswire
September 28, 2004, Tuesday 11:01 AM Eastern Time
FINANCIAL NEWS
TO BUSINESS EDITOR
436 words
Aviva Delivers Insurance Underwriting Responses to Banks Within 15 Minutes
Simplified Process Improves Service and Makes Sales of Life Insurance
Easier for Banks' Agents
NORTH QUINCY, Mass., Sept. 28 /PRNewswire/ -- Aviva Life Insurance Company (Aviva) recently launched "AvivaGo(TM) 1-5-15," a simplified insurance application and submission process for banks selling their products. A pivotal feature of the innovative process is the delivery of underwriting responses within 15 minutes of an application submittal.
In addition to a 15-minute response to submitted applications, AvivaGo 1- 5-15 features one application for all Aviva underwritten life products and five simple medical questions. This streamlined approach is the first of its kind to be available to banks for an entire portfolio of life insurance products including term, whole life and single premium universal life policies.
All of Aviva's bank partners are currently using AvivaGo 1-5-15 processing and report that the fast turnaround is enabling them to write more life policies, while enhancing efficiency and customer service.
Lou George, Chief Operating Officer of M&T Securities, Inc., said, "The quick, hassle-free approach of AvivaGo fits extremely well with the fast-paced nature of our business. With a single, simple application for the entire product line and a 15-minute underwriting response compared to over a week traditionally, we benefit from improved customer service, efficiency and productivity."
The AvivaGo 1-5-15 process enables the licensed bank agent to fax an application directly to an Aviva underwriter, who faxes back a response within 15 minutes. Qualified customers answering "no" to all five medical questions can be approved based on the application alone. For applicants identifying medical conditions, the underwriter can often obtain any additionally needed information at the point of sale through a brief tele-interview, helping to expedite the decision and reduce the need to order medical follow-up.
Aviva Life Insurance Company is a subsidiary of London-based Aviva plc. Aviva plc has roots dating back to 1696 and is one of the 10 largest insurance groups in the world. One of the fastest-growing U.S. life insurers, Aviva Life Insurance Company offers a competitive portfolio of fixed life insurance and annuity products through select independent agents, banks and brokers.
SOURCE Aviva Life Insurance Company
CONTACT: Mark McVeigh of Aviva Life Insurance Company Financial Institution Marketing, +1-800-225-8073 ext. 6270, mmcveigh@avivausa.com
URL: http://www.prnewswire.com
September 28, 2004
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