2007
(06/11/2007) AXA scraps automatic General Practitioners Reports(GPRs) for under 45s
AXA has abolished automatic GPR limits for consumers under 45 applying for Life or Critical Illness products.
The changes are in response to feedback from financial advisers regarding the lengthy delays caused by obtaining GPRs and will speed up application times for consumers.
In addition, automatic GPR limits for under 45s’ Income Protection applications will increase to £50,000.
Instead, greater use will be made of nurse screenings or blood tests, which are on average 10-15 days quicker than a GPR.
Mike Taylor, AXA’s Chief Underwriter, said: “Our market-leading Tele-underwriting process means the need for GPRs is significantly reduced and in the light of lengthy delays and spiralling costs of GPRs we’ve decided to break away from their automatic use for younger ages.
“Consistently AXA’s findings are that the majority of non-disclosure is for older lives, because applicants are likely to have a more complex medical history to report, which is where GPRs become valuable.
“For younger lives, especially those who do not have any medical problems, a screening provides an underwriter with a better view of their health including build, habits and blood pressure. It’s also a second opportunity for the consumer to reveal any medical information, further reducing non-disclosure.”
The changes come into force from November 3.
Notes to Editors
AXA Protection will continue to use GPRs for discretionary purposes and to monitor non-disclosure rates.
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About AXA
AXA UK is a part of the AXA Group. AXA Group is a worldwide leader in Financial Protection. AXA's operations are diverse geographically, with major operations in Western Europe, North America and the Asia/Pacific area. For full year 2006, IFRS revenues amounted to €79 billion and adjusted earnings amounted to €5,140 million.
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