2008
(14/04/2008) AXA introduces first roving underwriter service
AXA has introduced a roving underwriter service offering intermediaries individual visits.
The service has been created in response to demand from financial advisers for a stronger understanding of the complexities of protection underwriting.
Roving underwriters will spend time visiting AXA’s key accounts to answer queries and give advice on all underwriting issues.
This is believed to be the first time this service has been offered in the market,
Underwriters will also be accompanying the sales team on visits to advisers to give an insight into AXA’s underwriting philosophies and processes.
Dan Musty, a senior underwriter who was previously part of AXA’s large case underwriting team, will be the first underwriter providing the innovative service.
He will be talking to advisers about FSA guideline changes, technical medical queries, and business protection and financial underwriting.
Mike Taylor, Chief Underwriter for Protection at AXA, said: “The introduction of this service is key in promoting and explaining the continuing innovations in AXA’s underwriting philosophy.
“As far as we’re aware this is the first time a UK protection provider has offered a roving underwriter service and we’re expecting a lot of demand from our key accounts.
“Just a few years ago underwriting was seen as a back office function, but it’s now part of the sharp end of protection sales.
“Our key accounts have requested more access to our underwriting team, which is why we’ve decided to bring in roving underwriters to be deployed in the field.
“Dan will help explain our underwriting philosophies in a straightforward and convenient way.”
Dan said: “I’m delighted to be promoted into this new role because I think this service will really add value to our relationships with advisers.”
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More information
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Notes to editors
The AXA Protection Account was launched in 2004 and products include Life Cover, Critical Illness Cover, Income Protection Cover, Life or Earlier Critical Illness Cover, Mortgage Income Protection Cover, Accident Sickness & Unemployment Cover and Business Cover: Keyperson Protection, Shareholder Protection and Partnership Protection.
AXA Protection accepts over 75% of lives at normal rates and declines less than 2.5% of lives. AXA Protection was the first UK insurer to launch full tele-underwriting nationwide and 2007 statistics show just 1.23% non-disclosure for tele-underwritten applications.
AXA Protection was winner of What Mortgage Magazine's award for Best Life Insurance Provider in 2007. In 2008 Defaqto awarded AXA 5 Stars for its Level and Decreasing Critical Illness, Stand Alone Critical Illness and Income Protection products. AXA also won Most Improved Provider, Best New Initiative, Best Underwriting Team, Best Individual Impact – Naomi Greatorex, TCF Award and Best Overall Provider at the LifeSearch Awards 2008.
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 Europe, North America and the Asia/Pacific area. IFRS revenues amounted to €94 billion for the full year 2007.
The AXA ordinary share is listed on Eurolist A of Euronext Paris under the ticker symbol CS (ISIN FR0000120628 – Bloomberg: CS FP – Reuters: AXAF.PA). The American Depository Share is also listed on the NYSE under the ticker symbol AXA. Our previous company performance is not a guide to how we may perform in the future.