US-based MetLife has introduced a new life insurance field underwriting tool, QuickPredict, which allows financial professionals to provide better services for their clients.
MetLife QuickPredict is a rules-based tool that estimates a client’s likely rating class in a simple-to-use on line format. It can be viewed on computer, tablet, or smartphone, which allows financial professionals to provide more accurate policy premium estimates.
MetLife Premier Client Group’s Maginn Wealth Advisors’ Susan Maginn Christ said: "With MetLife QuickPredict, someone can leave my office with the knowledge that we’ve provided a more accurate estimate of the underwriting class for their life insurance policy.
"One of the most frustrating things for life-insurance applicants is hearing back weeks later from a financial professional or insurance company underwriting department that the policy they have applied for will cost them more than they thought."
The new tool should be used solely as a guide, while the questions in this tool focus on the most common reasons a person may or may not qualify for an elite or preferred rating.
MetLife said that the tool is available for the firm’s producers by desktop, laptop, tablet, or smartphone, and it was rolled out nationwide in late September to the companies that sell its life insurance products.
MetLife, through its subsidiaries and affiliates, offers life insurance, annuities, employee benefits and asset management services.