KSKJ 2023 New Product News!

[jdeasy]

It's 16 tables

 

[DonP]

No it won't

copd will get better rates than now.

So the most aggressive ailments will get better rates now ? And the healthier people will also get better rates ? How do you quote a rate now ahead of time if there's 16 possible rates ?

 

[jdeasy]

So the most aggressive ailments will get better rates now ? And the healthier people will also get better rates ? How do you quote a rate now ahead of time if there's 16 possible rates ?

Gotta have skills.

Seriously, quoting will be a bit of a challenge.
quoting accurately I mean.

Copd with no other complications will pay less. Lupus will pay more.

I love the idea. I'm leery of the practice.

 

[rmhaire]

I couldn't keep up with 16 tables even if I had the head underwriter with me on a ride-a-long.

 

[jdeasy]

I couldn't keep up with 16 tables even if I had the head underwriter with me on a ride-a-long.

Gotta have skills.

 

[Newby]

But are they signing a bunch of documents before they get their quote. IE mib and script check notices? I get it and I would love something similar on the term market.

Have you ever sold a fully underwritten product before? You don't really know what rate they qualify for until the underwriters look at them and make an offer right? This will be similar except you will know in 5-minutes rather than 2-weeks.

 

[jdeasy]

So the most aggressive ailments will get better rates now ? And the healthier people will also get better rates ? How do you quote a rate now ahead of time if there's 16 possible rates ?

Cliff notes version, the common ailments we see, COPD, insulin use, AFIB, etc., will be better priced. The less common, Lupus, Parkinson's, etc. will most likely cost more than now.

Somethings that modified now will be level coverage as will some declines now. The pricing there will be the story. We don't know that yet.

But the person can decide to accept or reject.

They do not sign anything to get a quote.

There's going to be a learning curve. I've had to learn new things for 20 years though.

The idea looks great. It reminds me a bit of the old "clinical underwriting" that US Financial did many years ago. Instead of lumping diseases into one question and everyone that has one of those gets that rate. The good side for the person that had them all got the same rate as the person that had one. This changes that.

Is that a good thing? If it a good thing in the FE space? I don't know. My opinion is that it is. But I've been doing this long enough to have seen many ideas that looked good turn out to not be.

We'll see.

 

[DonP]

Cliff notes version, the common ailments we see, COPD, insulin use, AFIB, etc., will be better priced. The less common, Lupus, Parkinson's, etc. will most likely cost more than now.

Somethings that modified now will be level coverage as will some declines now. The pricing there will be the story. We don't know that yet.

But the person can decide to accept or reject.

They do not sign anything to get a quote.

There's going to be a learning curve. I've had to learn new things for 20 years though.

The idea looks great. It reminds me a bit of the old "clinical underwriting" that US Financial did many years ago. Instead of lumping diseases into one question and everyone that has one of those gets that rate. The good side for the person that had them all got the same rate as the person that had one. This changes that.

Is that a good thing? If it a good thing in the FE space? I don't know. My opinion is that it is. But I've been doing this long enough to have seen many ideas that looked good turn out to not be.

We'll see.

I think the hard part is not being able to quote someone up front . Not being able to say with certainty " Mrs Johnson I can give you $13 k for same cost your paying for $10k " Scott's saying it could take 5 mins to get a price after you submit ? I like certainty when quoting . It's why I now avoid Accendo . They refer to much to underwriting and were rejecting apps others took no problem . But as you said see how it goes .

 

[jdeasy]

I think the hard part is not being able to quote someone up front . Not being able to say with certainty " Mrs Johnson I can give you $13 k for same cost your paying for $10k " Scott's saying it could take 5 mins to get a price after you submit ? I like certainty when quoting . It's why I now avoid Accendo . They refer to much to underwriting and were rejecting apps others took no problem . But as you said see how it goes .

I agree. I haven't seen the finished version. They say we will be able to quote.

But it will take some skills. It does now though.

When I ask the medical questions and I quote them select they have a price.

Everyone I quote select doesn't get select once I do the eApp. Some get an offer of standard. Some get an offer of modified and some get declined.

If I quote select and they get offered standard I look to see if there's a better option. Usually there is not. So we proceed.

That won't change. Sometimes now I quote standard and eApp offers select.

People are much more happy with that than the other.

Being instant decision will solve most problems. If you had to send it in and wait it would be a huge problem.

 

[Tahoe Ray]

This will be similar except you will know in 5-minutes rather than 2-weeks.

2 weeks? That would be awesome hahahaha.