UK & Ireland Life
The underwriting team at UK & Ireland Life consists of medical, scheme and development underwriters all with many years of experience across life and living benefits.
Our philosophy is to deliver underwriting excellence and to work with you using our local and global knowledge to attain both profitable and predictable insurance results.
We offer effective and efficient risk management of large and complex referrals within agreed SLAs (Service Level Agreements). We pride ourselves on frequently exceeding our client focused SLA agreements.
MIRA
At Munich Re we offer access to guidelines on risk assessment through our underwriting manual, MIRA (Munich Re Internet Risk Assessor). MIRA is updated regularly and our ratings are evidence based. We promote MIRA as a guide and appreciate you may adopt your own philosophies based on your experience and portfolio of business. You can find out more about MIRA by following this link. Alternatively log in to view contact details for our MIRA expert.
Contact Us
If you would like to find out more about UK & Ireland Life's underwriting team please contact your Business Development Manager or Underwriting contact, alternatively you can get in touch through our Contact Us page.
Client Audits
We provide a number of client services. These include personalised training, benchmarking, electronic underwriting rules development plus audit and underwriting process audits.
Our underwriting process audit looks at your entire end to end underwriting process, from the moment a sale begins to when it goes on the books - providing you with impartial advice on maximising value.
The material impact for clients from underwriting process audits has ranged from reduced costs to an increase in efficiency. Two examples of the benefits delivered are as follows:
1. Client X approached UK & Ireland Life sensing they were requesting too many GP Reports. We reviewed 100 cases and recommended they asked for alternative evidence. After the review, our alternative recommendations resulted in a potential cost saving of 15% in the client's medical fees budget.
2. Client Y requested an end to end process review. After the review, we made a number of improvements that reduced administrative time for the client by 50%.
3. Client Z requested an electronic underwriting benchmarking exercise. Following the review they discovered that one of their top traversed rules was accepting 92% of cases at O/R whilst industry peers were only accepting on average 77% at O/R. This highlighted that from a risk assessment perspective, the rule had been configured overly generously and needed to be re-designed.