11 August 2017 07:00
Aziz Rguigue and Michael Aziz
Financial Foresters is passed to the electronic application across Canada in 2015, except in Quebec because of the technical details. It will soon be launched.
It is this that has revealed its sales director, Aziz Rguigue, during an interview with the Journal of insurance the 8 June. «After a pilot project running for several months in other provinces, our electronic application is entering its final phase. We expect to launch across Canada, our proposal Web with electronic signature in a few weeks «
Foresters is keen to facilitate the process across Canada, at the time or both of its products with full underwriting to issuance simplified know to be a success. To the point that Foresters beyond the scope of its market is a traditional family.
«Increasingly, advisers who qualify to sell our products to affluent clients and contractors, thanks to our product’s entire life with participation, Benefit More. He ranks first on the system of price comparison Lifeguide. «
The products at full subscription are not immediate acceptance. Products simplified are, when the client responds » no » to all questions. This is the case for products issue whole life simplified without the participation initiated in the beginning of the year, which will enable the purchase instantly from 10 000 $ to 100 000 $ insurance : whole Life without participation for children and whole Life non-participating adult.
He wished to clarify that simplified does not mean that the product is intended for those who are difficult to insure. «The issue simplified is a product regular healthy person. This product is not guaranteed issue. The issue is simply faster. When the insured qualifies, the policy is issued with the same coverage quality as a product of full subscription. The insured will pay, however, is a bit more expensive, because it does not have to go through all the pricing. The speed is a choice to make, » explained Mr. Rguigue.
PPC sees the future in the program simplified
Foresters also ensures that the risk of a number of products designed and distributed by Canada protection Plan (CPP). Its director of sales, Michael Aziz, said that he was satisfied that the issue simplified is the future.
«With the issuance simplified, the insured jumps electrocardiograms and blood tests, or urine. If it passes through a series of medical questions, it is a risk for regular. It is very likely that his contract could be issued as requested in emissions-simplified, but for a traditional product, » he said.
Choose the traditional way in PPC, for example, can an insured qualified for $ 500,000 of insurance to issue simplified to obtain$ 1 Million insurance to full pricing. «With only a paramedical exam, he can get his police in a little over a week. It is fast for a$ 1 Million insurance, » said Mr. Aziz.
The higher price of the fonts to show simplified will continue to be a concern for some, » he says. But the possibility for someone who has already had cancer to get a coverage of $ 500,000 is an offer généreusel.
«It’s not as if he had a surcharge of 400 %. This may be approximately 150 % of the premium regular. It depends on the segment that belongs to the insured, such as age. «
The products at issue simplified is experiencing a nice growth in PPC, said Mr Aziz. «People do not always have the time to go and see their doctor. Our advisors tell us that their customers are willing to pay more to get their coverage right away. They are looking for the practical side. «
The market of the entrepreneurs too have the products at issue simplified. «Many SMES want to write policies to finance an agreement of repurchase of units between partners of different ages. It may be, for example, an older man who works too hard and has already had a heart attack in a period prior to the last three years. We can accept it by issuing simplified, up to $ 500,000, » quipped Mr. Aziz.