The campaign for ‘wet signatures is gaining ground after a new study has found that more than a quarter of online applicants that apply for critical illness protection cover will change their details if sent a hard copy.
According to statistics from Bright Grey, in the last 12 months when applicants were sent a copy to check their details, 27 per cent made "material changes" to details they had entered online. In an industry-wide bid to cut non disclosure rates, the statistic emphasises the potential significance of wet signatures says Bright Grey.
John Deane, chief executive of the intermediary division of Royal London, says: "Without the signatured process, these clients could have run the risk of their policy being declined due to non disclosure."
The signatured process provides a sturdy mechanism to protect both clients and their advisers by helping to make certain that online applications are completed accurately noted Mr Deane.
Campaign for wet signatures gathering momentum
Financial Services > Income lnsurance > News
Campaign for wet signatures gathering momentum
Mon, 21 Apr 2008
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