News

Insurance applications made easy

An IOOF Special Announcement

This month we were pleased to announce the launch of Insurance Online – new technology that makes insurance applications quick and simple.

With Insurance Online you can:

  • Submit insurance applications with a few clicks of your mouse
  • Get an immediate underwriting response
  • Track the progress of your applications with live updates during the underwriting process.

And it’s all done through a smooth, user-friendly system.

We believe Insurance Online will save you time and significantly reduce the ‘hassle-factor’ of insurance applications.

Applications go straight to the underwriter

IOOF has joined forces with TOWER to deliver this market-leading system.

TOWER strives to be at the leading edge of the use of technology in insurance, and delivers a range of innovative solutions through their online insurance system: UWPlus.

UWPlus is a web based underwriting system that allows applications to be submitted and tracked online. It uses ‘straight through processing’ to provide an automatic underwriting decision wherever possible.

UWPlus Straight Through Processing has eliminated the drawn out process of paper applications, significantly reducing the time required to obtain insurance cover.

No more slow, laborious paper-based applications

You can assist the client to complete the insurance application online and the underwriting engine will generate an immediate response – either “accepted” or “referred to underwriting”.

Tower aims to provide 85% of underwriting decisions within three working days for clients aged 45 and under.

Keep track of applications with ease

UWPlus also provides access to live updates for underwriting applications and requirements. Applications can be tracked from receipt through to completion.

In addition, UWPlus provides on-demand underwriting reports which you can use to track performance and case statistics.

Getting started

You need to activate your account in order to start using UWPlus. To do this, follow these steps:

Step 1: Log in to Portfolio Online.

Step 2: Click on the ‘Insurance Online’ link. This link is located on the right-hand side of the page below the banner.

Step 3: You will now be on the Insurance Online log-in page. Click on the link: “Click here to request activation” (below the log-in fields).

Step 4: Once your account has been activated you will receive an email with log-in instructions.

Two important resources

(1) Click the link below to open a handy quick reference guide for Insurance Online. This guide contains all the key differences between Insurance Online and the old paper-based system (plus the steps in the application process, the types of insurance you can apply for, helpful hints and contact details)

We strongly recommend you read this guide before using the system for the first time:

Insurance Online Quick Reference Guide

(2) Click the link below to open a detailed procedures manual for the UWPlus System. This gives you in-depth instructions for all aspects of the new functionality.

UWPlus Procedures Manual

If you have any questions about getting started please contact IOOF Adviser Services on 1800 659 634.

Insurance cover obtained via the Insurance Online / UWPlus systems is provided by TOWER Australia Limited (TOWER) ABN 70 050 109 450, AFS Licence No 237848. TOWER is a member of TOWER Australia Group Limited, a publicly listed specialist Australian life insurance company.