Media releases

Asteron sets new benchmark in straight-through processing


Advisers can spend more time doing what they do best - servicing clients and building their businesses - as a result of new features added to Asteron’s electronic underwriting solution, Lifeguard EQ.

Lifeguard EQ’s new features include:

  • The functionality to allow advisers to modify client details
    • A new ‘recalculation engine’ allows advisers to modify quote details (such as level of cover) during the EQ underwriting process, without having to start again.
  • Instant confirmation of cover
    • ‘Acknowledgement of receipt’ documents can be provided to clients on the spot.
  • Improved ‘insurance history’ underwriting capability
    • Greater capability to make automatic underwriting decisions for clients with existing cover.

“With these new features, Lifeguard EQ has set a new industry benchmark for online underwriting and application solutions,” Asteron head of Life Risk John Crosswell said.

“There is a lot of noise in the market about electronic solutions,” John said, “but Lifeguard EQ features a market-leading combination of true straight-through processing, comprehensive product coverage and greater adviser functionality.

This means an instant underwriting decision and immediate confirmation of a new policy number can be delivered in many cases. When more information is required, the application is instantly sent directly to the inbox of an adviser’s dedicated underwriter, potentially reducing the total turnaround time by more than 48 hours.

“Responsiveness of this kind is good for the customer, and great for the adviser,” John said. “Having a decision so quickly means that customers have the peace of mind that they are covered and advisers can dramatically reduce the amount of time they spend processing paperwork”.

For more information, or to interview John Crosswell, please contact Sarah Hegarty on (02) 8275 3811 or 0410 652 517.

Asteron is part of the Suncorp Group

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Asteron Life™ is committed to providing customers with long term financial security. We provide life insurance products including Income Protection Covers, Trauma Cover, Total & Permanent Disablement (TPD) Cover, Life Cover and Business Expenses Cover. To obtain a copy of our privacy statement, please contact us on 1800 221 727 or visit the following website www.asteronlife.com.au/privacy to view or download the policy.