Life insurance customers in Australia could see reduced wait times for application decisions as Acenda implements a new digital system for medical data collection, improving the clarity and speed of the underwriting process through a partnership with EQ Pathology.
Acenda, which has operated for over 130 years and recently rebranded from MLC Life Insurance, has introduced a digital platform that replaces the traditional submission of medical information via PDF forms with smart, structured questionnaires.
This approach enables doctors to provide complete and clear medical data directly, streamlining the flow of information to insurers and advisers.
Underwriting often requires additional medical details to complete applications, a process that typically involves manual intervention and can lead to delays. The new automated system aims to reduce these bottlenecks and accelerate decisions when further medical information is requested.
Gerard Kerr, chief executive of individual business at Acenda, said the company is the first Australian life insurer to offer this digitised process.
“It is part of our focus to transform underwriting and to innovate how our underwriters get precisely the information they need the first time without the back and forth that can delay applications,” he said.
Kerr added that doctors no longer need to download or print PDF forms. Advisers can deliver faster decisions to clients while maintaining privacy protections.
For EQ Pathology CEO Stephen Clarkson, partnership illustrates how technology can address practical challenges in life insurance applications. He said the use of structured data eliminates traditional delays in underwriting, benefiting clients, advisers, and medical professionals.
Acenda is part of the Nippon Life Group, a global life insurance and asset management organisation established in 1889. Nippon Life serves around 15 million customers worldwide.
What effect do you expect this digital change to have on underwriting speed and client satisfaction? Please share your perspective in the comments.
