Source: Manulife Financial
Manulife Financial is launching the Canadian insurance industry's first New Business Notification feed that meets new national standards for delivery of information to agencies and their advisors dealing with the company.
The feed, once processed, allows agencies and their advisors to view the underwriting status of policies on a daily basis, greatly reducing time spent on inquiries and follow up calls about their clients' applications. The process is the first to meet new guidelines outlined by the Canadian Life Insurance Electronic Data Interchange Standards (CLIEDIS).
"This is a significant advance in service to our Managing General Agencies and National Accounts. These organizations are focusing on improved technologies to increase their office and business efficiency so they can spend more time working with clients," said Andy White, AVP, Distribution Systems, Manulife Financial.
New Business Notification feeds provided through this new standard contain current advisor, policy and underwriting status of new business pending policies, based on the Canadian Insurance Transaction Standardization (CITS) Pending Case Status Implementation Guide from CLIEDIS.
A distributor's feed will be available for download to its back office system through a phased launch on Manulife's advisor website.