Term Life Insurance, No-Medical Life Insurance Company CompassQuote Dramatically Reduces Underwriting Time
CompassQuote -- which offers online term life insurance and no-medical life insurance -- has recently made improvements to cut the time required for underwriting services.
Phoenix, AZ (PRWEB) October 28, 2009 -- CompassQuote -- which offers term life insurance and no-medical life insurance -- has recently improved its underwriting service turnaround time with new time-saving measures, said company CEO Brian Greenberg.
Meeting with local life insurance agents can be very stressful
He said the company has reduced the average underwriting time down to 28 days. Across the industry, the average time to underwrite a customer ranges from four to eight weeks. The quick turnaround is due in large part to the company's direct correspondence with customers, Greenberg said.
"As soon as an insurance carrier requests records such as an attending physicians statement or other medical documents for a customer, CompassQuote corresponds directly with the customer to get the ball rolling," Greenberg said.
He said consumers can register on the CompassQuote Web site and fill out a short, two-page form with personal information required for insurance carrier requests -- enough to fill out 90 percent of the insurance application.
The form is then sent direct to the consumer for their records. By pre-filling this form out, the process of mailing paperwork back and forth between life insurance, doctors and consumers is cut to a few minutes. Other insurance companies ask customers questions, and then call them -- and it takes 30-plus minutes to fill out the form, delaying the process, Greenberg said.
"CompassQuote is the speedster in the industry," Greenberg said.
CompassQuote also has a very refined online process so customers can track their progress in real time. The second a policy is approved, the customer receives an e-mail and phone call confirmation.
"With CompassQuote, our customers still get personal attention," said Greenberg. "While some may argue that there is no substitute for a live human being who can interact with you on a personal level, online insurance brokerages offer unparalleled savings and the ability to talk to a human being, anytime. Additionally, they can offer knowledgeable agents with experience finding the right policy relating to all kinds of personal situations that you may not find in a traditional brokerage simply due to geography."
About CompassQuote.com
CompassQuote is an independent life insurance broker representing a number of the top insurance companies in the country. No longer are customers stuck in front of the local insurance agent whom can only quote rates from one insurance company. For more information, log on to www.compassquote.com.
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