Life Insurance
Group Risk :: Key Factors
TOWER’s Group Risk products and services provide simple solutions to make doing business easier for you. Our offering is based around 4 key factors:
1. Market Leading Technology
2. Flexible Automatic Acceptance Levels
3. Industry Benchmark Service Standards
4. Group Risk Insurance Expertise
3. Industry Benchmark Service Standards
TOWER understands that the tangible advantage of technology and product must be matched by the right attitude and commitment to service.
| Service | Standard (Business Days) |
|---|---|
| Annual review | 30 days |
| Installation review | 20 days |
| Claim Assessment (no outstanding information) | 5 days |
| Commission paid on premiums received | fortnightly |
| Continuation Option forms issued | 24 hours |
| General telephone enquiries | 24 hours |
| New business (including sub plan) installation | 30 days |
| New business quotes depending on complexity | 5-10 days |
| New business quotes for Industry Funds and Masterfunds | 15 days |
| New business quotes for less than 500 members | 3 days |
| Underwriting completion (no outstanding medical information) | 5 days |
To further assist your business efficiency, TOWER can provide an Underwriting Report detailing outstanding business and highlighting follow-up requests. General underwriting follow-ups are also provided on a monthly basis.
