Long Term Care Insurance New Business Processing Update
Over the last few months, we have been working through a challenging time. We have made your job more difficult and for that we are sorry. During this time, we have worked through an unprecedented volume of applications, infrastructure issues and a learning curve with our new underwriting processes.
We are pleased to say these issues are behind us and that our service levels are now consistently meeting the levels you expect from our organization.
What you can expect now and in the future
- New applications to be processed with minimal delay – occasionally issues will arise as might be expected in any high‐volume environment and with any system and complex process. Having said that, we will continue to address issues and their underlying causes.
- Processing queues will remain within a 24 – 48 hour turnaround time.
- Our “steady state” overall cycle time to be approximately 50 days, longer than our pre‐April 15 steady state cycle time of around 40 days due to a longer cycle for gathering the new underwriting requirements and the desire to hold joint cases until both lives have been decisioned. We recognize this cycle time shift is meaningful and are hard at work identifying ways to remove work and shorten cycle time.
Because we are now back to a normal processing flow, we will be suspending the weekly update to you. We appreciate your patience and support and look forward to providing you with exceptional service again.