UnderwriteMe wins Protection Review Innovation Award for Decision Studio package

December 11, 2023

UnderwriteMe wins Protection Review Innovation Award for Decision Studio package

By Phil Nash, Director of Sales, UnderwriteMe

We’re delighted to announce that UnderwriteMe won Protection Review’s Innovation Award at the lavish Awards ceremony held at The Landmark Hotel in London on the 6th December 2023.

We sent in our entry back in September which told the story of how we developed our Decision Studio system and the impact since launch. At the awards dinner, James Tait, Phil Nash, Nilesh Patel, and John Revill listened as judge Peter Le Beau displayed the shortlist and announced a Highly Commended for CIEpxert. There was a nervous moment of silence as Alister Gerrard from Gen Re opened the winner’s gold envelope. “And the winner is…UnderwriteMe.” Then the room became very noisy to the sound of cheers and applause.

James went on stage to receive the Trophy and after that, the champagne flowed.

We launched Decision Studio in July 2022.

In July 2022 and saw live applications processed through Decision Studio by HSBC using medical screening data from Square Health.  Currently, around 190,000 UK applicants need medical screenings. Decision Studio speeds up underwriting decisions, cutting down waiting times for clients and reducing the time advisers spend on follow-ups. Advisers can easily refer applicants for automated screenings, receiving immediate notifications for evidence requirements. We process information promptly, with decisions for 75% of customers instantly, while the remaining 25% undergo manually. UnderwriteMe is the only provider to offer this solution to the market. The launch of the Decision Studio has allowed us to lead the way in moving the insurance industry forward through its use of data.

The Protection Review judges said, “Innovation can be a new product, a new service, or a better way of doing something. Over the last few years we’ve increasingly seen service and process innovation become more pronounced than product innovation. Our winner has a bit of a reputation for innovation and this year has further developed its offering and is a genuine attempt to move the market forward. Decision Studio helps get to underwriting decisions quicker including a 75% reduction in underwriting time. This is a significant step forward to improve the customer and adviser experience”.

This Innovation Award is a testament to all the hard work everyone has put in across the business. Thank you for everyone’s support. We look forward to continuing to make a difference in the industry as we move into 2024!