1. Why aren’t more of my younger healthier applicants getting instant offers?
A: Tough question. Most often, applicant answers don’t align to the data gathered by 3rd party sources (prescriptions, driving, prior insurance applications, medical claims data, Quest lab data, MIB). Remember too – we are currently at ages 18-59 up to $1M.
2. Is there a plan to move up ages and face amounts to qualify for offers without medical exams?
A: We increased to age 59 in October, 2019 to stay aligned with traditional. Risk audits permitting, we plan to move to larger face amounts (e.g. $2 or $3 million) down the line.
3. Do I need to apply for Ultra (best class) for the algorithm to award best class?
A: Absolutely not. Both the algorithm and the manual underwriters do not see the applied for risk rating. Digital UW on Coverpath will give “THE” best offer [first] agnostic to applied for rating.
4. When I don’t receive an accelerated offer, who do I call to better understand why?
A: In most cases, you will now see underwriting decision reasoning within your Account Center. For more information on how to do this, click here. For further questions, your best bet is the Coverpath Support team 1-866-957-5347. Not that our underwriters don’t want to help, yet the case won’t be visible to the underwriters until labs are received.
5. Speaking of Underwriters, I am used to knowing who the underwriter is as soon as the application is eSigned, who is my Underwriter in Coverpath?
A: We don’t assign an underwriter to your case until medical exams and labs arrive (if you have questions prior to this, see #4 above for support contact info).
Having said that, you can contact us via the following:
- Digital Underwriting: firstname.lastname@example.org
6. When the case requires a medical exam and the offer is other than applied for, why don’t I get an alert 24 hours ahead of the Insured so I can explain why the gap to field underwriting?
A: Our e-delivery is fast, digital and cost effective so we (in the future) can pass these savings to you and our customers with better price. Having said that, we understand that communicating less than best class offers can include discussion of sensitive medical and financial information. Until we build a digital solution, when the offer is other than applied for, Will Steppe and Kajuana Lee will DELAY the offer and reach out to you and/or your delegate (office manager, NB coordinator). We ask for a 24 hour turnaround time if possible.
7. My business model empowers me or my delegate to schedule, book and monitor medical exam and lab appointments. Why isn't this offered in Coverpath?
A: We understand that your customers are busy and you can help close the wait time with medical exams. ExamOne portals are generally not available to financial professionals, however, we'll explore adding this functionality in through 2020. This will allow easier exam scheduling. Until then, you can review the medical exam process and options here.
8. Can I use the Platinum Pass program on Coverpath?
A: We currently offer the term platinum pass program through Coverpath. For more information on Term Platinum Pass business through Coverpath, click here.
9. Does Coverpath follow the same medical and financial guidelines as EZ app?
A: Yes! Coverpath uses the same medical and financial underwriting manuals including the M3S (MassMutual Mortality Score), COVID-19 handling, and the same Medical Department.
10. How does Coverpath differ from EZ app when obtaining additional information from the client?
A: On EZ app the underwriter sends follow-up questions to a phone interview team. The interview team then reaches out to the customer via a recorded phone interview to obtain additional follow-up questions. The agent is not given a list of questions and the client answers are confidential.
On Coverpath the underwriter can reach out to the customer directly to ask follow-up questions as needed. Only the customer is able to respond via secure email. This interaction reduces hand offs, and customers often respond in minutes or hours! An underwriter may have to go back to the client a second time for additional questions depending on the nature of the response. Consistent with the phone interview process, the agent is not given a list of questions and the client answers are confidential.
In both EZ app and Coverpath the FR2200 voluntary authorization form can be used to obtain additional details about underwiring information that was not disclosed on the application. Please keep in mind that even with this form sensitive histories (psychiatric, substance abuse, etc.) that the client has not admitted will be kept confidential to protect the client’s privacy.