The availability of critical illness cover will be expanded to type 2 diabetic customers without the need for NHS records, HSBC Life (UK) has announced.
The new innovation will allow customers to obtain critical illness cover by attending an independent nurse medical screening, the results of which will be assessed digitally in a three-day turnaround time.
HSBC Life has said that it is able to offer this extension to diabetics due to its enhanced digital underwriting process and is applicable to those customers applying for cover through external adviser distribution partners.
Enhanced digital underwriting enables medical screening requests to be sent and received back automatically from HSBC Life's medical screening provider Square Health.
It further detailed that the digital underwriting engine instantly provides an eligibility decision and then provides real time updates on the progress of the screening, preventing advisers and customers from spending time chasing results.
HSBC Life has developed a specially designed test with its partner, Square Health, whereby nurses discuss with applicants their diabetic history, check the foot pulse, and take a blood test which will process will give “certainty” to the customer of their disclosure,
This certainly will be supplied by providing the opportunity for customers to discuss their diabetic history with a medical professional, thereby taking away the onus from the adviser.
Currently, the availability of critical illness cover for diabetics is, according to HSBC Life, "sporadic" across the UK protection industry with many insurers unable to consider diabetics despite 4.3mn people living with the condition, according to data collected by Diabetes UK.
Jen Carhart, head of underwriting and claims at HSBC Life, said: “We are really proud to have worked with our partners, UnderwriteMe and Square Health to introduce this unique approach and open up such a vital protection product for a group of customers historically excluded by the industry from critical illness."
Carhart also stated that, realising the expansion without placing further burden on the NHS and continuing to build on digital innovation is a "testament" to how the world of underwriting is evolving to support customers and their needs.
Successful applicants will also benefit from the expansion of HSBC Life's value added benefits proposition, which includes prescription services, second medical opinions, and unlimited remote GP appointments.
tom.dunstan@ft.com
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