How Accelerated Underwriting is Being Leveraged Across Canada - Insurance-Canada.ca

By Alysha D'Souza, Finaeo – The global insurance industry has been overturned by the COVID-19 pandemic, and insurers have been racing to mobilize solutions as fast as possible to minimize the disruption.Several in-person medical services are being suspended across Canada to reduce the spread of the virus and prevent overloading the system – including paramedical services that are often required to complete life and health applications.Carriers are looking for ways to increase coverage for products that offer “accelerated underwriting” – in other words, products that do not have paramedical or laboratory testing requirements.

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