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OnePath has updated more than 600 trauma definitions across 60 trauma products, as well as some cover definition names, in a bid to take the customer-centric mindset of the Life Insurance Code of Practice.
The trauma definition updates, which will be applicable for any new events from Dec. 01, 2018, comes after a review of more than 25,000 trauma policies dating back to 1988.
“From the outset, we wanted to ensure our policyholders benefited from improving definitions where applicable,” said Gerard Kerr, Zurich’s head of OnePath proposition and group life. “At the same time, we recognised older policies may have definitions with broader coverage than present day.”
The project started in 2018 and sourced information from OnePath’s claims technical team as well as the expertise of chief medical officers, reinsurers, and actuaries.
“We want to provide our customers with high standards of service, a benchmark of consistency within the industry, and a framework for professional behaviour and responsibilities. This project delivers on all three,” Kerr said.
