At NEOS, we’re committed to continually improving the underwriting experience for advisers and their clients. We’ve recently delivered a range of underwriting enhancements across NEOS Protection designed to increase Straight Through Acceptance (STA), reduce medical evidence requirements and deliver faster outcomes.

These improvements are already making a meaningful difference. Over the past six months;

  • Doctor report rates have fallen from 30% to 21%.
  • OneTouch underwriting outcomes have increased from 38% to 46%, helping more clients receive decisions sooner.
  • Fewer than one in ten NEOS Protection customers now require mandatory medical examinations.
  • We’ve seen an 80% reduction in doctors’ reports for ADHD.

Key enhancements

ADHD

Recent changes have significantly improved outcomes for clients with ADHD, delivering:

  • 40% increase in STA rates
  • 80% reduction in doctor report requirements
  • 40% increase in OneTouch Underwriting acceptances

Breast Lumps

Assessment criteria have been refined to better reflect risk outcomes, resulting in:

  • STA rates increasing from 51% to 70%
  • Significant reductions in underwriting requirements 

Iron Deficiency Anaemia

We have simplified our assessment approach for iron deficiency anaemia, recognising that historically more than 92% of referred cases were ultimately accepted at standard rates.

Key benefits include:

  • Simpler assessment pathways
  • Reduced evidence requirements
  • Faster underwriting outcomes

Bowel Polyps

Changes to underwriting criteria have delivered:

  • 37% increase in standard acceptances
  • Only around 13% of cases now requiring further underwriting review

Type 2 Diabetes

Enhancements have improved outcomes for clients managing Type 2 Diabetes, including:

  • 33% increase in STA rates for Life Cover
  • 45% reduction in medical reports where pathology results can be utilised instead 

Weight Loss Medications (Ozempic, Wegovy and Similar Treatments)

As the use of weight loss medications has become more common, we have refined our underwriting approach to better reflect current treatment outcomes.

The results include:

  • 90% increase in STA rates
  • 90% increase in OneTouch rates for the remainder which refer to underwriting
  • Doctor report requirements reduced to virtually nil

Delivering better outcomes for advisers and clients

These enhancements reflect our ongoing commitment to making life insurance easier to access by reducing friction in the application process and increasing the number of clients who can receive immediate or near-immediate underwriting decisions.

By simplifying assessments, reducing medical evidence requirements and increasing acceptance rates across a range of common health conditions, NEOS continues to invest in a faster, more adviser-friendly underwriting experience.

As we continue to evolve our underwriting philosophy and processes, advisers can expect further initiatives aimed at improving efficiency, reducing turnaround times and helping more Australians secure the protection they need sooner.