Specialty Life Insurance (SLi) is a very unique life insurance company that is completely focused on one demographic – those that have trouble getting traditionally underwritten coverage. To help everyone get the coverage they need, SLi specializes in No Medical life insurance.
Evolution is a new product created by SLi. Evolution helps Canadians get instant insurance access via a proprietary online platform. Without the need for a medical exam, Evolution is your key to getting coverage – fast!
“Specialty Life Evolution 1.0 (T10, 20 & 30) launched on September 29, 2020,” says Eugene Shafronsky, VP of Sales, Distribution & Product Development. “SLi will launch Evolution 2.0, adding new T100 to our existing Evolution series. Ages covered are: 18 – 70 for T10, 18 – 50 for T20, 18 – 40 for T30 and 18 – 80 for T100. Depending on risk class, maximum face amounts are as follows: up to $1,000,000 for issue ages of 18 – 50, up to $500,000 for issue ages of 51 – 70 and up to $250,000 for issue ages 71 – 80.”
SLi Evolution is powered by a real-time virtual underwriter called Jenie, which requires no medicals and offers some of the most advanced and user-friendly features available. Jenie, short for Jet Evolution No Med Intelligent Engine, is the first of its kind, a real-time virtual underwriter that uses the most current underwriting guidelines and incorporates advanced medical knowledge without being held back by bad moods or an ego. Jenie is here for you 24/7.
Jenie will automatically select the most suitable and tailored intuitive underwriting sequence for every applicant and provide an instant decision upon completion without any additional requirements.
Jenie’s unique logic flow allows it to assess an applicant more accurately than any other no medical questionnaire, asking a combination of behavioural and detailed, specific condition related questions. This approach allows for more precise underwriting evaluation and, compared to other current static, no medical applications and systems, virtually eliminates any possible issues at the time of claim.
Along with Jenie, SLi offers some of the most advanced application and process tools with even more features, including a unique variety of non-face-to-face (NFTF with no signature required) and additional signature options (via SMS or email) with the ability to combine multiple plans within one application. All are processed in only one business day.
SLi’s new Jenie™ assist is a one-of-a-kind tool that allows advisors to generate a quote not just on date of birth, gender, and smoking status, but also on relevant medical conditions.
In a matter of minutes, an advisor can have an exact quote, matching the risk with no surprises during final parts of the application process. Jenie™ assist is a direct extension of Jenie™ and only available to advisors contracted with SLi.
Jenie™ was an idea that was developed with one of the leading reinsurance companies in the global arena. Jenie™ is a result of a collaboration and partnership among some of the brightest underwriting and medical minds, and state-of-the-art AI technology.
Since the launch in September, 95% of applicants qualified for plans that provide coverage from day one (not deferred). As per feedback, both advisors and applicants enjoy the fact that Jenie™ can read the questions, which make all parties feel very comfortable and safe about the insurance policy.
There is a forward-looking plan to launch more products on Jenie’s platform in 2021 and continue the trend of becoming one of the most advanced forward-thinking and modern insurance providers in Canada.
Eugene Shafronsky is the Vice President of Sales, Distribution and Product Development at Specialty Life. Eugene is an outside-the-box-thinker and an industry thought leader. Specialty Life is an innovator in the world of personal insurance. Their philosophy is to provide real and meaningful financial protection to Canadian Families through their suite of simplified products.
