UnderwriteMe has added additional questions to its protection platform to reflect the growing use of weight loss treatments..
The firm revealed this followed collaboration with insurer partners and it will allow insurers to apply decisions in line with their underwriting risk appetite.
The additional questions focus on the type of weight loss treatment that has been prescribed by a medical professional, how long it has been used for, and what the impact has been.
UnderwriteMe said the questions aimed to help capture all the necessary information for insurers to make informed and accurate decisions for individuals seeking cover, and, where possible, offer buy-now decisions.
Seven insurers are offering buy-now decisions subject to the answers provided.
The update follows a rise in usage of weight loss treatment including Ozempic and Mounjaro, with 2.5 million people in the UK now estimated to be using them for weight loss purposes.
So far UndwriteMe’s protection platform has seen 739 applicants disclose taking medical treatment to lose weight.
Nilesh Patel, chief revenue and customer officer at UnderwriteMe, said after speaking to insurer partners there was a collective agreement to expand the questions so insurers could continue to innovate and evolve their underwriting philosophies in that area.
The firm expects other sourcing systems to follow by introducing similar questions.
