L&G Early Warning System leads to payments of £23.4m in 2015

clock

Legal & General's (L&G) Early Warning System has led to pay outs of £23.4m in 2015 so far, with £125.3m of pay outs since it began in 2010.

The Early Warning System lets advisers know when policies are cancelled and lapsed, so they can then contact clients to ensure they are aware.

Andy Clark, head of commercial management & distribution quality, at Legal & General, said: "These figures are testament to our efforts in supporting advisors to not only generate new business, but also retain existing clients.

"Helping advisers to develop and monitor the quality of business processes feeds in to the level of customer service brokers can offer, which in turn improves client retention.

"Ensuring that policyholders are kept up-to-date, particularly with developments concerning the validity of their cover, is a large part of an advisor's job, and we're pleased to be able to help with this integral process."

Further reading:

L&G payout over £400,000 on children's CI for leukaemia

Why retention is as important as the initial sale

Mixed protection results for L&G

 

More on Adviser / Broking

Consumer Duty Alliance looks to attract advice industry talent

Consumer Duty Alliance looks to attract advice industry talent

Reshaping talent acquisition and development within financial services

Isabel Baxter
clock 27 March 2024 • 2 min read
FCA releases guidance for social media ads

FCA releases guidance for social media ads

Warnings to firms and ‘finfluencers’

Cameron Roberts
clock 26 March 2024 • 1 min read
COVER Summit North: Gallery

COVER Summit North: Gallery

Event debuted in Warrington

COVER
clock 22 March 2024 • 1 min read

Highlights

COVER Survey: Advisers damning of protection insurer service levels

COVER Survey: Advisers damning of protection insurer service levels

"It takes longer than ever to get underwriting terms"

John Brazier
clock 12 October 2023 • 5 min read
Online reviews trump price for young people selecting life and health cover

Online reviews trump price for young people selecting life and health cover

According to latest ReMark report

John Brazier
clock 11 October 2023 • 2 min read
ABI members with staff neurodiversity policy nearly doubles

ABI members with staff neurodiversity policy nearly doubles

Women within executive teams have grown to 32%

Jaskeet Briah
clock 10 October 2023 • 3 min read