Legal & General (L&G) has seen the number of submissions received for its Relevant Life Plan (RLP), increase over 43% in June 2015 compared to June 2014.
The proportion of applications submitted online for the RLP reached 95% three weeks after the e-submission service launched in January 2015.
The RLP was the last of L&G's business propositions to go digital, completed their Business Protection e-submission programme.
The service launched in January 2015, and by the last week of June 2015 97% of applications were submitted online.
Richard Kateley, head of specialist protection at Legal & General Insurance said: "There is clearly a demand for online application facilities, and we're pleased to have been able to provide an e-submission service to help financial advisers submit applications through a medium that suits them best.
"These figures are a real endorsement of the work we are doing at Legal & General to promote all aspects of Business Protection.
"Although RLP is not a true business protection product, it is probably the best way to start talking to business owners about protecting their business.
"In our recent research into business protection we highlighted that only 28% had heard of RLP but of these, over half had taken one out.
"That is an impressive take up rate."
Kateley said: "These figures combined with the startling statistic , showing that 89% of all businesses that had any form of business protection did so because they were advised to take it out, demonstrates that this business is not going to walk through advisers' doors.
"It is very much a proactive market and we need to go out and talk to business owners about the risks they and their businesses are running.
"It is our hope that making the application for RLP an easier process through our e-submission service, alongside providing advisers with strong research which will help drive conversations in this area, will result in a greater number of businesses becoming assured in 2015."
Further Reading:
Second opinion on protection policies from L&G
