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

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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

 

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