• Home
  • COVID-19
  • Life
  • Critical illness
  • Income protection
  • Health
  • Employee benefits
  • Regulation
  • Diversity
  • Mental health
  • Events
  • Industry Voice
  • EBooks
  • Access to insurance
  • Newsletters
  • Sign in
  •  
    •  

      Personalise your on site experience.


      Download and use the apps.


      Access your subscription from outside of the office.


      Get relevant news and insight straight to your inbox.

      • Sign in
     
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • Twitter
    • LinkedIn
    • Newsletters
    • YouTube
    • Instagram
  • Register
  • Events
    • Upcoming events
      event logo
      Claims and Underwriting Innovation Forum 2021

      COVER Claims and Underwriting Innovation Forum will investigate the most innovative claims and underwriting practices driving the protection and health insurance market forward. It bears repeating; at the heart of every policy is a human being. As technologies advance and digital capabilities expand, it is crucial that the needs of the customer do not get lost along the way. A personal touch must remain at the centre of every interaction an individual has with an insurance company, either directly or through an intermediary. Hence, this journey is about evolution not revolution.28th April, Digital Conference

      • Date: 28 Apr 2021
      • Virtual Conference, Digital Conference
      event logo
      Access to Insurance Webinar: Write it, refer it… don’t ignore it

      Access to insurance has been one of the protection industry’s primary focus points since BIBA introduced the agreement to help make protection insurance more widely available in January last year. While much good work has been done to further the cause, there is still a long way to go before signposting can be considered as a common practise. This webinar, in partnership with Royal London and featuring a cross-section of expert speakers, will examine some of the key elements of protection insurance signposting, including the role of communication between insurers and intermediaries, how industry participants can access the right information to signpost effectively, and the growing recognition of mental health challenges for access to insurance.

      • Date: 05 May 2021
      event logo
      Health Insurance Live 2021

      The COVER Health Insurance Live event will examine how the health insurance industry is mobilising for change both during the pandemic and beyond: How have health insurers responded the many challenges brought about by the Covid-19 crisis and what’s next for the market? What opportunities are out there for healthcare intermediaries and how can they make the most out of rising private medical insurance (PMI) demand? As part of this fully interactive digital conference experience, we will also be introducing the Recognising Healthcare Innovation Awards, a new set of awards to commemorate the leading players of the health insurance sector.

      • Date: 30 Jun 2021
      • Digital Conference, Digital Conference
      event logo
      COVER Recognising Healthcare Innovation Awards 2021

      COVER is pleased to announce the launch of its first ever healthcare awards. The Recognising Healthcare Innovation Awards celebrate the best the health insurance industry has to offer across personal achievements, new propositions and campaigns, and innovative approaches to healthcare during the ongoing pandemic. Presented in conjunction with the inaugural COVER Health Insurance Live event, the six award categories are now open for submissions and will be reviewed by a panel of industry expert judges, with the winners announced during an online ceremony at the end of the conference.

      • Date: 30 Jun 2021
      • Digital Awards, Digital Awards
      View all events
      Follow our events

      Sign up to receive email alerts about our events

      Sign up

  • Industry Voice
  • EBooks
  • Access to insurance
Cover Magazine
Cover Magazine
  • Home
  • COVID-19
  • Life
  • Critical illness
  • Income protection
  • Health
  • Employee benefits
  • Regulation
  • Diversity
  • Mental health
 
  •  

    Personalise your on site experience.


    Download and use the apps.


    Access your subscription from outside of the office.


    Get relevant news and insight straight to your inbox.

    • Sign in
 
    • Account details
    • Contact support
    • Sign out
 
  • Regulation

Action needed to mitigate 'fraudulent' lead generation

‘Protecting the Protectors’ paper warns

'Disreputable lead generation activity is driving clawback rates and increasing industry bad debt'
'Disreputable lead generation activity is driving clawback rates and increasing industry bad debt'
  • Adam Saville
  • Adam Saville
  • @AdSaville_COVER
  • 18 June 2020
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
0 Comments

LifeSearch and Contact State release report on how to mitigate rogue online lead generation

Large intermediaries and insurer partners are at ‘serious' risk of being investigated by the Advertising Standards Authority (ASA) and the Information Commissioner's Office (ICO), a new paper has revealed.

According to the ‘Protecting the Protectors' report, published by LifeSearch and Contact State, some life insurance firms are using fraudulent short-term tactics amid misleading advertising, the reselling of consumer data and impersonation of insurance brands.

Related articles

  • Covid vaccine boosts employee optimism about returning to work
  • Canada Life names Lindsey Rix UK chief executive
  • Willis Tower Watson rolls out new underwriting solution
  • Jeff Woods appointed as L&G head of intermediary development

The report also states that: "Disreputable lead generation activity is driving clawback rates and increasing industry bad debt."

As well as laying out ASA advertising standards and FCA stipulations, the paper shines a light on the practices being used by ‘rogue' online lead generators, while exploring how the life insurance industry can mitigate, control and stamp it out by setting a transparent universal standard of "data exchange and certification".

The report states: "The answer is not to stifle innovation or take a heavy handed regulatory approach. Instead, we believe that the industry should create a ‘gold standard' of lead generation and reward those affiliates, intermediaries and insurers who create better outcomes for the consumer.

"To do this we believe that every single life Insurance lead should have an accompanying certificate created at the source and start of the customer journey by an independent technology business. That certificate will certify the authenticity of the data, the advertising used and the veracity of the compliance information."

‘Mission'

LifeSearch CEO Tom Baigrie said: "We are pleased to co-author this paper, which we hope begins to address many of the poor, and often fraudulent, practices being used to generate leads in the protection market. The result is often consumer detriment, which is potentially damaging for all parties across the industry in the long term."

Alain Desmier, managing director of Contact State, added: "Our unambiguous mission is to remove fraudulent lead generators from the protection industry. We're very proud to stand alongside LifeSearch and make recommendations in this paper that we believe will lead to much better customer outcomes."

Oliver Rayner of Caspian Insurance Services described the issue as an "urgent" one that "needs to be addressed".

"I have a particular concern with the type of misleading and fraudulent adverts that are being widely used to generate consumer interest in protection products," he said. "Caspian Insurance was the first life insurance intermediary to use Contact State and I am very supportive of the recommendations within this paper."

Read the full report here. 

Further reading

'Rogue' lead gen firms tricking life insurance customers
  • Individual Protection
  • 25 March 2020
Lead gen firms using 'virus' to exploit customers
  • Marketing
  • 26 March 2020
'Proceed with caution' when advertising life insurance
  • Marketing
  • 02 April 2020
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
  • Topics
  • Regulation
  • Adviser / Broking
  • Individual Protection
  • Protecting the Protector's
  • lifesearch
  • Contact State
  • lead generation
  • online
  • Advertising Standards Authority
  • Information Commissioner's Office
  • FCA
  • Life insurance

More on Regulation

Savings trump life cover for over 50s during pandemic

OneFamily survey

  • Individual Protection
  • 14 April 2021
Amanda Kerr: Focus on the here and now to protect clients' future health

'We can and should be empowering customers with the tools and knowledge'

  • Adviser / Broking
  • 14 April 2021
L&G pays 96% of personal protection claims in 2020

Totalling £764m

  • Individual Protection
  • 12 April 2021
Lifecover.com to provide protection advice for Loans Warehouse

New partnership

  • Adviser / Broking
  • 08 April 2021
LV= demutualisation criticised as 'rushed' and 'wholly unnecessary'

APPG report

  • Insurer
  • 08 April 2021
blog comments powered by Disqus
Back to Top

Most read

Jeff Woods appointed as L&G head of intermediary development
Jeff Woods appointed as L&G head of intermediary development
Swiss Re: Group risk grows 3.6% during pandemic year
Swiss Re: Group risk grows 3.6% during pandemic year
Canada Life names Lindsey Rix UK chief executive
Canada Life names Lindsey Rix UK chief executive
Amanda Kerr: Focus on the here and now to protect clients' future health
Amanda Kerr: Focus on the here and now to protect clients' future health
Covid dominates The Exeter's IP pay outs in 2020
Covid dominates The Exeter's IP pay outs in 2020
  • Contact Us
  • Marketing services
  • About Incisive Media
  • Terms and conditions
  • Policies
  • Careers
  • Twitter
  • LinkedIn
  • Newsletters
  • YouTube
  • Instagram

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017
Loading