Lloyds Bank reports 5% increase in protection take-up

New protection tool for advisers led the increase

Jaskeet Briah
clock • 1 min read

Lloyds Banking Group has reported that in branch take-up rates for protection policies increased 5% year-on-year for customers who have completed a mortgage.

Lloyds' new protection tool for advisers has led to the up-take in protection sales as it has allowed for "richer conversations" with new customers. The provider said it has enhanced its mortgage customer journey with the launch of new propositions, such as its mobile-first home onboarding journey and home ecosystem where customers manage and track their journey from researching options to completion. Both of these have improved Lloyds' retention of customers and its ability to offer complementary products, such as protection insurance. Additionally, Lloyds protected over 20,000 fa...

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