L&G unveils protection business tool

Legal & General has created a new tool to help advisers analyse how much protection business the firm is writing and to spot where policies need renewing.

The Retention MI Toolbox, or ReMIT, allows Legal & General's protection sales consultants to interrogate overall sales volumes, the proportion of protection applications converted into sales and the rates applied to lapsed insurance policies.

The objective of the tool is to highlight the areas where advisers can drive up their protection business. Legal & General will use that information to propose a tailored strategy to help the IFA firm achieve its objective.

Adrian Clark, chief operating officer of protection for Legal & General, said: "ReMIT allows us a window into the sales performance of advisers and allows us to highlight where we can use our expertise to improve adviser's profitability."