Advisers and providers who deliver great customer service are helping people stay protected, Mark Holweger has said.
The managing director of partnerships for life and pension provider Legal & General, told attendees at the fifth annual Legal & General Business Quality Awards that it was not only vital to get more people insured but, through great service and communications, to ensure they stayed insured.
Mr Holweger said: “If you deliver good service, people will renew their policies and they and their families will stay protected.”
He highlighted the fact that L&G’s Early Warning System, developed in 2010 by its distribution quality mangement (DQM) team, has helped more than 63,000 customers stay insured over the last 12 months.
Where policies have lapsed or people have moved bank accounts, for example, a break in policy could leave them unprotected in case of an accident, illness or unemployment.
However, the early warning system has helped alert advisers when this happens.
They can then inform their clients that their policies have lapsed, which leads to improved renewal rates.
Mr Holweger said: “Never underestimate the importance of being there when it matters.”
Emma Thomson, life office relationship director at London-based LifeSearch, said: “Each year our efforts ensure thousands of clients and their families have protection in place should the unthinkable happen, and we’re hugely proud of that achievement.”
The awards, first launched in 2011, recognise and commend IFAs and network advisers who have demonstrated exceptional levels of customer service and a proven commitment to the retention of protection business.
At the event on 12 February, John Charcol won the Outstanding Performance award after demonstrating a low lapse rate.
The Best Reinstatement Performance Award went to Top Quote - which won for the fifth time in a row.
The Best Customer Retention Performance Award went to Live Life Protected (protected.co.uk), while Thameside Associates won the Customer Excellence Award (Firm) award.
The Customer Excellence Award (Network) was given to Mortgage Advice Bureau.
Cardiff-based Vita took the Special Recognition Award, while Lifesearch was handed the Outstanding Customer Outcome award.
Luke Ashworth, chief executive of Protected.co.uk, said: “We’ve seen a year of transformation at Protected.co.uk, with our systems, processes and company culture all overhauled.
“Winning this award is testament to the hard work and commitment everyone involved has put into the business, and it is fantastic this has been recognised.
“Quality doesn’t have to be compromised by growth, and as we continue into 2016, we are all going to continue to work hard to prove that.”
