Bright Grey’s ‘magic circle’ website is another hit with advisers. It provides a range of generic sales aids that can be ‘white labelled’ and branded as your own, giving intermediaries their own marketing material to help build their protection business.
Emma Thomson, life office relationship director at protection intermediary LifeSearch, comments: “Rather than just talking about what they can offer themselves, Bright Grey has produced a number of generic sales aids about the overall value of protection, with the added bonus that IFAs can white label them with their own logos and contact details.”
The range of sales aids available includes covering the need for protection, persuasive statistics, protection for first time buyers and protecting your investments.
www.brightadviser-magiccircle.co.uk
Early Warning System
Legal & General’s EWS tool helps advisers to save missed protection premiums, which may have been caused by a bounced or cancelled direct debit, policy lapse or circumstances where the policy is cancelled from outset. L&G claim £22m worth of claims were paid in 2011 as a direct result of lapsed policy notifications and reinstatement - numbers which are supported by the Mortgage Advice Bureau.
MAB’s retention team was set up in 2006 to handle arrears notifications and ensure lapses are kept to a minimum. With over £7m income saved so far and counting, MAB chief executive Peter Brodnicki, states: “We have continued to develop our retention process with L&G, who have been extremely supportive of the teams work and what we are trying to achieve.”
www.legalandgeneral.com/advisercentre/technical-centre/our-online-services/early-warning-system
F&TRC’s claims statistics tool
Financial services research specialist F&TRC launched a new claim statistics tool for advisers last month. The real-time tool features in-depth claims data for life cover, critical illness cover and income protection from ten leading insurers including Legal & General, Aviva, Friends Life and more.
As well as including the overall percentage of claims paid during a specific period, the data also includes a range of other factors specific to each insurer, including the number of claims paid, average age of male and female claims, youngest and oldest age of claimants, most common reasons for claims, a breakdown of why claims were declined and the average time taken to pay claims.
Research shows that the consumer perception is that less than 40% of claims are paid, while the reality is 90%. This tool provides an unparalleled amount of claims data in one place, in a simple and consistent format to help advisers and consumers understand the need for protection.
