ProtectionNov 30 2015

Royal London unveils plan for combined protection businesses

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Royal London unveils plan for combined protection businesses

Protection business Bright Grey has now taken on the Royal London name, marking the start of the group’s revamp as it looks to bring its UK intermediary protection businesses under a single brand.

Royal London’s insurance arm Scottish Provident is next in line, and is due to start rebranding to Royal London at the end of the year.

Elements of the two businesses will be brought together to form a fresh protection business.

The combined protection businesses will offer a new income protection product that has extended age ranges to suit longer working lives, as well as improved unemployment cover that does not have to be linked to a mortgage.

The new business will also launch an online service with greater flexibility so that either the adviser or client can complete the application online.

The service aims to make the process of applying for protection products quicker and simpler in a bid to save advisers time and money.

Ian McKenna, director of the Finance & Technology Research Centre - which was commissioned by Royal London to independently assess the changes, said: “Bright Grey and Scottish Provident have always been hugely respected brands in the protection market.

“It is great to see that in bringing the two brands together Royal London has not only chosen the best from each organisations offering, but also added to this to enhance both the product for the consumer and experience for the adviser.

“Overall these changes should help advisers provide better protection products to their clients in less time and with reduced administration.”

The rebrand of Royal London’s protection businesses comes a year after pension provider Scottish Life’s name was ditched.