Guardian Financial Services has paid out its first claim less than two months after its full launch to the intermediary market.
The claim was paid to a customer who injured himself during a sporting activity.
He suffered a dislocated shoulder which was covered as part of Guardian’s fracture plus protection.
The pay-out was £6,000 – the highest available with this type of additional cover.
The client called about the injury on a Monday. Guardian took a few details over the phone, and then called back within 30 minutes to confirm the claim would be paid.
As a result, the £6,000 payment was in the customer's bank account by the end of that working week.
You could argue that a business isn't truly up and running until it pays its first claim so it's good to say that we’re now operational.Julie HopkinsThe payment is the first of any kind by Guardian.
Julie Hopkins, director of underwriting strategy and claims at Guardian, said: "You could argue that a business isn't truly up and running until it pays its first claim so it's good to say that we’re now operational."
Martin Wilson, chief executive of The Right Mortgage & Protection Network, said: "It is great that advisers and clients are starting to see the benefits of the Guardian offer.
"Since our initial meeting with Guardian we’ve been excited about their proposition and what they’re bringing to the protection market."
Protection challenger Guardian Financial Services fully opened for business at the end of August.
The new life and protection insurance business has been established with £180m of investment and has pledged to grow the £700m protection market.
The pay-out came as today (October 30) Primis and Personal Touch Financial Services added Guardian Financial Services to their protection panels.
emma.hughes@ft.com
