UK insurance and protection provider Legal & General has completed the rollout of its New Early Warning System, an online service that alerts advisers when premiums have not been paid on their clients' policies.
Benefits of New Early Warning System (NEWS) to clients include confidence that protection cover will not lapse, an enhanced service from advisers and a reduction in time and money setting up new policies by maintaining existing policies.
Benefits to advisers include providing a more effective service to clients, improving client retention and retaining commission.
Following a successful pilot, the New Early Warning System is now fully available to all advisers. This unique online service flags up missed premiums and ensures that clients are not left exposed by lapsed policies as well as helping advisers safeguard their commission, said Bonnie Burns, protection marketing director at Legal & General. Technology such as this gives us the edge and shows how Legal & General is leading the market for innovation and service.
Ms Burns continued, We have automatically registered over 15,000 advisers on the system so that it is ready for them to use. We expect more to come on board over the next 12 months. Initial feedback has been very positive and this is clearly a system which will make advisers’ lives a lot easier.