"Through the introduction of our Early Warning System, we aim to support advisers in ensuring they secure the best outcomes for their clients."
In the year-to-date, the insurer received 380 claims from individuals who have benefited from the EWS, and since 2010 Legal & General has paid out a total of £201 million from 2,665 claims as a direct result of the introduction of the system.
The free tool ensures advisers are kept informed of any policies which are at risk and encourages them to contact their clients in order to discuss renewing or updating their policies.
Craig Brown, Director, Intermediary, Legal & General, said: “At Legal & General, we understand the importance of customer satisfaction for an adviser’s business. Through the introduction of our Early Warning System, we aim to support advisers in ensuring they secure the best outcomes for their clients.
"By sending out an alert when a policy is nearing the end of its term, this free tool is designed to flag a possible future lapse in cover, thereby facilitating a discussion between advisers and clients about renewing their insurance before they find themselves without it. It is fantastic to see that since the launch of this system it has enabled a total of 2,665 claims to be paid, with over £200m being paid out to our customers since 2010 as a result."
