"The Reassured Trust delivers a solution fit for the modern world where the vast majority of plans are sold digitally or over the ‘phone: no paper, no signature and one form for all insurers."
- Phil Jeynes, director of corporate strategy at Reassured
A Reassured Trust form will now be issued to customers after buying any Life or Critical/Serious Illness policy, along with the firm’s innovative Artificial Intelligence (AI) welcome emails that include clear instructions on the benefits and ease of completing the document.
The universal Reassured Trust is digital and doesn’t require a wet signature with a simple, web-based form to enable the customer to complete it within minutes. Once complete, Reassured will conduct a full review of the form and register it with the relevant insurer alongside the policy. The firm will confirm the process has been completed to give peace of mind to the customer.
So far, all major insurer partners have signed off on this new service from a legal and compliance perspective, including AIG, Aviva, Legal & General, LV=, The Exeter, and Vitality.
Ali Crossley, managing director of distribution at Legal & General Retail said that “the innovation from Reassured means that more customers will be able to simply and effectively ensure the proceeds from their plan go to the right people at the right time.” Jamie Page, head of protection distribution at The Exeter, exclaimed that the new solution was a “modern, digital approach to Trusts ensuring brilliant consumer outcomes,” and that it is “testament yet again to the care Reassured gives to its customers and the ongoing investment they are making to drive the industry forwards.”
Commenting on this announcement, Phil Jeynes, director of corporate strategy at Reassured, has said:
“The take-up rate of Trusts has been lamented in the Protection industry for as long as most can remember, thanks to complicated processes and the need for wet signatures if implemented after a policy is sold. The Reassured Trust delivers a solution fit for the modern world where the vast majority of plans are sold digitally or over the ‘phone: no paper, no signature and one form for all insurers.”