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Latest news in the UK for December 2006 covering the financial news sector.
L&G launches NEWS
13 December, 2006
Legal & General (L&G) has completed the rollout of its ‘New Early Warning System’ (NEWS).
NEWS is an online service which will alert advisers when premiums have not been paid on their client’s policies.
Bonnie Burns, protection marketing director at Legal & General, said: “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. Technology such as this gives us the edge and shows how Legal & General is leading the market for innovation and service.”
The benefits to clients of NEWS are:
• Confidence that protection cover will not lapse
• Existing policy is maintained, therefore reducing time and money setting up new policies
• Enhanced service from adviser
The benefits to advisers are:
• Provide more effective service to clients
• Improve client retention
• Retain commission
• Faster reinstatement process, thus reducing outstanding premiums
Burns said: “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.”
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