L&G pays out £180m through Early Warning System
Legal & General paid out £44 million in 2016 as a direct result of its Early Warning System and has now paid out a total of £180.7 million from 2,411 claims as a direct result of the introduction of the system in 2010.
Its new figures show that in 2016 the insurer received 607 claims from families and beneficiaries who benefited from the EWS.
The EWS is a free tool created by Legal & General to make sure advisers are aware of any policies that are about to lapse and encouraging them to get in contact with their clients to discuss renewing or updating their policies.
Steve Bryan, Director of Intermediary at Legal & General, said: “We place a great amount of emphasis on the importance and necessity of client retention at Legal & General. Ensuring best customer outcomes is vital for the longevity of an adviser’s business and future, and the introduction of our Early Warning System is designed to help support both adviser and client by alerting them when a policy is nearing the end of its term.
"It is pleasing to see that the introduction of this free tool has resulted in a total of 2,411 claims, and that we have subsequently been able to pay out over £180 million to our customers since 2010.
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