L&G pays out £19.5m through Early Warning System in 2018
Legal & General has paid out £19.5 million in 2018 as a direct result of its Early Warning System, which informs advisers of policies that are about to lapse.
"Our Early Warning System continues to support advisers, alerting them when a client’s policy is nearing the end of its term. "
The system flags policies which are at risk, encouraging advisers to get in contact with their clients to discuss renewing or updating their policies.
In 2018, L&G received 541 claims from families and beneficiaries who benefited from the EWS.
Since 2010, L&G has paid out £220 million from 3,206 claims as a direct result of the introduction of the system.
Craig Brown, director of intermediary at Legal & General Insurance, commented: “Our Early Warning System continues to support advisers, alerting them when a client’s policy is nearing the end of its term. Our free tool has resulted in a total of 3,206 claims being renewed and we have paid out over £220 million to our customers since 2010.”
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