Legal & General has paid out £30 million in 2017 as a result of its Early Warning System (EWS).
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.
he free tool has been created by Legal & General to ensure advisers are kept informed of any policies which are at risk.
he EWS aims to encourage advisers to contact their clients in order to discuss renewing or updating their policies, by identifying policies which are about to lapse. By doing so, clients can be safe in the knowledge that they are a fully covered when they need it most.
These statistics have been published following the release of details regarding Legal & General’s annual Business Quality Awards on Thursday 8 February. The event celebrates IFAs and network advisers that have shown outstanding commitment and best practice in client retention, with a new category being added this year for Protection Written in Trust.