2nd October 2008

LV= launches 'large case’ service for protection cases

LV = launches 'large case' service for protection cases

• End-to-end processing time reduced by up to 60%
• Policy take-up increased by 36%

Protection specialist LV= has announced a brand new ‘large case’ service across its range of protection products for financial advisers’ high net worth clients.

Recognising that larger cases can often be more complex and typically can require more information prior to underwriting, for example specialist medical information and financial assessments, LV= has launched a dedicated team providing advisers with a single point of contact throughout the application process. This is designed to ensure that the entire experience is time-saving and efficient for both advisers and their clients.

An initial trial of the service has shown that the end-to-end processing time in days of large applications has been reduced by up to 60%. In addition, feedback from advisers has been extremely positive.

The new service from LV= is available for the following protection products with specific minimum amounts of cover:

Chris McFarlane, Head of Protection at LV= said: “We understand that larger cases often need specialist attention and so we have introduced this service to put the minds of advisers and their clients at rest, and reassure them of our swift and effective processes. Financial advisers have told us that this type of service would be useful, so we have listened to them and worked to develop a service that we know they will value. Since we have introduced our ‘large case’ approach we have been able to halve the application time for some cases, as well as seeing a large increase in policies from advisers who have piloted the service. So it is a win-win situation for both financial advisers and their clients.”

In addition, all LV= Flexible Protection Plan policyholders will not only benefit from great products at competitive prices, but will also get free access to a valuable online health assessment and advice service ‘Healthy Steps’.

For more information about the range of protection products available from LV= visit http://www.lvadviser.co.uk/.