‘e-Protection Choices’ enables advisers to construct for clients a bespoke, value for money package of family, personal and mortgage protection benefits to match their needs. Its ‘store and forward’ technology enables advisers to provide a quotation and collect all the client’s proposal data offline before going online to submit applications directly to Legal & General when it is convenient for them.
The package was launched in April 2002 and has been enthusiastically adopted by IFAs and the company’s tied agents. Around 90 per cent of Protection Choices applications are now submitted electronically which has been instrumental in the company now receiving over 50 per cent of all protection applications online.
The annual Financial Innovation Awards recognise achievements in adding value to business and are given for outstanding innovation within the financial services industry. The awards are given by the Institute of Financial Services in partnership with BT. Commenting on the award, Graham Newitt, protection and housing director, said: “This award is the icing on the cake for a technology that has proved enormously popular among financial advisers. Legal & General is continuing to develop innovative ways for financial advisers to conduct business with us electronically. This award shows we are going in the right direction.”