View more on these topics

Aviva settles death claims in half a day

Aviva is piloting changes to its teleclaim process that aim to settle life cover claims without sight of a death certificate.

The trial has been running since January 28 and has seen the average time it takes to pay a death claim fall to half a day.

As part of the pilot, the maximum sum assured that can be paid via teleclaims has been raised from £50,000 to £250,000.

Policies that can be paid through teleclaims have to be joint-life policies payable on first death that have been in force for at least five years, without trusts and assignments and with no coroner involvement.

The shortest turn-round time Aviva has achieved in paying a death claim under the trial is two hours. The longest is 24 hours.

Research carried out by reinsurer RGA on behalf of the Investment & Life Assurance Group last year found that the average settlement time for death claims was 73 days.

Aviva director of protection Richard Verdin says: “Insurers are often accused of avoiding paying claims. This is about the industry doing the right thing by the customer at the time they need it most.”


PMI widens options for admin qualifications

The Pensions Management Institute has overhauled its pensions administration qualifications as it looks to improve flexibility. The PMI, which has 5,000 members, has merged its qualification in pensions and in public sector pensions administration. It has created the certificate in pensions administration at QCF level three and the diploma in pension administration at QCF level […]

Era of flexibility

Flexible and capped drawdown usher in a new business era for advisers


N&P to pay up to £57m in Keydata costs

Norwich & Peterborough Building Society has set aside £57m to pay customers who invested in Keydata products through the society. N&P is writing to Keydata investors inviting applications for ex gratia payments, transferring the rights to the investment to N&P. It follows protracted talks over the level of payments to be made with the FSA […]

Eurozone agrees new bailout fund details

Eurozone officials have agreed on the new structure of the financial bailout fund to protect the area from its worsening debt crisis. This week, fears were raised that Portugal could have to seek financial support from the international community after it failed to pass new austerity measures and its prime minister, José Sócrates, resigned. At […]


DB transfer shouldn’t be all-or-nothing

By Steve Webb, director of policy In my recent discussions with advisers, a hot topic has been the growing number of people interested in transferring their defined benefit pension rights into a defined contribution pension scheme. With many pension schemes offering eye-watering transfer values, this is likely to be an area of increasing interest. Yet […]


News and expert analysis straight to your inbox

Sign up


There is one comment at the moment, we would love to hear your opinion too.

  1. sir,meri wife Mrs.Gitabai ki death ho gai hai jinki policy no ALA3086973 claim ke liya mein paresan ho raha hun please jaldi karne ki kripa karen thanks

Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm