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Bright Grey to increase underwriting limits

Bright Grey has unveiled plans to strengthen its protection proposition
by increasing its underwriting limits.

The protection specialist today revealed plans to speed up the underwriting
process for larger cases by increasing it’s underwriting limits and
introducing a team of senior underwriters.

The changes will see a reduction in fixed escalation rates, an increase in
the amount of maximum life cover from £2m to £5m and an increase in the
amount of maximum CI or CI and life from £500,000 to £1m.

Other changes, which take effect from July 28, include extending the return time for confirmation forms from 30 days to 60 days.

Bright Grey product director Roger Edwards says: “This year our focus has
been on improvements to the customer experience of our application and
underwriting proposition.

Following the introduction of our reinsurer independent underwriting system,
these enchantments reflect and build upon market trends, such as the
requirement for higher levels of cover.”


Web tool assesses TCF

Marketing group Golley Slater has developed a web-based tool, Kaleidaview, which measure firms’ success in implementing the FSA’s treating customers fairly initiative.

Cost controls

Much has been written about the move that most advisers are taking towards servicing models and passive incomes and the challenges that manufacturers face regarding balance sheet erosion due to distribution cost. The generally accepted solution is a product with less initial and increased trail commission but this is in danger of creating problems as great as those it is designed to serve. I am talking about the cost of providing this solution to the consumer in this new model way of working.

Online PPI sellers miss deadline

Many online sellers of payment protection insurance have failed to comply with the FSA’s new eligibility requirements by the July 6 deadline, says British Insurance.


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