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Checks show wet signature works

Bright Grey has paid out on 85 per cent of life claims and 82 per cent of critical-illness claims in the past year.

The firm, which is owned by Royal London, has released claim statistics for the first time and says it has paid out over £20m on life cover since it launched in 2003 and over £14m on critical-illness cover.

Forty-two per cent of critical-illness claims were made due to cancer and the average age of male claimants was 43 while the average for women was 40.

Over 86 per cent of people who claimed in the past 12 months used the free helping hand counselling service to help them manage their illness.

In the past year, nearly 30 per cent of customers made material changes to their online applications when they were sent a copy to check, which Bright Grey says proves the effectiveness of the wet signature process.

Royal London chief executive intermediary division John Deane says: “We are proud to have helped people by paying out £35m of claims since launch. We are still a relatively young company and are confident that these claim statistics will get even better over the next few years as our book of business matures.”

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