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L&G records increased STP rates

Over half of Legal and General protection applications submitted online are being accepted at point of sale, research reveals today.

The provider has seen 56.2 per cent of online applications accepted straightway without the need for medical evidence, up from 52.3 per cent in June and from 48.3 per cent before its OLP Connect system was launched in April, which has built in underwriting decision capabilities.

For applicants aged under 35, 65 per cent are accepted at point of sale.

L&G underwriting and claims director for protection Russ Whitworth says: “If you want fast turnaround and quick underwriting decisions then we have set a new benchmark for online capability. The days of waiting for underwriters to scrutinise every application are gone, technology is taking over.”

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