LV= says protection business at its advisory arm has increased by 50 per cent since it began using LifeQuote’s Intelligent Protection software last June.
The insurer says its case size has increased significantly because Intelligent Protection allows its 53 advisers to recommend a more comprehensive range of products in a shorter space of time.
Financial advice services director Robin Willison says: “We have not seen a huge increase in our volumes but our case size has gone up significantly. Our advisers can go through the protection products so much quicker so customers are getting a broader range of products recommended and they are seeing the benefits of covering themselves to a greater extent.”
Intelligent Protection allows advisers to tailor a protection plan to a client’s circumstances. LV= uses a version of the software which has been modified specially to provide quotes from the insurer’s flexible protection plan range and family income benefit plan.
LifeQuote sales and marketing director Richard Verdin says: “The development of Intelligent Protection has helped to revolutionise the way advisers advise and customers buy. We look forward to continuing to work with LV= in improving things further.”