View more on these topics

Lifesearch looks for surge in electronic applications

Protection intermediary Lifesearch expects to increase its electronically submitted applications to 90 per cent in a move its says will allow it to deal with half of its weekly protection applications within a quarter of an hour.

LifeSearch arranges insurance for around 400 families each week, with half covered in the same day without additional underwriting requirements. Seventy per cent of applications are currently online.

It hopes to be able to provide life cover within 15 minutes for over 200 applications per week. The ongoing development of electronic applications by providers such as Legal & General and Friends Provident is facilitating the increase in their on-line business according to the independent protection specialist.

It is effectively cutting out paper applications, reducing the requirement for consumers to complete lengthy application forms, easing admin and increasing processing speeds.

Friends Provident head of e-business Dave Mace says: “Traditional paper-based processes are a real problem for IFAs, taking up too much time and effort. We are delighted to be working with Lifesearch. As long as their processes are slick, they should be able to achieve their goal.”

Lifesearch development manager Emma Thomson says: “We began to submit business electronically in 2001 with Legal & General, as we believed this would improve the service we offer to our clients. Paperless applications allow better control, quicker acceptance, less delays and most importantly fewer mistakes from insurance companies.”


C&G and Lloyds TSB team up for offset mortgages

Cheltenham & Gloucester and its parent firm Lloyds TSB are offering an offset mortgage, combining a C&G mortgage with a current account from Lloyds TSB. The mortgage, savings and current accounts remain separate but the balances are offset to reduce the interest due on the mortgage. Customers carry on banking in exactly the same way. […]

Friends raises CI rates

Friends Provident is increasing its critical-illness insurance rates. Guaranteed rates rise by between 5 and 8 per cent, depending on terms. Reviewable rates go up by between 8 and 14 per cent. The company claims that the changes had to be made as other life offices have moved to raise critical rates. Head of protection […]

Aegon &#39in talks to buy Scottish IFA&#39

Aegon is rumoured to be in talks with Bradford & Bingley to buy Charcol Aitchison & Colegrave. B&B put its three IFA businesses – Charcol, Charcol Aitchison & Colegrave and Charcol Holden Meehan – up for sale last month along with its estate-agency arm. The move followed a strategic review after chief executive Christopher Rodrigues […]

FSA opening up to IFAs with regional surgeries

The FSA is going on the road in its first series of regional visits to IFAs which it hopes will make it appear more approachable. First port of call is Gloucestershire, where six members of the FSA team will answer queries from IFAs. IFAs will be able to book 45-minute surgeries to discuss issues. The […]


News and expert analysis straight to your inbox

Sign up


    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