An early warning system employed by Legal & General has helped it pay out 2,655 claims this year. The system alerts brokers when an issue may arise for a client, allowing intermediaries to make sure coverage is in place. Among the issues picked up by the early warning system are lapsed or voided policies, as well as incidents of bounced credit. The firm says it has paid out £30m ($40m) resulting from its early warning system during 2017.
An early warning system employed by Legal & General has helped it pay out 380 claims this year. The system alerts brokers when an issue may arise for a client, allowing intermediaries to make sure coverage is in place. Among the issues picked up by the early warning system are lapsed or voided policies, as well as incidents of bounced credit. The firm says it has paid out £30m ($40m) resulting from its early warning system during 2017.