Legal & General has revealed plans to offer brokers guaranteed home insurance, invest heavily in its critical illness cover and bring down pricing on its income protection.
Legal & General has revealed plans to offer brokers guaranteed home insurance, invest heavily in its critical illness cover and bring down pricing on its income protection.
L&G insurance managing director Mark Holweger said the insurance giant will focus on using technology to simplify transactions and take cost away from intermediaries.
Holweger said: “We will use data in partnership with another firm to develop a guaranteed home insurance quote with just a few questions rather than just an indicator.
“It will be competitively priced – there would be no point in developing such a product if it wasn’t.”
Holweger also said the firm plans to “kick hard” on critical illness and will invest in income protection to bring pricing down and use robotics to develop services like webchat.
He confirms plans to move L&G insurance applications from hard to soft documentation, reducing the number of pages and making sure all terms and conditions are relevant.
He said: “What we need is simplification – in 2016 much of the drive will be on making things easier for brokers and our customers.”
