Legal & General Group Protection has launched the next generation of its digital online quote and buy platform for intermediaries.
L&G says this Online Insurance Experience (Onix) platform has been designed to be more flexible and offe increased options, for example it removes upper restrictions on scheme size. There are also more eligibility options, enabling consultants and advisers to grow the group protection markets.
L&G says Onix offers quick access to quotes through automated underwriting, and will also flag up non-standard requirements to the insurer’s underwriters to review.
Other key features include a new quote journey for the excepted group life policy. L&G says the system has also been designed to save time for intermediaries by allowing them to upload employee data templates. Intermediaries can also verify employers quickly via a direct link to Companies House.
The launch of Onix is accompanied by Legal & General’s new ‘Big on small business’ SME Group Protection sales materials, designed to help intermediaries make products more relevant and straightforward for SME clients.
L&G has also recently launched a new wellbeing campaign, focusing on the additional support options offered which it says are particularly valuable for smaller employers.
Legal & General group protection distribution director Colin Fitzgerald says: “Intermediaries are often time poor and admin heavy. It’s probably safe to say smaller customers have been time consuming for advisers and don’t get the attention they really need – a one size fits all approach is common with little time to consult.
“And many generalist intermediaries are under the impression that group protection – and wellbeing per se – is just too complicated. Our goal is to bring workplace protection benefits to more people through digital innovation designed to expand market opportunities, save time, remove complexities and put the intermediary in control. By being more flexible with quote options and less rigid with eligibility, ONIX affords the intermediary greater certainty, control and quick decisions.
“And along with our new SME sales materials, Be Well hub, our outcomes-focused framework for wellbeing at work, plus ongoing training and support, we now have everything in place to help intermediaries explore new opportunities amongst the largely untapped 1.4 million employing SMEs in the UK.”