It is doing this by using its bespoke back office admin and CRM system, called ‘LifeLines’, which allows advisers to analyse their client banks and identify opportunities to approach customers who either don’t have any protection or general insurance, or need their existing portfolio reviewed. The system is also linked to Legal & General’s early warning system (EWS) making it easier to identify protection business at risk and therefore increasing the retention rate of customers.
LifeLines receives streamed data overnight from Legal & General’s point of sale system – Launchpad. This means that advisers always have up-to-the-minute data on their customers’ needs. LifeLines can help an adviser to re-evaluate a customer’s situation and contact them for a review if necessary, by e-mail, telephone or by using a template letter provided by the system.
Malcolm Cowcher, Sales Director said: “So far this year, many of our business partners are performing at or around their 2008 figure in terms of client retention, which in the current climate can be considered pretty good. However, there are 16 businesses which have improved their sales figures by following Legal & General’s best practice which involves marketing, communication and CRM principles. Customer appointments have been made and kept which is good for sales and good for meeting the principles of TCF.”
Business Partners such as APH in Buckinghamshire, Access Mortgages in Glasgow, plus Mortgage Advice Shop and The Mortgage Group both in Belfast have all demonstrated that where correct processes are combined with technology, protection business can be increased even in a recession.
Peter Mulraney, Director of Access Mortgages said: “CRM helps us get a foot in the door. We are able to have all the relevant client information at our fingertips which gives our sales activity a much better chance of success.”
“When we have a good grasp of our clients’ situations, we know that we are targeting the right people with the right advice.”
