The UK's largest friendly society LV= will provide its award winning ‘Income Protection Plan' and whole of life ‘50 Plus Plan' to the customers of Standard Life through the latter's Direct Telesales team.
Standard Life will manage marketing and sales activity to its UK direct customer client bank, using LV= branded product literature. Customers will complete the sales process with Standard Life's Direct Telesales team, acting as ‘introducers' to LV=. LV= will then manage all underwriting, administration and servicing of the policies. The partnership will run for an initial period of three years.
Commenting on the new partnership with Standard Life, Stuart Tragheim, Director of Distribution Strategy and Business Development said: "We are delighted to have won this partnership and to be the new provider of specialist protection solutions to Standard Life's customers. We have award-winning product and service expertise in protection, and Standard Life recognised our financial strength, and our ability to deliver bespoke product solutions for customers, and to get these to market quickly.
"This partnership builds on our substantial experience in packaging life and general insurance products for the customers of other like-minded organisations. As a financially strong mutual organisation, we plan to extend our ‘partner of choice' franchise going forward."
Anne Gunther, Chief Executive of Standard Life Client Management said: "I am delighted LV= has been appointed to our panel of protection advisers. This arrangement will enable us to continue developing our direct to customer proposition and offer clients a holistic approach to their financial planning needs. LV= has a strong brand and track record of innovative thinking in the protection market."
Through its existing partnerships LV= provides life, protection and general insurance products to wide range of organisations including Nationwide Building Society, T&G, AMICUS, Intune (Help the Aged), CSMA Club and the Royal College of Midwives.
