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Reassured, the life insurance broker, has begun issuing its own branded, signature-free, universal ‘Trust’ form in the hope of streamlining the customer process.
A Reassured Trust form will be issued to customers after buying any life or critical/serious illness policy, along with the firm’s Artificial Intelligence (AI) welcome emails, with clear instructions on the ease of completing the document.
The universal Reassured Trust is fully digital and requires no wet signature with a simple, web based form enabling the customer to complete it in minutes with nothing to download, print or save.
Reassured conduct a full review of the form once completed and register it with the relevant insurer alongside the policy.
The firm then confirms the process has been completed to give full peace of mind to the customer.
All major insurer partners have signed off this new service from a legal and compliance perspective, with AIG, Aviva, Legal & General, LV=, The Exeter and Vitality all on board to date.
Phil Jeynes, Director of Corporate Strategy at Reassured, said:
The take up rate of Trusts has been lamented in the Protection industry for as long as most can remember, thanks to complicated processes and the need for wet signatures if implemented after a policy is sold.
The Reassured Trust delivers a solution fit for the modern world where the vast majority of plans are sold digitally or over the phone: no paper, no signature and one form for all insurers.
Ali Crossley, Managing Director, distribution at Legal & General Retail, added:
Placing a policy into Trust is one of the most important yet underused elements of protection.
This innovation from Reassured means that more customers will be able to simply and effectively ensure the proceeds from their plan go to the right people at the right time.
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