The product aimed at consumers who choose internet-only approach to buy insurance
Bright Grey, a division of The Royal London Mutual Insurance Society, has launched Lifestyle Protection, a new product aimed at consumers who choose to buy insurance without seeking professional advice first.
The new product will be available through the internet intermediary site, theidol.com. Bright Grey intends to expand its sales capacity by rolling out Lifestyle Protection to other intermediary sites.
The product is a low cost proposition with fewer additional features that offers the option of life cover and life or critical illness cover, but retains the company’s signature speed of service and efficient online acceptance, allowing cases to be accepted online without further medical evidence, said Bright Grey.
Roger Edwards, proposition director at Bright Grey, said: We need to recognize that a certain segment of the population is using the internet to buy protection without professional advice. This group chooses the internet-only approach to buy and wouldn’t look to buy in any other way. Until now there hasn’t been a product that offers life or critical illness cover specifically tailored to this group of people, where they can complete the whole process online.
This proposition gives us proper access to that distribution channel, which runs in parallel to the advice-led independent financial adviser market, where we already have a strong menu proposition.
