Norwich Union to launch Simplified Life on portals

Article date: 31 March 2008

  • Advisers invited to test site to win top sports car driving experience

Norwich Union is giving financial advisers with a taste for speed the chance to indulge their passion, thanks to the launch of a new online life insurance service.

As from 31 March, advisers will have the opportunity to win an experience day driving a Ferrari, Porsche and Lotus Elise by checking out the insurer's new Simplified Life trial micro site (http://www.simplified-challenge.com/). Participants will compete for four available prizes by aiming to complete the challenge in the quickest time; the competition will run for eight weeks.

The site will enable people to become familiar with the product and its processes before it goes live on a range of portals including The Exchange, Assure Web and Weblink on 7 April 2008. During April and May, there will be a 5% special offer discount on premiums.

Simplified Life Cover offers level and decreasing term. It uses a streamlined, interactive system which can produce instant policy quotations and acceptance offers from the information provided. It will also tailor policy premiums to reflect an individual's circumstances and offer instant acceptance decisions for around three quarters of applicants.

Simplified Life has previously only been available direct to customers through Norwich Union's own site and via a small number of selected partners. Its quick, straightforward application process allows instant acceptance with life cover obtained in as little as 15 minutes. This compares to 45 minutes through more traditional online routes.

Darren Dicks, head of protection proposition, says: "Many people who think about purchasing life insurance are put off by the idea of filling out lengthy, time-consuming forms. Simplified Life cuts this time considerably by using a streamlined online application system which accepts 75% of applicants without the need for manual underwriting.

"This means that in the majority of cases, advisers can now complete the process in a matter of minutes, helping to close the UK's £2.3 trillion protection gap*."

Advisers will also be given access to a specialist underwriting helpline, as well as competitive prices and an attractive commission package.

To find out more about Simplified Life Insurance advisers should contact their usual Norwich Union Consultant or visit the Adviser Sales Centre - www.adviser.norwichunion.com.

-ends-

*Source: Swiss Re 2007

Press office contacts:

Emma Broadbent 01904 45 2791 / out of hours 07800 692935

Notes to editors:

About Norwich Union
Norwich Union is the UK's largest insurer. It is a leading provider of life, pensions and investment products and one of the largest financial adviser (FA) providers. FAs provide over 70% of the company's long-term savings business in the UK.

Norwich Union's news releases and a selection of images are available from Aviva's internet press centre at www.aviva.com/media.

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