Legal & General Group (L&G) has launched a new data programme for advisers to enable them deliver more customised service to their protection clients.
Dubbed Customer Risk and Opportunity Management, the new data programme enables advisers to analyse trends and correlations relating to sale, retention, underwriting and claims experience in a clear way.
The service, which features software from visual analytics specialist Tableau, will allow advisers to spot trends and patterns, identify opportunities and future risks, and make data-driven decisions.
Subsequently, the insurer can create a dashboard which will exhibit all the output to share with advisers. It will enable them make better recommendations to their existing as well as future clients.
Legal & General head of commercial management and data quality management Rob Gaunt said: “We have been working with Tableau for quite some time to ensure we can utilise the right data for our partners, with the aim of delivering even better quality of business to our customers.
“As the market’s leading visual analytics provider, Tableau will enable our partners to identify opportunities and future risks to make data driven decisions with confidence. We believe our insights will help deliver extremely valuable customer insights about and we are excited for the year ahead as we plan our full launch.”
The soft-launch of the software will take place during the second quarter of this year in collaboration with some intermediary partners, with a wider roll-out planned in July this year.