Case study: The transfer of Lion of Africa clients
There is never a good time to receive word of an underwriter closing down a line of business or permanently shutting up shop.
When Legacy received notice in November last year that Lion of Africa (LoA) was winding down its operations, the team went into overdrive and not only very quickly found alternative cover through another underwriter, but also set an automated IT driven solution in place.
Clients were informed of the LoA closure while at the same time receiving details of the alternative cover on offer so they could seamlessly move forward. Their responses, choices and permissions were recorded electronically and brokers were regularly updated and appraised of the progress and outcome.
The result was that brokers were able to enjoy a stress-free holiday season knowing that their clients were safe-guarded against not having cover whilst at the same time being dealt with efficiently. There was 100% positive feedback, proving that life is easier when you work with Legacy.
Says proud Legacy team member Anel van Schalkwyk: “We are very excited about technology and the possibilities that it brings, and Legacy has constantly proved that its automated processes are fast and effective.”
The underwriter taking over the business was equally impressed and complimentary with regards to the highly automated, quick and efficient systems-driven process employed by Legacy using the Legacy On-Line (LOL) system. Moreover, all required communication and disclosures were done correctly and within the required time frames.
Nicky Greyling from APBCO Brokers adds: “The high level of automation (for traditionally tedious processes like following up on unpaid debit orders and renewals) makes the Legacy On-Line system a pleasure to deal with. It also alleviates our day-to-day administrative burden. With the recent Lion of Africa closure, Legacy made use of an automated process – not only to inform affected clients – but obtain their preferred course of action and permission to move their business. They then transferred all business whilst keeping us informed every step of the way. It was a truly easy and painless process for everyone involved.”
Says Legacy’s Christo Crafford: “In a world where administrative and compliance burdens have increased exponentially, it makes sense to work with an administration system that allows brokers to focus on client service and marketing. We are here to help brokers grow their business while all aspects of compliance, best practice and treating customers fairly are taken care of!”
To find out more, please visit www.lum.co.za or call Christo Crafford on +27 82 920 3062 or send your contact details to firstname.lastname@example.org