‘We have listened to advisers and designed this to meet increasingly sophisticated client requirements,’ says managing director
Aviva has launched an enhanced high value protection proposition, combining specialist teams into a single unit and increasing maximum cover limits to more than £100m.
The insurer said the new proposition was designed to help advisers meet increasingly complex protection, wealth and inheritance tax (IHT) planning needs among high net worth (HNW) clients.
As part of the changes, Aviva has brought together its existing high value protection specialists and those from APUK, formerly AIG Life, creating a dedicated team spanning sales, underwriting, pricing and customer service.
The former APUK proposition has now closed to new business, although existing pipeline cases will continue to be honoured.
Fran Bruce, managing director of protection at Aviva, said: “Bringing together specialist expertise, enhanced capabilities and dedicated support enables us to provide advisers with an even stronger offering for their HNW clients.
“We have listened to advisers and designed this to meet increasingly sophisticated client requirements, strengthening our ability to support wealth and estate planning conversations, while helping advisers deliver tailored protection solutions with confidence.”
Two-tier service model
The proposition introduces premier and high value service tiers, with support determined by the complexity and value of each case.
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Premier is aimed at ultra high value business, covering life insurance applications above £5m, critical illness policies exceeding £1m and cases with monthly premiums above £750. Advisers will receive dedicated underwriting and administration contacts, with applications assessed within 24 hours and medical evidence reviewed within 48 hours.
The high value tier supports life insurance applications above £1.5m, critical illness cover exceeding £750,000, whole-of-life policies above £500,000 and income protection of more than £125,000 a year.
Aviva has also created the role of high value strategic accounts manager, with Ben Whatling leading the specialist distribution team.
Whatling said: “Amid rising demand for inheritance tax planning and a recognition of the role protection can play in wealth planning, advisers tell us they need faster decisions, clearer routes to expertise and more support on the biggest cases.”
He added the integration of Aviva’s and APUK’s strengths into a single proposition and dedicated high value team would give advisers a simpler and more connected experience.
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