Claims data tool aims to reassure

Research firm The Finance & Technology Research Centre has launched a new claim statistics tool which aims to allow advisers to dispel consumers’ fears that protection insurers do not pay claims, therefore improving the chance of a sale.

The online tool, which is free, features in-depth claims data for life cover, critical illness cover and income protection insurance from 10 of the market’s largest insurers.

It provides various claims stats including the number of claims, top 5 reasons for claiming and why claims were denied.

LifeSearch life office relationship director Emma Thomson says: “Publishing claims statistics is vital to dispel the myth that protection policies don’t pay out.”