Standard Life will manage marketing and sales activity to its UK direct customer client bank, using LV= branded product literature.
Customers will complete the sales process with Standard Life’s direct telesales team, acting as introducers to LV=.
LV= will then manage all underwriting, administration and servicing of the policies. The partnership will run for an initial period of three years.
Stuart Tragheim, director of distribution strategy and business development at LV=, says: “We are delighted to have won this partnership and to be the new provider of specialist protection solutions to Standard Life’s customers.
“We have award-winning product and service expertise in protection, and Standard Life recognised our financial strength and our ability to deliver bespoke product solutions for customers, and to get these to market quickly.”
Through its existing partnerships LV= provides life, protection and general insurance products to a wide range of organisations including Nationwide, T&G, AMICUS, Intune (Help the Aged), CSMA Club and the Royal College of Midwives.