First Complete system flags up missed payments

First Complete has introduced a new notification system which alerts members when a client misses a payment on their protection policy.

The information provided will be a composite of when a payment was missed, the arrears due, the requirements needed to reinstate the policy and the amount and date of commission clawback should the clients’ premiums remain unpaid.

First Complete sales operation director Toni Smith says: “Our new lapse early warning system means that our members are notified as soon as a client misses a payment so they can immediately contact the customer and find out what has triggered the change. In the majority of cases this simple, early intervention can stop a policy from lapsing.”