Royal & SunAlliance has launched a new and improved group critical illness product.
It offers employers the option to remove the `related conditions’ exclusion from the policy, so removing any doubt that may exist at the outset about benefit payments.
The product is also designed to increase flexibility by providing a lump sum of up to seven times the employee’s annual salary, as opposed to the market-normal four times.
R&SA has also put together an IFA-targeted approach which should open up avenues into other executive benefits and business protection areas.
R&SA leader, IFA corporate business Peter Anderson said: “The group critical illness market grew by 75 per cent last year but is still relatively under-developed in comparison to other employee benefits.
“There are excellent opportunities for both experienced employee benefit consultants and IFAs new to corporate business.”
Meanwhile, Royal & SunAlliance Healthcare & Assistance has adopted a new approach to claims management with the aim of speeding up its claims process.
The result has seen an increase in productivity of over 30 per cent at a time when the volume of work in the claims areas has more than doubled.
Head of managed care Robert Fielding said: “We have adopted a text book approach to re-engineering.
“The benefits are clearly evident and our investment in e-business processes will allow us to reap additional benefits in the short and long-term.”