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Fortis Life UK picks up innovation award for Real Life Cover

29th June 2009

Customisation - the way forward for the protection market

Protection Insurer Fortis Life UK was delighted to receive 'The Innovation Award' for Real Life Cover at the recent Protection Review. The prestigious accolade, nominated by key industry figures, recognises a unique proposition, designed with protection specialist LifeSearch, which truly embraces TCF by meeting all essential protection needs in one plan. Real Life Cover addresses the perennial industry problem of selling too little occupational disability protection.

As part of Fortis' strategy to address real customer needs, the insurer also designed a menu, YourLife Plan that makes it easy for advisers to tailor a package of covers to meet the needs and budget of their customers.

At the Protection Review conference Martin Werth, Managing Director Fortis Life UK, described how effective menu plans can be used by advisers to customise protection to meet the customer's unique needs today and adapt to their evolving needs tomorrow. This moves the customers' focus from buying on price, to buying on satisfied demands and needs at a competitive and affordable price. The customised sales process will help the adviser create trust and lifetime engagement.

Martin Werth comments:

"Advisers can narrow the protection gap by delivering packaged solutions that address the customer needs, rather than selling single products. Well designed menus, such as YourLife Plan from Fortis, have a minimum plan premium, regardless of the number of covers and one application process that enables covers to be put on risk and changed independently of the others.

I am delighted with the overwhelming positive response that we continue to receive from the market on our products. This recognition further demonstrates the market appetite to provide innovative solutions that meet real customer needs and ultimately builds trust and confidence in our industry."

Fortis entered the UK protection market in July 2008, bringing a fresh approach that simplified processes for advisers, removing unnecessary costs and frustrations, placing them in control of their business. Fortis delivers market-leading straight through processing rates with the ability to offer immediate cover on 56% of applications, allowing advisers to respond to their customers needs with increased efficiency.

Notes to editors

Fortis accolades 2008

• Insurance Times Awards - Motor Insurer of the Year (December, 2008)
• Incisive Media - Gold Standard for Insurance (November, 2008)
• ifs Financial Innovations Awards - Most Promising New Product - Insurance (November, 2008)
• Auto Body Professionals Club - Insurer of the Year (October, 2008)
• British Travel Awards - Best Travel Insurance Company - Post Office (October, 2008)
• Green Business Awards - Best Financial Business - The Green Insurance Co. (October, 2008)
• British Insurance Awards - Claims Initiative of the Year (July, 2008)

About Fortis

Fortis UK is a leading provider of award-winning personal and commercial lines insurance solutions in the UK. Fortis UK has two main divisions, manufacturing both non-life and life products, which are distributed through a range of channels including brokers, IFAs, intermediaries, affinity partners and the Internet, as well as various wholly or partially-owned companies (RIAS, Fortis Insurance Solutions, Affinity Solutions Ltd, Text2Insure and InsureTECH Systems).

Insuring in excess of 6.7 million customers and working with a range of partners, Fortis is recognised for delivering consistent and high-quality customer experiences. It employs almost 3,000 people with a head office based in Eastleigh and others in Belfast, Bournemouth, Gloucester, Haywards Heath, London, Redditch, and Stoke-on-Trent. In 2008, its non-life profit before tax and interest was GBP 76 million and its non-life GWP was GBP 760 million.

Press Contacts:

Fortis Press Office, Tel: 023 8035 2754, E: press.uk@fortis-uk.com