EARLY WARNING SYSTEM
USER GUIDE. START
This is not a consumer advertisement. It is intended for professional advisers only and should not be relied upon by private investors or any other persons.
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EARLY WARNING SYSTEM
CONTENTS.
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EARLY WARNING SYSTEM (EWS) FEATURES AND BENEFITS
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FREQUENTLY ASKED QUESTIONS
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GETTING STARTED
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Registration to adviser website Subscribe to the EWS
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SET UP/MANAGE SUBSCRIPTIONS
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SYSTEM LAYOUT
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Viewing reports Downloading reports How the report process works
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COMMON ISSUES
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How can I get more information about/register to the EWS service? Why on some occasions, are cases not reported? Why aren’t my reports present? Why am I getting some policies with multiple premiums outstanding on my first EWS notification? Sometimes a policy will show one premium outstanding, then within a week more premiums are outstanding. Why is this? Why can’t Legal & General provide notification at ‘first bouncer’ stage, before the re-present? Am I able to reinstate Direct Debits online? Why are Direct Debits failing after I have asked for a reset? How flexible is the Legal & General collections system? What is an FRN? CONTACT US
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EARLY WARNING SYSTEM
SYSTEM FEATURES AND BENEFITS. The Early Warning System (EWS) is a free, secure, online subscription system that provides real-time information 24 hours day, seven days a week. The system provides a notification of policies that are in danger of lapsing, which may in turn result in commission being clawed back.
BENEFITS
This could be due to:
• Telling you of potential client, policy and commission losses and giving you the requirements to reinstate the policy.
• A bounced or cancelled Direct Debit. • Where the policy has lapsed. • Circumstances where the policy is cancelled from the outset (CFO).
EWS can assist firms to prevent the potential loss of clients and policies and the subsequent reclaim of commission along with the tools to reinstate the policy. Firms will also be able to assist clients in maintaining a continuous level of cover. Let our EWS help your business by:
• Emailing notifications up to three times a week and within 72 hours of policies in danger of lapsing. • Giving you secure online access with four weeks’ data always on view. • Downloading reports into MS Excel or database. This also ensures your clients receive a more personalised, enhanced service from you.
“EWS is excellent! It gives us real-time information that allows us to manage our clients to help them retain their policies (and safeguard their income and lifestyle outcomes). In addition, it gives us an opportunity to speak to our clients and re-state the benefits of what was originally purchased - that sometimes is forgotten.” Colin White, Director of The Mortgage Group (NI)
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EARLY WARNING SYSTEM
GETTING STARTED. Once you have registered, the site will provide you with access to various e-services: • Early Warning System – Help save your clients’ missed protection premiums • Contract Enquiries – View your clients’ valuations/policy details for bonds and pensions • Life Policy Enquiries – View your clients’ policy details for life policies • New Business Tracking – Track your protection new business applications • International Portfolio Bond Enquiries – View information on the fund value IPB policies • Collective valuations – Obtain valuations for collectives • OLP Connect – Our online protection quote and application system, giving you the ability to quote, apply and manage all your new business protection cases
To access the EWS you must first have a Legal & General agency number and be registered to the relevant Appointed Representative (AR), Directly Authorised (DA) or Adviser Centre website:
• Proposal Tracking – Subscribe for status updates on your electronic protection new business applications • Direct Debit – Reinstate your client’s Direct Debit.
• www.landg.com/advisercentre (for IFAs) • www.landg.com/network (for ARs and DAs) To register for the website, click on the ‘Register’ link on the homepage, then click on the ‘Register for Adviser/BP Centre’ link and follow the onscreen instructions.
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ACCESS LEVELS
ACCESS LEVEL DESCRIPTIONS
There are two levels of access, Standard and Super User.
Standard: Access to the website with either your own individual agency number or your company agency number. Everything you action online will only relate to the agency number on your registration.
You must choose the level required when completing the website registration process. The level is applied to your registration and can be amended post registration by contacting the Website Registration Team on the number on page 13 of this document. It is important to know and understand that Super User access will allow access to all business and agency numbers your firm has with us on all e-services.
When subscribing to the EWS you can enter an email address for the notifications to be sent to. The EWS subscription will only relate to the agency number on the registration, without the option to subscribe at any other level. Super User: Access to the website with either your own individual agency number or the company agency number. You will be able to access all agency numbers that are associated with your firm by the FCA number. When subscribing to EWS you can enter an email address for the notifications to be sent to.
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SET UP/MANAGE SUBSCRIPTIONS. It’s easy to subscribe and manage access to the EWS. Simply visit your relevant website (AR, DA or Adviser Centres) and click on the ‘Client Servicing’ link. Then click on the ‘Launch the service’ link under the section headed ‘EARLY WARNING SYSTEM’. This will take you to the EWS login page, where you need to enter your username and password, unless you’re already logged in. Once you have entered the subscription page you have a choice of options, each with a different heading:
EMAIL ADDRESS You must provide an email address to validate your subscription. This will be the address also used to send you notifications of missed premiums. You can register up to three email addresses, as long as each one is separated by a comma.
NOTIFICATION OPTIONS If you would like to be notified via email when your data is available, please tick the ‘Send me an Email’ box.
SUBSCRIPTION DETAILS Entering a start date allows you to specify when the report generation will commence. By default this will be the current date. The ‘Select FRN’ button will take you to a page where you can select which FRN(s) within your structure you wish your subscription to include/exclude (if applicable).
CHANGES You can make changes to the subscription details at any time. Simply log in and update the details as described in the Subscription Details section on this page. If the user of the subscribed email address leaves your firm you will need to change the subscribed email address to continue to receive the notifications.
The ‘Select Agencies’ button will take you to a page where you can select which agency number(s) within your structure you wish your subscription to include/exclude (if applicable).
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FRN AND AGENCY DETAILS An FRN is a Firm Registration Number provided by the Financial Conduct Authority. You will need an FRN to access the EWS. It is important to remember that as a standard user you will not get the option to choose which level to subscribe at. The subscription will default to the single agency number on your registration. Only a Super User will be able to choose to subscribe at either firm (FCA) level or for specific agency numbers, using the Select FRNs or Select Agencies buttons. If you select Super User, do not use both options as one overwrites the other. Please indicate which FRN(s) or agency number(s) you would like to include in this subscription by selecting or deselecting as required. Please note, if the required FRN(s) or agency number(s) does not appear in this list please contact the help desk via your usual process. If you want any firms subsequently added to the FCA register (which form part of your organisational structure) to be automatically included in this subscription, use the tick box to indicate this. By default, all the selected FRN(s) or agency number(s) information will be presented in a single report. However, you can choose to have a separate report produced for each FRN(s) or agency number(s) as required. If there is more than one FRN(s) or agency number(s) within your structure, we recommend that you use the defaulted single report although it might be useful to use this option if you want to pass a report onto each discrete firm.
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FIRM DETAILS This option allows you and all your advisers who are registered to use our online services access to the reports generated for your firm.
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SYSTEM LAYOUT – Key areas and functions. VIEWING REPORTS 1 – Select ‘View Reports’ from the menu bar at the top. 2 – Click ‘Early Warning’ link in the ‘Service’ column to download the most recent missed premium notifications. 3 – Click ‘View’ in the ‘Details’ column to see notification reports for the last 12 weeks.
Menu Bar
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Help
Hyperlink
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DOWNLOADING REPORTS
HOW THE REPORT PROCESS WORKS
When selecting to download a report you will be presented with the standard Windows download options; either ‘Save’ or ‘Open’.
There are various scenarios that affect the point at which a policy is reported on an EWS report. The majority are covered by two processes. A missed Direct Debit due to a manual removal of the Direct Debit on the policy, and the automated Direct Debit removal process.
FORMAT TYPES AND DATA CONTENT Your data is available in both:
MANUAL DIRECT DEBIT REMOVAL
• HTML so you can view your information on screen.
A manual Direct Debit removal is where the bank has notified us but the system has failed to update automatically, so human intervention is required to initiate the Direct Debit removal. If the Direct Debit bounced due to the manual removal of the Direct Debit on the policy, a letter will be issued to the customer, resulting in arrangements being made to clear any outstanding debit. If the arranged debit then bounces, another letter may be issued to the customer and the policy will appear on the EWS. Six weeks later, if the arranged debit is still not resolved another letter will go to the customer. A further six weeks without resolution, then the policy will lapse and appear on the EWS for the second time.
Or • Comma Separated Value (CSV) so you can exchange data between desktop applications such as MS Excel and MS Word. As already noted, the HTML option is a subset view of the data available in the CSV file. The table below shows what is available in each: HTML
CSV
Client
Master Agent Numbers
Last Full Premium Paid
Agent Number
Net Premium
Policy Number
O/S Premiums
Client Name
Clawback Due
DOB
Clawback Date
Address Line one
Policy Start Date
Address Line two
Off-Risk Date
Address Line three
Seller Name
Postcode
FRN
Policy Type
Reinstatement Requirements
Policy Number Policy Type FRN/Agent Number Seller Name O/S Premiums Warning Type Clawback due Off-Risk Date
Warning
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AUTOMATED DIRECT DEBIT REMOVAL An automated Direct Debit removal is where the bank has notified us and the system has updated automatically. Where possible an automated re-present for the bounced Direct Debit will take place two weeks after the initial bounce. If this fails, the Direct Debit details will be removed, a letter is issued to the customer and the policy will appear on an EWS report. Six weeks later, if the Direct Debit is still not collected, another letter will go to the customer. A further six weeks without resolution, then the policy will lapse and appear on the EWS for the second time. PLEASE NOTE THAT THE ABOVE TIMESCALES COULD VARY BY UP TO TEN DAYS DUE TO BANKS HAVING DIFFERENT PROCESSING TIMES.
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EARLY WARNING SYSTEM
COMMON ISSUES. REPORTS NOT INCLUDING ALL FRNS IN THE FIRM STRUCTURE
NO NOTIFICATION EMAIL RECEIVED
This will be where a Super User is subscribed at FCA level, but has not ticked all the boxes for all the relevant FRNs in the Select FRNs section of the subscription. Once the user has updated this section the next run of reports will include the newly selected FRNs. This fix is to be carried out by the user as subscriptions cannot be updated by our staff.
Assuming the reports have generated successfully, then it’s most likely that the email address in the subscription is incorrect (possibly for someone that has left the company etc.). The user simply needs to log in and change the email in the subscription page. This fix is to be carried out by the user as subscriptions cannot be updated by our staff.
REPORTS AT AGENCY LEVEL RATHER THAN FRN
CLAWBACK SHOWING FOR A POLICY EVEN THOUGH IT WAS TRANSFERRED TO ANOTHER AGENCY
This will be where a Super User has clicked on Select Agencies, instead of Select FRNs when completing the subscription. Once the user has gone back into the Subscription and selects the Select FRNs option, the next run of reports will be at FRN level. This fix is to be carried out by the user as subscriptions cannot be updated by our staff. Alternatively, it could be that the user is set to standard when they were expecting to be Super User. To update the user’s access level, contact the Website Registration Team.
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EWS will show the details on the report for both the original selling agent and the current servicing agent. The original selling agent will have a clawback amount as they were the agency to receive the initial commission. The report for the current servicing agent will show a clawback as £0. No action is required here; the system is working as expected.
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FREQUENTLY ASKED QUESTIONS. HOW CAN I GET MORE INFORMATION ABOUT/REGISTER TO THE EWS SERVICE? To get further information on the EWS please contact your Legal & General account manager or visit the following website: www.legalandgeneral.com/ews
WHY, ON SOME OCCASIONS, ARE CASES NOT REPORTED? Cases will not be reported by EWS for the following reasons: • Policies where notification of death or surrender has been received. • Direct Debit Bouncer and Direct Debit Cancellations for non-live policies and policies that have reached the end of their term. • Direct Debit Bouncer entries that will be reset to ‘re-present’ – this refers to Direct Debits that are returned as unpaid for the reason ‘refer to payer’ which we are able to re-present to the bank.
WHY AREN’T MY REPORTS PRESENT? Reports can sometimes be delayed if the processing does not run on schedule, for example over Bank Holiday weekends.
WHY AM I GETTING SOME POLICIES WITH MULTIPLE PREMIUMS OUTSTANDING ON MY FIRST EWS NOTIFICATION? This can be due to a few reasons: 1. If you forward policy date or forward collection date, by the time the bank has confirmed that a Direct Debit has failed, the arrears will include the back premium and the current premium (covered by real-time collection). Forward dating means that the policy is always paying in arrears.
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2. In some circumstances, it can be made worse where there is a delay from the bank notifying us (some banks take longer than others). We do have instances where the re-presented Direct Debit can take 14 days plus time to let us know. EWS then picks up this information in its three times a week notification cycle. By this time a whole month or more may have elapsed. Solution: Try not to set policies up with forward policy dates and collection dates. If a policy pays in arrears, by the time we are able to get initial fail info from the bank, a re-present takes place (up to ten working days hence), and then have a final fail communication back by the bank, it can move from one premium to three outstanding.
SOMETIMES A POLICY WILL SHOW ONE PREMIUM OUTSTANDING, THEN WITHIN A WEEK MORE PREMIUMS ARE OUTSTANDING. WHY IS THIS? A ‘Direct Debit Fail’ (Cancelled) notification and a ‘Direct Debit Bounced’ (unable to collect premiums) are two different notifications. We can get these communications from the bank and EWS will then notify, regardless of timing, when received. So, sometimes, if a Direct Debit has tried to collect arrears, has been re-presented and then failed, it could be trying to collect two, three or four premiums on that request. This could be rolled up premium arrears, due to the client asking for arrears to be taken via Direct Debit. Solution: Where the Direct Debit has not paid more than one month’s arrears, it’s worth using the Debit or Credit Card Payment for Arrears service. This can then collect outstanding premiums (via card, and bring the policy up to date) and then continue to collect normal, ongoing, premiums via the Direct Debit from the next month onwards.
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WHY CAN’T LEGAL & GENERAL PROVIDE NOTIFICATION AT ‘FIRST BOUNCER’ STAGE, BEFORE THE RE-PRESENT?
HOW FLEXIBLE IS THE LEGAL & GENERAL COLLECTIONS SYSTEM?
Up to 75% of initial Direct Debit failures go on to collect successfully. This means that there would be multiple notifications generated that would not need any intervention. Policyholders could be chased, which may then mean them speaking to their bank, unnecessarily. We believe this would have a detrimental affect on your client relationships.
Our collections system manages the collections of a majority of Protection policies. It has three ‘runs’ a week and is the program that feeds the EWS. It has to work to the BACS system’s banking rules and guidelines. With Direct Debits, there is a re-presentation rule that we must follow. ‘If a Direct Debit is presented and fails then a re-present must follow within 14 working days, this is implicit in the Direct Debit instruction completed/signed by the account holder’.
AM I ABLE TO REINSTATE DIRECT DEBIT’S ONLINE? Yes, using our Direct Debit reinstatement tool, found on our Adviser Centre:
WHAT IS AN FRN?
www.legalandgeneral.com/ddreinstatement
You will need an FRN to access the EWS. An FRN is a Firm Registration Number provided by the Financial Conduct Authority.
Please note: You can only use the tool if there are fewer than three premiums outstanding. If there are three or more premiums outstanding a Declaration of Health is required.
WHY ARE DIRECT DEBIT’S FAILING AFTER I HAVE ASKED FOR A RESET? A Direct Debit collection can only be successful if there are sufficient funds in the client’s bank account. If there is no overdraft facility and insufficient funds then a Direct Debit bounce will happen. Note that the request for arrears via Direct Debit can take up to three or four weeks from the Direct Debit details being sent to the bank. We are unable to request a specific collection date for this first collection. Solution: It is important that the client is aware that Direct Debit ‘resets’ will fail if multiple arrears are not able to be funded by the balance of the bank account. Combat this by using the Debit or Credit Card Payment for Arrears service. This may give a clearer and more timely update on the client’s desire to keep the policy (and bring it paid to date).
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CONTACT US. ADVISER/AR/DA CENTRE REGISTRATION ENQUIRIES
IT TECHNICAL QUERIES
For registration/leavers enquiries:
For systems access, problems or difficulties:
[email protected]
0370 050 0274 option two, then option two
0370 050 0274 option two, then option one
8am to 6pm, Monday to Friday.
9am to 5pm, Monday to Friday.
TECHNICAL UNDERWRITING ENQUIRIES
SPECIFIC POLICY QUERIES
0370 333 3699
For queries relating to specific policy entries on the EWS report please contact the Insurance Customer Services Team:
9am to 5.30pm, Monday to Friday.
[email protected]
PROTECTION SALES QUERIES
0370 010 4080
0345 273 0010
9am to 5pm, Monday to Friday.
9am to 5pm, Monday to Friday.
Call charges may vary. We may record and monitor calls.
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www.legalandgeneral.com Legal & General Partnership Services Limited Registered in England and Wales No. 05045000. Authorised and regulated by the Financial Conduct Authority. Legal & General Assurance Society Limited Registered in England and Wales No. 00166055. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered office for both firms: One Coleman Street, London EC2R 5AA Q0053316 10/15
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