Our first year as LV= GI Intermediaries

First published in January 2023

It's been a whirlwind!

Christmas toy appeal

Our Head of Intermediary, Sarah Watts never has two days or two hours that are the same, as well being dedicated to all things LV= GI, she spends a lot of time focusing on driving our people to be their best, with coaching, support and providing leadership – we sometimes wonder where she finds the time (we suspect she’s powered by strong coffee in the morning and then tea the rest of the day!). 

Sarah wanted to take some time out to provide some insight into our first year as LV= GI for Intermediaries.

A reflection and a thank you

It’s been a whirlwind year for us after our launch in early 2022 and I wanted to take some time to reflect on the great things that we’ve all achieved.

Firstly, a big ‘Thank You’ to all our valued Advisers. It’s been amazing to see how the LV brand has been welcomed by you in the Intermediary channel, including how the strength of the brand has helped to increase advocacy and GI penetration overall.

There’s just simply no-one else or no other business that knows their clients like you do, which means you can fully assess and advise on their needs and tailor your advice and support.

I also wanted to say how proud I am of our people; their dedication and commitment has helped to really bring home that our heart really does set us apart. 

People powered performance

Our key achievements over the last 12 months include an increase in advocacy for the brand, the great products we offer and also being able to see our existing relationships go from strength to strength. But this year has not been without its challenges: the market conditions, the changing regulatory landscape, a cost-of-living crisis, as well as balancing this against the importance of consumer duty and how GI fits in with this – we know it's been tough for each and every one of us.

I'm really proud of our marketing campaign ‘People Powered Performance’ that launched us in the LV= GI brand and all that this stands for. It was really important to keep this focused on our people and our values. The team have worked incredibly hard to roll out the new enhanced product and provide support to all of our valued partners.

We’ve also built new teams – a Partnership Sales Team along with Regional and Agency Management Teams. They’ve gone above and beyond to deliver excellent service by providing a full adviser experience, with bespoke support and focus from start to finish. It’s definitely been key for us, as consumer duty really brings home the vital stance around advisors delivering all-round protection for their clients.  

One of my biggest highlights is hearing what you, our advisors, say about the LV= GI brand and specifically about how easy Smartquote is to use - combine this with transparency, quality products and competitive pricing, we know we’ve delivered an intermediary proposition to be really proud of: we offer a guaranteed quote (subject to the client meeting our usual assumptions), along with 0% interest for paying by Direct Debit, quotes being valid for 180 days and a reduced risk of non-disclosure. 

Helping you help your clients in 2023

We’ll continue to help you have the GI conversation at every stage of the Mortgage journey, but particularly around how this can be incorporated at the re-mortgage stage. Our focus will remain on providing the very best tools and support, offering bespoke training from our dedicated Learning and Development Team, along with enhancing our overall proposition. We know you’ve got your clients backs, so we’ve got yours.

We really want to elevate the importance of GI both from a consumer duty angle and helping you to future proof your businesses. With the cost-of-living crisis, it’s so important we continue to demonstrate the simplicity and transparency of our LV GI proposition, so you can offer the right product to your clients and potentially help them identify ways to reduce their outgoings, but fundamentally ensure they’re covered in the event of a claim.

All that’s left to say is I hope each and every one of you have a wonderful Christmas and New Year and I can’t wait to work with you all in 2023! 

Many Thanks

Sarah Watts
Head of Intermediary