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April 27, 2020

Lombard International Assurance launches distance selling process

By Patrick Brusnahan

Lombard International Assurance has launched a distance selling process to provide support during Covid-19.

The solution is available across the firm’s 12 markets in Europe.

In addition, it is part of the company’s enhanced business continuity and servicing plans. This is a result of Lombard International Assurance’s network of brokers, agents, asset managers, private and custodian banks, family officer and wealth advisers are working remotely.

This solution enables subscriptions to new policies to be resolved remotely, in a fully compliant, secure and efficient manner.

Stuart Parkinson, group CEO, said: “During these unparalleled times, it is our absolute priority to be by our partners, clients and our colleagues side. As a global organisation we have adjusted our infrastructure and processes to ensure we continue to serve all our stakeholders. I’m really proud of the team who have delivered a new agile and innovative process in short order. The launch of this distance selling process across Europe is a formidable illustration of this effort.”

Jurgen Vanhoenacker, executive director sales & wealth structuring at Lombard International Assurance, added: “It’s fantastic to see our multi-disciplinary project team deliver this new process so quickly to support the needs of partners and clients.  This has been in direct response to many of our key partners’ concerns as to how to serve the needs of their clients within the current social distancing regulations, whilst delivering an efficient and user friendly experience to help protect and preserve their legacies.”

Lombard International Assurance deals with unit-linked insurance wealth structuring solutions for HNWIs, families and institutions.

Lombard International Group saw assets under administration (AuA) hit €48.4bn ($55.3bn), a record high, in 2019.

This was a 17% increase from the previous year and the rise was attributed to positive net flows and investment performance.

In addition, new business premiums set another record at €5.7bn, 25% higher than in 2018 thanks to highers sales in the US and Europe.

To read an in-depth business profile of Lombard International, click here.

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