LMI Group’s innovative IT department has taken the germ of an idea from Dr Allan Manning, clearly one of the insurance industry’s leading thinkers, and turned it into a useful tool. Under-insurance is a major issue on nearly every claim handled by the Claims Services team at LMI Group, and yet, to explain the risk an Insured takes when they do not fully insure, is not always easy.

The LMi Mobile Under-insurance Calculator (currently available for iPhones, with other versions to follow) allows the broker or insurance adviser to calculate the penalty a client risks in a partial-loss situation, in just two screens. Simply enter in the relevant figures, hit the button, and the amount of a partial-loss that an Insured will be paid and, more importantly, the amount they will have to fund themselves, is calculated and clearly displayed. "It is just such a simple and highly powerful tool", said marketing guru Michael Harrison of Strategies Plus.

The app also has a second purpose; it includes a ‘hot’ button that activates a call to LMI Group’s emergency 24-hour claims hotline.

To download the app to your iPhone, use Apple’s Safari browser and go to www.LMIGroup.com/m/. When you have this loaded, hit the ‘+’ symbol on the bottom of the screen, and there you have it.

This is the first of many such apps for the insurance industry that are currently under development by LMI Group. Similar apps for other smartphones are in production and will be released soon. As they say in the classics, "watch this space".


Instructions for how to use this app can be found here.