Mr Ariyawansa says technological developments should help to improve the speed and accuracy of client transactions, an area in which he feels life firms have struggled in the past. 

On paper, this is perhaps the ultimate solution to the problem of back-book consolidators. Whether these businesses are willing to budget for such improvements is another matter.

“While some providers will now accept email requests, the digital signature is yet to gain a firm foothold,” Mr Ariyawansa says. 

“In order to prevent further dilution of service, I would encourage these providers to embrace technology and its efficiencies. By now it should be possible to get the necessary vital information at the click of a button.”