Increase your Business Stability with GI
July 2010
The signs that recovery is on its way look likely to fade following the sadly unavoidable public spending cuts that are likely to have a knock on effect on the private sector. So, with mortgage income looking like it will remain unpredictable, how do you help maintain your business stability?
Why Sell GI?
If you're not already selling GI, not only are you missing out on a valuable revenue stream but you may also lose your clients to the competition that do!
Developing a book of Home Insurance and ASU Cover is therefore not only a great way to embed value in your business, but can also help develop your client relationships by enabling you to offer them additional products and services, now and in the future.
How to Sell GI
With increased competition from the direct providers and online comparison sites, clients need to be sold the value of your advice.
With clients not initially seeing the benefits of seeking financial advice on their insurance, many people these days end up searching online for the 'cheapest' cover not realising that Home Insurance isn't all the same and 'bargain' insurance doesn't always provide the cover they need.
This is where intermediaries need to start changing perceptions in order to better protect their clients, whist also protecting their business with a recurring revenue stream from GI.
Price comparison websites can't give your clients the same personalised service you can. They can't take into consideration particular individual circumstances, advise if there are any particular exclusions the client should be aware of, or confirm that the cover they've chosen meets their specific requirements.
Product Knowledge
Of course you also need the knowledge to be able to sell the benefits of a Paymentshield home insurance or MPPI policy to your clients and our Broker Toolkit is designed to help you do just that.
This sales support pack, which is available online or on request from your regional BDM or Telephone Account Manager, contains product information, FAQs, sales process examples and tools and guides to develop cross selling campaigns to your existing client bank.
If you're still held back by the fear of the unknown then speak to your local Paymentshield BDM who will be happy to talk through our products with you.
Price Matching
So why not ask your clients that although they may be able to get a cheaper quote elsewhere, can they be sure that the policy meets their needs? Ask them to put a price on their peace of mind.
To make things easier for you we've have extended our Price Match through 2010 meaning that if our BestQuote pricing doesn't already beat the price your client is currently paying elsewhere, for eligible clients we'll reduce our premium by up to £85 and then beat their current premium by £1 per month.
If you would like to talk more information, please call our Broker Support Team on:
T: 0845 0615 100
E: brokers@paymentshield.co.uk
Lines are open:
8.00am - 7.00pm, Monday to Friday
8.00am - 1.00pm, Saturday
This page is intended solely for the attention of Directly Authorised or Exempt Firms as defined by the Financial Services Authority.