You can't afford to ignore MPPI

Unfortunately such stories have led the general public to confuse MPPI - which even the FSA has said is on the whole sold fairly - with PPI. It is up to the industry to clear this confusion and sell the benefits of MPPI to potential customers.

Because MPPI is a valuable security net for your customers, Paymentshield decided to gather your views and we're acting on them. Our market research agency looked at reasons influencing the sale of MPPI.

Although there has been a slight drop in MPPI sales across the market this tends to be a result of 'macro factors' that are beyond your control and ours.

These include:

• A slowdown of the housing market in general
• A change in general insurance regulation under the remit of the Financial Services Authority
• Regulation has meant sales of MPPI take longer and more paperwork is required
• Your perception that commission for MPPI sales is lower than other insurance

You told us a major factor was the impact of FSA regulation with 40% of you feeling you have less time to actively sell MPPI because there is too much paperwork and the overall administration process takes longer.

Nearly half of you attribute any decline in the sale of MPPI to the slow down in the housing market, leading to less demand for new mortgages and a heavier reliance on re-mortgaging.

As always we have listened and taken action.

We have launched a campaign that will run until April to encourage you to gain even more from your MPPI Sales pack.

This is now available to order online to help you educate your customers on the value of MPPI. This pack contains a customer sales leaflet, a poster, commission document and sales aide.

Find out more