CHAPTER 2: SOURCING SYSTEMS – GENERAL INSURANCE/PROTECTION

2.01 ADVISER RESEARCH

There is no consensus among advisers as to whether it is important that they can use a mortgage sourcing system to source general insurance (GI) and/or protection products.

While 27% believe it to be somewhat important, 42% of advisers believe to be either not so important or not at all important.

This supports the idea that levels of GI/protection sales from mortgage brokers are lower than they should be, a situation which does not help to close the so-called protection gap. It also suggests that GI and protection providers may not be fully articulating to brokers the importance of protection insurance to people taking out a mortgage.

Figure 2.01: How important is it to source GI/protection within a sourcing system?

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This data was collated in January 2021. Trek Publishing Limited accepts no liability for loss or damage to material submitted for publication.
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