Select & Protect has claimed that over three-quarters of mortgage intermediaries anticipate selling more general insurance products in 2016.
The general insurance provider’s commercial director, Bruce Reid, explained that the firm wanted to check the pulse of the mortgage intermediaries who it works with to better understand how they’re feeling about business prospects in the New Year, and specifically how strongly the sale of general insurance products will feature on their business agenda.
He said: “It was hugely encouraging to learn that the majority of those we surveyed – 76.25% to be precise – anticipate selling more general insurance products in 2016. Given that the mortgage sales process is a lengthy one and that volumes of business increased last year, I was also pleased to learn that none thought they would do less GI business, while one in ten (11.25 percent) anticipate maintaining current general insurance business levels.”
The survey also asked intermediaries whether they are considering selling different general insurance products in 2016. While the majority (82.5%) said they weren’t, 15% said they were considering expanding their general insurance activity. Products under consideration included standalone legal protection and home emergency, rent protection, landlords’ policies, commercial insurance and motor insurance.
Reid added: “Perhaps the best figure from our survey was that an overwhelming 98.75% of our intermediary partners are not considering abandoning the sale of general insurance products! We’re looking forward to supporting them all in the New Year and helping those who want to expand their general insurance offering to fulfil their ambitions.”