Paymentshield has launched a new lettings offering, as it celebrates its 25th anniversary.
While continuing to focus on its core market of mortgage advisers, Paymentshield is expanding its offering to supply insurance products to tenants via the lettings market. Products available include refreshed tenant contents insurance, tenant liability insurance and landlord rent protection.
Rob Evans (pictured), managing director at Paymentshield, said: “In order to ensure continued growth, we’re partnering with a number of fintech companies with the aim of becoming a disrupter in the lettings space. With so many people living in rented accommodation now, it’s important that they have access to quality insurance products to protect their contents and that landlords have insurance to protect their investment and earnings.”
The first half of 2017 has seen the company enjoy a two record breaking sales months. Home insurance sales via its panel of leading insurers in March were the highest ever recorded since the panel launched in June 2012 but this record was then subsequently beaten by sales in June.
Since Paymentshield was founded in 1992, it has serviced over two million policyholders and now has active relationships with over 5,000 intermediaries.
Evan added: “Reaching the 25-year mark is a huge milestone for Paymentshield and we’re so proud of what we’ve achieved in that time. The fact that this year has already seen us break our sales records with insurers is the cherry on the cake and a testament to our strong proposition.”
The 25th anniversary comes in a year when Paymentshield has seen quotations for general insurance (GI) among mortgage advisers steadily on the rise with home insurance new business levels growing 22 per cent year on year.
These results follow the implementation of a number of new initiatives by Paymentshield, including the appointment of new insurers to its panel, the launch of a refreshed home insurance product, the introduction of a ‘three months free’ offer for clients going through a remortgage, and a change to its sales support structure.
Rob added: “We’re constantly looking for ways to improve the experience for both advisers and their clients. This includes making it easier for advisers to offer general insurance and we’re pleased that such quotes are on the rise and that more people are able to protect what matters most.”