Paradigm Group has launched a new proposition, Paradigm Protect, designed to offer a comprehensive range of protection products to advisers who already operate in the sector or who are looking to develop their client offering to include protection.
The advisory and mortgage services proposition believes the market for protection continues to offer “great opportunities” for advisers wishing to ensure clients are fully covered in the event of death or illness with the ‘Protection Gap’ continuing to widen.
Product categories catered for by Paradigm Protect include basic term assurance, whole of life policies, critical and serious illness, income protection, family income benefit, general insurance, impaired lives policies and cover for the over-50s.
Headed up by head of protection, Mike Allison, Paradigm Protect allows advisers and brokers to fulfil all their client’s protection needs through one single portal. The Paradigm Protect website helps advisers to pinpoint which providers operate in the product areas they are interested in. There is also support material available online.
Providers include Ageas, Aegon, Aviva, Bright Grey, Exeter Family Friendly, Friends Life, Legal & General, PruProtect, Scottish Provident, Shepherds Friendly, Skandia and Zurich, to name but a few.
Users of Paradigm Protect will be offered access to either a restricted or whole of market panel.
Future plans include the development of additional protection product lines such as medical insurance and Group Business cover as well as an evolution to the business to consumer-based technology.
Bob Hunt, chief executive of Paradigm Mortgage Services, said: “We have spent a considerable amount of time and resource putting together a protection proposition which will appeal to existing protection advisers and those looking to make a considerable splash in this marketplace. To do this we have worked very closely with a large range of providers who all recognise the benefits that Paradigm can bring in delivering a one-stop shop for advisers and their clients.
“We have established both a whole of market plus an elite choice panel that offers advisers a full range of the different product options available, ensuring that the commission terms we offer compete exceptionally well in comparison to other distributors. At the same time we are supporting our users with marketing, IT and compliance support in order to make sure they are seeing the full benefits in providing protection advice.
“We fully believe we have a proposition that will add value for users and that advisers active in the protection space should seriously consider Paradigm Protect in order to maximise the range of products available to their client and to secure the best support and terms they can.”
