General insurance provider Select & Protect is offering a 25% year one commission on all converted leads referred until 7 June 2014.
This incentive is designed to celebrate the re-launch of Select & Protect’s introducer service for mortgage brokers. The firm will take care of everything surrounding the insurance sale from start to finish, while the broker benefits from additional commission and ring-fences their product relationship with the customer.
Distribution director, Bruce Reid, said: “Feedback from many brokers that we work with indicates that implementing the new MMR requirements is impacting on the time they need to advise and sell general insurance.
“Having spent a significant amount of time on the mortgage application process it’s sometimes not possible or feasible for them to cover off home insurance and mortgage payment protection insurance (MPPI) requirements with the customer. The result is that many are postponing the sale. Some may even be inadvertently steering clients into the arms of other financial services providers that might have a different perspective of who owns the customer and therefore, offer the same financial services as the broker.
“No broker wants to give away valuable income – that’s why our Introducer service is a simple, effective solution. In less time than it takes to boil a kettle, the broker simply refers their client’s details on and they can trust us to take care of the sales.”
He added: “We don’t want brokers leaving valuable income on the table or worse still, leaving others to potentially exploit their client. Our Introducer service removes the legwork, delivers the broker an additional income stream while protecting their customer relationship and their customer gets quality cover that is right for them. It’s a win-win for all concerned.”