Richard Alger has been appointed as head of broker proposition at Paymentshield.
He will be responsible for improving Paymentshield’s offering to the mortgage industry, with a focus on ensuring that the provider’s growing adviser network is equipped to discuss general insurance with their clients.
He has over 30 years’ industry experience, having previously worked at Aviva within a number of disciplines including the evaluation, design and delivery of new scheme propositions.
The appointment comes as Paymentshield’s latest survey of advisers revealed that 22% are failing to offer GI because they don’t feel they know the products well enough. 17% said they want to sell insurance products, but don’t have the time.
Alger said: “I’m committed to ensuring that Paymentshield continues to deliver a proposition that enables advisers to make the most of each and every opportunity to grow their business. The research proves that brokers are keen to ensure their clients’ homes are protected, so it’s vital that we remain in tune to their needs and operate flexibly to overcome any stumbling blocks they may face.
“With a market-leading product, platform, marketing support and customer service team behind us, I’m confident that we can deliver an unrivalled proposition that makes it as easy as possible for advisers to have conversations around GI.”
Meanwhile, Paul Kelly will become head of lettings, focussing on developing this relatively new offering for Paymentshield, which it launched in 2017.
The provider supplies insurance products to the lettings market, including rent protection and tenant’s liability insurance.
Kelly will also be refreshing the provider’s landlord proposition with improvements including an increase in the maximum sum insured to £1 million, malicious damage covered as standard, the option to insure in the name of an individual or a business and the choice to add optional extras, such as landlords’ emergency and rent protection.
He said: “Over the last six months, we’ve partnered with a number of fintech companies with the aim of becoming a disrupter in the lettings space. With the number of people living in rented accommodation continuing to grow, it’s an auspicious market. My new role will allow me to focus on ensuring tenants have access to quality insurance products and that landlords and letting agents are able to protect their investment and earnings.”
Amanda Fox, proposition, digital and marketing director at Paymentshield, added: “Bolstering our resource in this team will allow us to identify opportunities more quickly and tailor our proposition to support advisers in the best possible way.
“It’s an exciting time for Paymentshield and I look forward to watching as our advisers grow their businesses with more confidence and speed than ever.”