To help energise your business while purchases and home moves are impacted by COVID-19, we’re offering an average 22% discount on our Home Insurance pricing for remortgage, product transfer, and equity release clients.
Research we carried out earlier this year shows nearly half of advisers (47%) admit to missing opportunities to sell general insurance. When it comes to remortgage and product transfer clients this is because of either renewal dates not matching, cancellation fees, or simply because clients believe their existing policy is meeting their needs. Combining our new pricing discount with our 3-month payment holiday, engineered to help reduce the burden of cancellation fees, and our Defaqto compare tool, engineered to help demonstrate the value of your advice, means you've a fantastic opportunity to engage your remortgage, product transfer and equity release clients in a conversation about their GI needs.
WHAT ADVISERS ASKED AT OUR VIRTUAL LAUNCH EVENT
The pricing discount is available to remortgage, product transfer and equity release clients who have completed within 90 days of the policy start date. Clients should be new Paymentshield customers who have not held another Paymentshield Home Insurance policy in the last 3 months. The discount is not available to clients of purchase mortgages and Paymentshield reserves the right to withdraw the discount where it is being applied to purchase mortgage or existing Paymentshield clients.
The discount will be applied to the retail premium, excluding IPT and will be a 22% reduction on average.
We’ll apply the discount for your remortgage, product transfer and equity release clients to their quote shown on the price presentation screen. Unfortunately, the discount cannot be applied to our Quick Quote pricing as our Quick Quote tool assumes the quote is for a purchase mortgage. To ensure you see the discount for both your remortgage, product transfer or equity release client please make sure you select ‘remortgage’ when prompted to choose from the options in the mortgage category question. Quotes will be valid for 90 days if you select ‘yes’ to the ‘Is this insurance for a property that is subject to a new mortgage application?’ question
No. There is no change to the way your commission will be paid.
Yes. You can choose to use premium flex to sacrifice an element of your commission in order to reduce the price for the client even further if you wish.
Our standard renewal principles will apply meaning that we do not expect your client will see a ‘jump’ in their renewal pricing after year one.
We plan to apply discounts to remortgage, product transfer and equity release clients through to the end of the year. However, we reserve the right to change or withdraw the discount at any time.
THE 7 STEPS TO SUPERCHARGE YOUR GI REMORTGAGE SALES
To help you make the most of this opportunity, we’ve put together 7 easy to follow steps when looking to engage your remortgage and product transfer clients in a conversation about GI. The 7 Steps to Supercharge your Remortgage GI Sales eBook focuses on the remortgage market and provides help with the quotation process, discussing the policy and winning your client’s business.
Download your copy now and help light your path to growth!
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