GI provider Paymentshield is encouraging advisers to plug in to its ‘enhanced’ Home Insurance proposition.
Paymentshield’s Home Insurance average premiums reduced by 15% during 2014 and Zurich and Axa were recently added to its panel, so most of the top 10 UK home insurance providers are now represented on the Paymentshield panel and more high profile insurers are expected to join during 2015.
Lee Mooney, product and marketing director, said: “Paymentshield has always had a very strong reputation for the quality of its product and for providing great service to brokers and customers alike.
“To maintain this high level of quality and still reach an average price point that is almost £60 lower than this time last year is unprecedented.
“Having a 5* Defaqto product is not enough – we know we need to support advisers with great prices too. Over the last year we’ve invested heavily in market leading pricing capabilities and, together with the addition of a further two high quality insurers to our panel, we have been able to make our proposition even more compelling.”
At the end of 2014 Paymentshield updated its quote screen to be able to show all returned prices from each of its panel insurers not just the lowest one.
Mooney said: “We’ve listened to what advisers have told us and understand there are certain situations where the customer may want to choose a certain brand with which they are familiar rather than just go with the lowest price.
“Our new ‘aggregator’ style results screen means the customer will recognize many of the insurer logos that they would find on the first few pages of results from a comparison site, and they can now make a choice based on brand as well as price, just as they could online.
“What’s more, with our average price falling so much over the last year any difference between a Home Insurance quote online and one from Paymentshield now really starts to come down to the value of the advice being given. Professional advice on Home insurance remains an extremely valuable service for very many clients who need help to avoid the pitfalls of buying online where levels of cover, policy excesses and the breadth and quality of a product are by no means consistent between different insurers.”
From January Paymentshield will be running a new campaign to inform advisers about the major enhancements to its Home Insurance proposition. New and existing advisers will be able to request a consultation with one of Paymentshield’s business development managers to ‘plug in’ to Paymentshield’s proposition.