Go On-line to Beat the 7 Day Rule
Added: (Tue Aug 24 2010)
Pressbox (Press Release) -
Highly competitive direct-to-public iprotectinsurance.co.uk are offering free bolt MPPI and short term Income Protection products to enable the intermediary to test if clients will visit their website and buy these products on-line.
It is a simple proposition. Because most IFA’s and Mortgage Consultants still doubt that they could direct sufficient customers /internet browsers to buy from their web sites, they will not invest in an on-line system. However, once the 7 day rule is imposed, not having these protection products on-line, will place them at a distinct disadvantage. Their clients can look on the web to get a quote during the 7 day period, if they go elsewhere the intermediary could lose them to a competitor.
Therefore iprotect offer to place their quote-and-buy link on the intermediary’s website. If this generates business the intermediary can judge whether it is worth developing further. Only a finder’s fee is paid by iprotect. However, it enables the Intermediary to retain that all important contact with their clients and enhance their website functionality at zero cost.
Sales generated will determine if there is a business case for the intermediary to further develop their website in terms of offering MPPI and Income Protection on-line in the future.
The iprotect brand is owned by the Wessex Group who have offered their Broker Lifestyle System to intermediaries for several years. If the iprotect affiliate ‘bolt on’ generates sufficient volumes, Wessex will be quick to respond by offering the intermediary their white label customer quote and buy system. This is the next generation of their current Broker Lifestyle product, fully branded, with bespoke deployment and supporting traditional commission. It enables customer s to buy on-line and, where required, the intermediary’s sales staff can simultaneously guide that customer through their on-line application. All other administration is handled by Wessex.
Testing the iprotect proposition - what is the process?
• Click on http://www.iprotectinsurance.co.uk/affiliates/affiliate-registration/ and register your interest in becoming an iprotect affiliate
• A full application follows and iprotect send through links to products. In addition to their logo, text and images for the Intermediary’s website can be supplied if required
• A standard TOBA is signed before on-line links are deployed and tested prior to going live
This process usually takes about 2 weeks. Thereafter monthly MI is sent by email in respect of the number a quotes, sales and finders fee paid etc.
For the intermediary, to test a quote-and-buy facility at no cost on their website, is certainly an advantage. Implementation of the 7 day rule remains a strong incentive. Wessex also see this as a way for them to establish a preferred list of partners with whom they would like to work as administrators in the future. Proven business volumes would enable them to offer the comprehensive support of their next generation Broker Lifestyle solution as a natural progression from their iprotect affiliate model.