Assurant Intermediary has said that a survey amongst 2,000 UK mortgage brokers and intermediaries shows that 28% see the internet and aggregators as one of the largest threats to their business.
On average, 91% of those who responded to the survey currently sell Buildings & Contents, Landlords, Tenant Contents, Legal Expenses, Home Emergency, Critical Illness, or Life insurance, but just 20% on average take the opportunity to cross-sell general insurance products that are more difficult to compete on, such as travel or pet insurance. As a result, brokers are missing out on valuable revenue, Assurant says.
As a result of these findings, Assurant Intermediary has created a link to Protect your bubble.com, a website offering a range of general insurance products.
Assurant Intermediary says a link to Protect your bubble.com gives intermediaries an opportunity to compete with the comparison websites for this type of product, as well as the ability to offer quality insurance products to customers inexpensively and efficiently.
Kevin Paterson , sales and marketing director for Assurant Intermediary, said: “Competing with the comparison websites on price has been a major barrier in the past. This link provides an opportunity for intermediaries to consider all general insurance products as part of their portfolio. And we know that the appetite is there for these products – for example only 16% said they currently offer pet insurance
