General Insurance provider Paymentshield and referencing firm Goodlord have extended their partnership agreement for a further five years.

Under the agreement, which began in 2016, Goodlord will maintain its status as a Paymentshield partner and distribute tailored products for tenants, including tenants’ contents and tenants’ liability insurance.

In the five years the two organisations have been working together, Goodlord has grown to become the UK’s second biggest referencing firm.

In January 2021 Paymentshield added LV= to its tenants’ contents insurance panel alongside AXA, UK General and RSA.

Tom Mundy, COO of Goodlord, said: “We have our sights set on becoming the UK’s biggest referencing business and to do so, we need to be supporting letting agents, landlords and tenants with market-leading products and services. Paymentshield fits that bill by not only providing a high-quality product with an unrivalled panel of insurers, but also by backing it up with exceptional service.

”One of the key reasons the partnership has been so successful is Paymentshield’s approach to the lettings market. The firm combines technology and agile processes with its years of experience as one of the UK’s leading GI specialists.”

James Watson (pictured), sales director at Paymentshield, added: “Goodlord truly understands the lettings market, as evidenced in its outstanding growth rate over the course of its relationship with us. By leveraging our innovative tech systems and API capabilities, this partnership has been able to enhance relationships between letting agents, landlords and tenants and ultimately, to deliver greater value.

“Like Goodlord, we have grand ambitions to grow our foothold in the lettings market and to continue helping insure customers that have traditionally been underserved. We believe that this partnership is a true alignment of values that will see both firms realise their growth goals.”