Paymentshield has unveiled an introducer scheme for mortgage advisers.

The initiative aims to offer advisers the means to support their clients with the purchase of general insurance, while retaining additional revenue streams for successful referrals.

Advisers can now digitally refer their clients to Paymentshield via their dedicated online portal whenever they either don’t have the time or are not confident to sell the product themselves. Paymentshield will, in turn, liaise with their clients to deliver a tailored insurance policy recommendation.

The scheme will allow advisers who make referrals the opportunity to earn up to 17.5% commission for every policy generated with their client.

Paymentshield claims that its track record of retaining four out of every five clients at renewal helps to provide advisers with a valuable recurring revenue stream.

James Watson (pictured), sales and marketing director at Paymentshield, said: “We know that advisers do a great job of finding the right mortgage investment for their client but sometimes that next step to protect that investment can be missed due to time constraints. By introducing to Paymentshield, we can do all the work on the adviser’s behalf and make sure that the client is properly protected whilst maintaining the continuity of an advised sale.

Paymentshield has launched the scheme to take the burden off advisers who for whatever reason don’t wish to manage the general insurance element of the mortgage process. By letting us have these conversations with their clients, it’s easier than ever to secure additional revenue while also retaining their business.”

The introducer scheme follows the creation of Paymentshield’s advised sales team last year.