Online discount life insurance and protection broker Cavendish Online has launched a white label service aimed at providing intermediaries life insurance and protection solutions for execution only and advised business.
The new service provides partner intermediaries with a fully branded customer journey enabling clients to complete a full quote and buy process culminating with the customer being presented with a comparison of premiums from a panel of life insurance and protection providers.
Companies currently using Cavendish Online’s white label solution for execution only and advised sales include Proactive Medical and Life and Money Shop Direct.
The Julian Harris network and Molyneux Associates with their direct ‘Cover My Family’ proposition’ are currently using the online execution only service. There are several other introducers and networks currently in development.
Ian Williams, managing director of Cavendish Online, said:“Our new white label service gives a variety of intermediaries the opportunity to add another income stream to their business with very little effort or specialist knowledge required.
"We have spent the last fifteen years developing and refining our execution only service and we are one of the leading online providers of life and protection products in the UK with the highest persistency rates in the country, market leading conversion rates and very high customer retention. The addition of the new UnderwriteMe service will further benefit customers with pre-existing medical conditions for whom finding the best value life and protection cover has previously been something of a lottery.
“We believe there are thousands of mortgage brokers and other advisers out there with customers who need life insurance and protection products but simply don’t have the time, the skills or the administrative support available to turn those opportunities into additional income.
"As such they are potentially letting thousands of pounds a year in extra income walk away, often to competitors and frequently to see their customers pay more for their cover than they would do if the broker introduced them to their own white label service."
