With immediate effect, IFAs will have access to quotations for Holloway Friendly Society’s New Classic and Classic Plus Income Protection plans. The launch takes the total number of providers on The Exchange’s comparative quote services to 28.
The Holloway Friendly Society is the second friendly society to offer quotations for its products through Exweb and this forms part of The Exchange’s commitment to ensuring Exweb provides IFAs with access to the most comprehensive range of product providers.
The addition of these products has been welcomed by IFAs. In a recent survey carried out on Exweb, 93% of IFAs agreed that the inclusion of income protection products supplied by Friendly Societies would be of benefit to them.
Despite their willingness to use such products, many IFAs remain unaware of the offerings of these specialist providers. Only 37 percent of IFAs said that they had previously considered using Friendly Societies for income protection. And 55 percent admitted that they were not aware of the specialist features available on these products, such as no occupational or gender loading.
David Child, managing director at The Exchange, said: “We are delighted that Holloway Friendly Society has chosen to offer quotations for its products via our portal. We aim to ensure that our service is the most comprehensive available to IFAs, both in terms of product and provider coverage.”
David Macgregor, chief executive of Holloway said:"Holloway Friendly was the first provider of disability insurance in the UK and has been established for over 120 years. Last year we were the first Income Protection provider to offer full online trading and therefore, as a Society renowned for its ability to innovate and be at the forefront of new initiatives, we are really looking forward to further promotion of our unique IP contracts via Exweb."
