Median has seen a 30% increase in enquiries this year and expects interest to continue to grow.
The division covers creditor/payment protection, term life and other finance related insurance and the range of services include:
- Developing niche product lines & offering bespoke insurance management solutions for the financial sector
- Unlocking the potential for additional insurance revenue from client companies’ lending & investment portfolios
- Auditing existing programmes – products, financials & delivery channels
- Managing tender processes
- Delivering innovative new product lines
Median is shortly to announce a major addition to the team to further strengthen resource and develop the business to meet increased demand.
Charles Coburn, Co-founder of Median Insurance said, “Demand for specialist brokerage support from lenders and financial institutions is on the increase as they see general insurance as an attractive additional revenue stream.
“The FSA regulation of general insurance since January 2005, has led to an increased focus on the role of general insurance in the mortgage process. While this is industry led, consumers seem to be responding positively too, which is further driving the demand for our services”.
This sentiment was echoed by Robert Owen, Chief Executive Officer of London Mortgage Company who said: “Lenders are increasingly aware of the benefits and additional income streams that general insurance products can present. Median offers a service that can deliver these benefits and has the expertise to back it up. Median’s increased focus on specialist broking and consultancy at this time would seem to be a sensible move for them, especially as they now benefit from Monument’s distribution network and complimentary expertise.”
