The products will be available from July2004 and are based upon PlusOne Services’ EMBRYO white labelling and third party administration package.
Jason Graham, Managing Director of Mortgage Support Network comments,
“We have been looking to offer our members a quality buildings and contents and MPPI product that was backed by one of the UK’s leading insurers for some time.
The PlusOne package, with the support of Norwich Union Insurance, has enabled us to do just that. This unique branding offers our members quality products backed by quality underwriters. We will be able to start business in just a few weeks time and the start- up costs are very low. There is no immediate requirement for high volumes of business from members and the technology and administration support systems are first class.
We are very excited about this new venture as it allows us to develop our brand using tried and tested services and gives our brokers an improved service that will generate them a significant revenue stream for the future.”
Simon Hood, Chief Executive of PlusOne adds,
“Our service is aimed at those organisations which have decided to take on their own compliance in 2005 and wish to offer their own brand general insurance products.
We are delighted that MSN has decided to take on the EMBRYO system which enables them to utilise white label existing products which are supported by quality underwriters in Norwich Union Insurance. Mortgage Support Network currently provides a comprehensive mortgage service to over 1,000 advisers and intends to grow this even further during 2004.”
