The enhancements complete Paymentshield’s interactive offering by adding to the mortgage payment protection insurance (MPPI) and Paymentshield Mortgage Club calculators launched by the provider in May.
Brokers must enter the number of policies they currently sell per month into the calculator. They will then receive a breakdown of what they could potentially earn over the next five years, which will be displayed on screen. Brokers wishing to calculate their combined potential income for both MPPI and buildings and contents sales can do this through the GI calculator.
The enhancements are designed to encourage brokers to recognise the value of MPPI, Paymentshield said. Since launching its calculator, over 1,000 brokers have used the service, and the number using the site has increased by 15 per cent.
Commenting on the developments, Chris Traynor, sales and marketing director at Paymentshield, said: “During the past year we have made considerable enhancements to our web offering, demonstrating our commitment to brokers. The calculators complete the next phase of this activity, enabling brokers to see first-hand the potential income they could receive by offering clients this insurance.”
However, Simon Burgess, managing director of britishinsurance.com said more attention should be paid to product development. He said: “This is a gimmick and not much use to anyone. I’d rather see fewer policy cancellations and more innovation in product design and policies that provide greater value for my customers.”
