Paymentshield unveils Defaqto compare tool

Paymentshield has launched access to the Defaqto Compare Tool, giving advisers the ability to compare features between different home insurance policies.

The tool, which is available via the Paymentshield website, uses Defaqto Compare data to help advisers choose the right policy for the individual circumstances of their clients, rather than buying on price.

Defaqto has 60 analysts spending 400 hours a day monitoring the market to help inform better decisions. The firm assesses the features and benefits available on all policies and awards a star rating based on quality and comprehensiveness of cover.

James Loder, proposition director at Paymentshield, said: “Defaqto is synonymous with quality information and has awarded Paymentshield’s home insurance product the maximum five stars for the last six consecutive years, but we don’t rest on our laurels and so we are giving advisers the chance to compare policies for themselves.

“With the Defaqto Compare Tool now available on the Paymentshield website, advisers have access to the tools they need to have a conversation about general insurance every time they are arranging a mortgage for their clients. This can prove particularly useful for clients who are remortgaging as it provides an opportunity to review their wider financial situation and potentially provide them with a more suitable general insurance product alongside their mortgage.

“Just a few weeks ago we gave advisers a simple and accessible way of managing their client’s entire general insurance journey, with the launch of our new Adviser Hub and we will continue to set new standards, making it easy for advisers to make general insurance an integral part of their business.”

Earlier this month Paymentshield launched its Adviser Hub, which gives advisers greater visibility and control over quotes, renewals and cancellations, as well as delivering a personalised GI dashboard.