The results show that only one in every three intermediaries questioned are currently selling more general insurance products compared to this time last year and the remainder are selling the same amount.
Neil Hoare, Sales and Marketing Director at Pink Home Loans comments: “The results are surprising as I would have expected a greater proportion of intermediaries selling an increased volume of GI to try and make up income lost from the mortgage market. Figures currently floating about the industry suggest there is an increased demand for products such as unemployment protection, as the threat of redundancy becomes prominent in more and more industry sectors”.
Hoare continues: “Intermediaries may be reluctant to enter new markets - put off by additional training and changes in skill sets - however this does not have to be the case. Appointed Representatives should find out what training is available from their network and should also look to see whether referral services are in place to take advantage of. This is important if they want to be in a position to fulfill the needs of their clients, without them having to go elsewhere for mortgage related products”.
