Brokers with networks Intrinsic and Tenet and a few selected DAs have the option of earning a fee on GI sales to their customers by S&P’s telephony team.
S&P staff will manage follow up sales of buildings and contents insurance and other general insurance products where brokers either feel they have insufficient time to sell to new customers or clients on their existing database.
The scheme is designed to help brokers give a more holistic service to their clients as well as offering them an additional income from the sales generated.
S&P chief executive, Simon Hood, said: “Customer relationships are important to brokers and this is a way for them to broaden those relationships and earn some commission.
“The point isn’t to take over customer relationships from brokers but there are advisers that are missing a trick selling GI products to their clients.
“If they let those sales go clients will go direct to providers via aggregator sites or worse, to another adviser.
“By getting us to sell to their clients we are helping brokers retain those clients and opening up the opportunity for resale of those products in the future.”
S&P said once the pilot had “proved the concept works” they plan to roll it out to other brokers.
