Tenet’s leading position within the industry has led to the development of this panel of 5 top protection providers: Norwich Union, Friends Provident, Legal & General, Scottish Provident and Axa. This panel accounts for around 80% of the protection business already written by Tenet members and clients. Due to the volume of business Tenet places with these insurers, the Group has secured rates of over 200% API.
With just 5 providers on the Elite panel, advisers only need to deal with 5 sets of procedures, product ranges and underwriting requirements. By using Elite advisers can place all the protection business online guaranteeing faster underwriting and application processes with increased tracking accuracy.
Simon Hudson, Chief Executive at Tenet, said: “This Panel will appeal to the vast majority of our members and clients who can increase their income streams in a core business area, for what is in essence, less work.”
Ambrose McGinn Director of Abbey for Intermediaries said: “We are delighted that through Tenet’s Elite protection panel Scottish Provident will now be at the fingertips of over 3,500 advisers. The make-up of the panel means choice, quality and value for customers and that has to be good for everyone in our industry.”
Simon Clamp, director of UK distribution at Friends Provident, said: "We are delighted with this announcement. The Tenet Group is a major intermediary group and this agreement emphasises the strength of our overall protection proposition - product and service."
As a key distributor of financial services, Tenet also offers access to a wide and comprehensive range of providers, ensuring advisers can offer the best solution to their client whether it’s life, critical illness or income protection.
