The Matrix has been designed to improve the service offered within the MPPI market and will enable lenders and brokers to provide a tailored service, specific to the client’s individual needs.
Providing over 253,000 policy combinations, The Matrix has been in development for over 18 months and has been designed to improve broker and client confidence in the MPPI market.
The Matrix is accessed through Assurant Solutions white-labelled software, Assurant Intermediary, which calculates the right cover according to individual customer profiles and needs.
Speaking at the launch, Ian Moffatt, sales and marketing director at Assurant Solutions, said the product would help the market regain its status as a viable and worthwhile sector. He said: “This product takes the flexibility and compliance of MPPI to another level. For the first time, it can be designed to suit the individuals needs, rather than forcing an individual to accept a ‘one-size fits all’ policy.”
He added the product allows brokers to clearly show they are complying with ‘Treating Customers Fairly’ (TCF) guidelines set by the FSA, as the client can set out exactly what they want.
Thomas Reeh, chief executive officer at blackandwhite.co.uk, which already utilises the system, said: “This development introduces a product that we believe is beyond reproach in terms of FSA, TCF and OFT requirements.”
Mike Pendergast, IFA at Zen Financial, welcomed the product and said: “I don’t think there’s anything like this in the market and I would definitely look into it. It moves away from the one-size-fits all approach.”
