Insurance and motoring assistance business, UKI Partnerships, will demonstrate a fresh approach to providing competitive insurance products for building society customers at this year’s Building Society Association conference (May 17-18).
Darren Whitaker from UKI Partnerships’ strategic growth team will be on hand in the exhibition hall at Manchester’s International Convention Centre to outline how the business can deliver competitive general insurance products to societies looking to grow revenue and brand loyalty.
The Leeds-based partnerships insurer has home insurance relationships with a range of financial institutions, including Nationwide Building Society, Prudential, Tesco Personal Finance, NatWest, First Active and MBNA – providing a range of services and facilities including underwriting, e-commerce, contact centre capacity and marketing support.
According to Darren Whittaker, UKI Partnerships can offer societies an alternative to the traditional ‘block’ home insurance scheme. “We will be talking to the industry about the advantages of our industry-leading rating capabilities and low cost-ratio to the point-of-sale.”
Whittaker added: “Our response to the issue for driving revenue for societies has been to develop a menu of options ranging from an improved block proposition through to an innovative e-commerce solution that delivers highly competitive products to the branch point of sale. This option is paperless and has offers major savings in overall costs and IT investment.”
“Feedback from societies suggests our approach meets the needs of a rapidly changing market. We offer a vehicle to capture and protect margins on existing block schemes alongside new industry-leading products capable of competing with the best direct products. This combination will help lenders protect and grow market share by improving mortgage sales penetration and offering competitive products to current account customers and savers.”
