New companies and broker offerings continue to come to market, with PlusOne Services offering own branded insurances to intermediaries, and new broker Clear Cut Mortgages (CCM) coming to life.
PlusOne Services – a subsidiary of Select & Protect – will offer life companies, IFA networks and mortgage clubs, own-branded buildings, contents and mortgage payment protection insurance.
The service will target those becoming directly authorised under the Financial Services Authority regulation. James Wallis, managing director of PlusOne Services, said: “We believe there is great potential for financial services organisations, which have decided to take on their own compliance in 2005, to develop own brand general insurance policies.”
CCM will focus on the remortgage market and is a telephone-based operation. Robin Tinsley, chief executive of CCM, said: “Our ambition is to take a substantial chunk of the UK mortgage broking market. With even the largest players accounting for a very small percentage of the overall market, there is an opportunity to launch a nationwide brand that capitalises on the fragmentation.”
Face-to-face advice will be offered through a partnership with the Zurich Advice Network while general insurance products will be available through Paymentshield.