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Intermediaries failing with buildings and contents add-ons: Assurant

by: Mortgage Solutions
  • 21/09/2009
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Mortgage brokers and intermediaries are missing out on vital income by failing to sell add-on covers to buildings and contents policies, according to general insurance provider Assurant Intermediary.

Kevin Paterson, sales & marketing director, at the firm, said additional covers to buildings and contents policies not only made a significant difference to the level of cover a client has in place, they could also boost an intermediary’s income.

“Many of the brokers we speak to are nervous about selling them. It appears that there is a chronic lack of understanding of what legal expenses, for example, does and does not cover. It is not surprising that if a broker is not confident in their knowledge of a product, they are not going to be confident in recommending it to their client.”
 
Paterson added: “We would encourage brokers to spend time building their knowledge so they are better placed to discuss their clients’ needs and identify which add-ons might be appropriate and which to ignore.”

“And if in any doubt, then they shouldn’t hesitate to get in touch with our team so we can help get them up to speed. Securing the right cover that will kick-in when their client needs it most goes a long way to helping client retention as well as generating a much-needed additional revenue stream.”

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