Already launched to network Mortgage Intelligence, the insurer will be launching the service to the directly authorised market and it is about to sign a HNW white-labelled partnership with a major affinity partner.
The insurer told Mortgage Solutions further details are expected to be announced in the next few weeks. This follows the launch of the High Net Worth division with the appointment of director of private clients, Dave Probert.
A HNW white-labelled partnership means that the service will be launched in the Affinity partner’s brand, so brokers will be offering Berkeley Alexander’s service under the broker partner’s branding.
The benefits for brokers include an increase in income as well as looking after the customers to build up a closer relationship. This allows brokers to check in with customers each year to assess potential changes to their lifestyles.
Berkeley Alexander chairman Geoff Hall (pictured) told Mortgage Solutions there is no restriction for advisers: “We are giving advisers help to identify those customers which may need this service.”
Berkeley Alexander managing director Mark Hutchings, who has just returned to the insurer as part of its succession plan, explained that the insurer offers brokers flexibility for the renewal process.
He said: “Brokers can choose if they want the renewal paper to be sent over to the client at the end of each year, otherwise we will deal with it.”
Geoff Hall added: “If you have never had a claim, generally, you do not know if you are correctly covered. This is aimed at protecting customers’ lifestyles and guaranteeing the right level of cover.”