Page 6 - The Pulse July 18

WHERE DO I START?

The Process is Key - Do it 100% of the Time.
GENERATING NEW BUSINESS

You can advise and sell household insurance yourself but not having the time or resource shouldn’t stop you making the
OPPORTUNITIES decision to offer your clients help with their cover. By putting a simple process in place, you can refer it in to Ingard who
will write it for you. It’s up to you but whatever you decide, make that decision and stick to it.

Protecting the Things That Matter Most
to You and Your Clients. Earnings Potential – Refer into Ingard Earnings Potential - Write it Yourself
If Ingard sell 4 policies a month from your referrals, by
If you sell 4 policies a month, by the end of year 5 you
the end of year 5 you could be generating an income of could be generating an income of just over £20,000* pa
approximately £8,000* pa – accumulated income over – accumulated income over these 5 years would be over
these 5 years would be over £25,000! ** £63,000! **

To calculate your own potential earnings visit - https://www.assurantforadvisers.co.uk/how-it-works/#tab-3
* The approximate income earned per annum is based on the commission earned less the individual’s compliance costs and is representative of the
average commission across the Network.
** Examples above show potential earnings based on four sales / referrals a month or 10 sales / referrals a month, both based on £100 average
commission with a retention rate of 85%.
“If I had my way, I would write “insure” upon the door of every cottage and upon the blotting book
of every public man; Because I am convinced, for sacrifices so small, families and estates can be Suggestion When Discussing Household Insurance for a New Property
protected against catastrophes which would otherwise smash them up forever.” Inform your clients that this is part of your service ...

Winston Churchill, Manchester, 23 May 1909 “I must look at your protection and insurance needs alongside any existing cover you may have in place and I will be
making a recommendation and providing quotes accordingly”.

The main reason your clients come to you is for your advice and assistance to get a mortgage; whether that be to Suggestion When Discussing Household Insurance for a Re-mortgage
buy their first home, to move to another property, for their re-mortgage needs or perhaps for an additional buy to let This is often a missed opportunity as the adviser may know (or assume) that the client already has cover in place BUT
property as a Landlord.
do they and is the cover suitable?
In any one of these instances, there will be a need to review, consider and recommend insurance to protect the clients Ask your clients for a copy of their existing household policy schedule as it wil be required for “lender and compliance
and their property. General Insurance is often an area that is overlooked when providing financial advice. Your clients purposes to ensure the correct cover is in place”.
may place their buildings and contents insurance with the mortgage lender, which might be an uncompetitive decision
in a highly competitive marketplace or buy their buildings and contents insurance online through Price Comparison This then gives you the opportunity to:
Websites, which may lead to the cover being compromised in favour of price.
• Spot potential gaps in cover
• From a lender’s perspective, it is bricks and mortar and they want security to protect the asset. • Ensure you are quoting “like for like”
• From a customer’s perspective, the house is where they and their family live and call home.
• See the premium the client is currently paying and who the provider is
A mortgage is probably the single largest debt/asset your clients will ever have so why wouldn’t they insure this valuable
asset and its contents and the memories within? Or compromise on the cover they need because they were not advised?
What to Do Next

• Talk to us!
Why Bother? • We are here to help you whether you want to write the business yourself
or refer it in to Ingard.
• As of February 2018, the average We’re underinsuring our homes • We can discuss your current process, imbed B&C into this
amount of ‘stuff’ owned by by a staggering £20,000! and help you generate income while covering your
individuals, at £35,000, is more client’s protection needs.
than the average annual UK salary The average UK home contains
(£27,000) £55,000 worth of belongings, yet on Protecting the things that matter most to you and
average we’re only insuring them your clients.
• Over a quarter of households for £35,000. That’s a huge £20,000
- 7.5 million - have no contents difference - and it’s an amount that
insurance could cause all sorts of problems if Web: www.assurantforadvisers.co.uk
you need to make a claim.”* Telephone: 03332 000 444
• So, possessions worth over £266 Email: advisers@assurant.com
billion are unprotected and at risk
£950 billion: the value of stuff *Mortgage Advice Service 26 July 2016
Your clients need your help! UK households own. Assurant is a trading name of Assurant Intermediary Limited registered in England and Wales (No. 4019801)
Registered office: Emerald Buildings, Westmere Drive, Crewe, Cheshire, CW1 6UN
Assurant Intermediary Limited is authorised and regulated by the Financial Conduct Authority 6