Openwork advisers switch to new protection panel
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More than 200 Openwork firms representing 1,000 users have switched across to the network’s new protection panel, Openwork Select, following its launch in September.
The panel, which sits alongside Openwork’s existing single-tie proposition, features five providers - AEGON Scottish Equitable, AXA, Legal & General, Liverpool Victoria (LV=) and Zurich – which collectively account for almost 40% of the protection market.
More than a quarter of Openwork’s approx 750 firms have already become users of the panel.
Since its launch on 24 September, advisers have been able to choose between operating the panel and continuing with Openwork’s existing single-tie proposition.
Paul Shearman, mortgage, protection and general insurance proposition director at Openwork, says: “The protection panel represents a key element of Openwork’s drive to broaden and enhance its offering so I am extremely pleased that it has proved so popular with our advisers in the two months since launch. The implementation process has run smoothly and we look forward to building on this initial success into 2011.”
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