Hitachi Capital has launched a website that enables brokers to sell mortgage payment protection insurance direct-to-consumers.
Richard Amphlett, head of business development at Hitachi Capital, says: “The mortgage payment protection insurance market, especially for those products sold by lenders, is still having a rough time”
“With the ongoing investigations that payment protection has been getting, it is important that consumers are given major levels of comfort when looking to purchase payment protection insurance.
“Despite the brush that has tarred MPPI (in many cases unfairly) there is still huge demand out there for a product that provides fair and good value cover, particularly as economic uncertainty looms.”
“Many more MPPI purchases are taking place on the internet, particularly now that consumers’ trust in lenders own products is at an all time low.
“Customers of today want value for money and the ability to browse through the options. The internet is the ideal way to do that.”
“Indemnity commission is also available and our promise is to pay commission for the policy’s lifetime.
“In addition, our partners will choose the level of commission that they take, allowing them to control the pricing of the products and test market response with different offers.”