Pink Home Loans received a record 37.3% increase in applications for life insurance provider LifeQuote as compared to January 2007.
Furthermore application business levels have increased by some 133.6% since January 2006.
It appears from feedback that the state of the current mortgage climate may be having a positive effect on life insurance business levels, as a recent Pink Survey revealed that 43% of respondents are selling more life insurance products as a result of the liquidity crisis.
The remaining business areas that intermediaries of Pink feel have increased, following the credit crunch, are general insurance business and conveyancing.
Neil Hoare, associate director of marketing & IT, says: “The Pink Survey results show that the current market conditions are having a positive impact on other income sectors, with life insurance having the largest increase for Pink’s intermediary customers.
“In the case of life insurance, I would suggest that this is a combination of intermediaries actively looking for business to supplement their mortgage incomes, given that the housing market is experiencing a challenging start to the year, as lenders review their risk models and margins”.
Richard Verdin, sales and marketing director at LifeQuote, adds: “We are delighted to see our business levels with Pink increase, as we have worked hard to provide our customers with high quality service and a simple life insurance sales procedure. We look forward to continuing our relationship with Pink and seeing business levels increase furthermore in the future.”