The Professional Adviser Alliance, the UK-wide alliance of intermediaries that provides independent mortgage advice to moneysupermarket.com customers, is cutting the price of its term assurance leads by 30% from £50 each to £35.
The move comes after independent research confirmed that term assurance leads generated by the PAA were of good quality with a conversion rate of 24%.
The research, carried out by Mintel, also examined how ready potential customers were to receive the intermediary's call. From this, 40% of leads were found to be key target – expecting a call and were ready to discuss their needs – whilst an additional 26% were primed but not quite ready to do business.
The PAA was launched in May 2002 and receives thousands of mortgage, term assurance and pension leads each month. These come from the moneysupermarket.com comparison tables, used by consumers on over 90 different UK websites, search engines and digital TV channels, combined with the effective pre-vet and qualification process.
Mortgage advisers participating in the scheme can cap' the volume of leads they wish to receive or suspend leads if they are ill or on holiday.
Stuart Glendinning, director of PAA, says: “By offering brokers cut-price term assurance leads alongside mortgage leads, PAA continues to provide great new business opportunities for all types of intermediaries. Term assurance leads benefit from speed in terms of sales and commission receipt.
“The PAA is expanding and it is recruiting intermediaries that know the term assurance market and are capable of delivering quality advice that will benefit the customer. This expansion has been fuelled by the increasing demand for advice from consumers purchasing term assurance via moneysupermarket.com and its partners.”