D&D Homecare is to launch its flexible building and contents insurance product at this year’s Mortgage Expo in London.The flexible nature of the product means home buyers can mix and match options to suit their needs rather than paying more for additional options. The company describes itself as a wholesaler, designing products for networks and brokerages which can either be marketed under own brands or D&D’s brand. Last year alone, it sold 30m in ASU premiums. D&D Homecare already offers a similar flexible accident, sickness and unemployment product but for the past 18 months it has been developing a BCI product. For example, people can choose to have it either sum assured or bed rated. Paul Thompson, managing director of D&D Homecare, says: “It’s revolutionary. This product allows the broker to provide for their customers’ needs. As we break them down into their component parts, with our products they choose the bits they want and offer relevant ones to to their customers. Typically, policy holders for BCI have fixed elements that may include things that they don’t want. For example, they might not want the option of having their possessions insured away from home but if it’s fixed that way, they’re stuck with it. With D&D’s BCI, home owners can choose what they want and the premium can be adjusted accordingly. Thompson adds: “It’s the same with our ASU. If you take our basic product, the combination of options you can offer is like making 54 products available to your clients.” The product operates offline and online so the moment the policy is uploaded you get instant acknowledgement and a copy of the policy schedule.
The recent FSA review once again shows that if firms write suitability letters there is considerably less chance of them falling at the regulator’s record-keeping hurdle, says Bill Warren
You can only please some of the people some of the time, and of course some people you can’t please any of the time. So when confronted with the dilemma of helping your children or helping yourself, where do you turn for advice? If you think about it, your clients are faced with the same […]
A major industry report on payment protection insurance by Advice UK reveals commission loaded, over-priced products and volume sales are combining to produce “endemic mis-selling” in the sector. Looking at the relentless drive for profits by the banks, the report accuses them of completely over- riding product suitability and affordability. One major problem is that […]
The Mortgage Times Group has is to develop its new online commission system, which enables intermediaries to get paid on completion for all lender direct cases. The online form can be found on the mortgages page of www.themortgagetimes.com under the Lender Direct tab. The Group already pays procuration fees on exchange of contract for all […]
By Denise Wond, Marketing Relationship Manager, Royal London Do you consider yourself lucky? I don’t; I never seem to win a prize in the raffle, if there’s a cancelled train it’s usually the one I’m meant to be on and don’t start me on last year’s holiday. On the other hand, when I think about […]
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