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Paymentshield launches adviser referral proposition

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1 day ago

September 18, 2024

Paymentshield launches adviser referral proposition

Paymentshield has launched a referral proposition to help advisers protect more clients.

The proposition has been developed to empower advisers who are time poor or don’t have GI permissions but still want to ensure their clients receive quality insurance protection for their home.

It enables advisers to either refer clients to a team of Paymentshield’s in-house insurance specialists to receive advice on a chosen date and time, or provide an instant automated quote to clients by email or text.

The automated quote, which is available for both Paymentshield’s Home and Landlord’s Insurance, also enables clients who begin an online journey to still speak to a member of Paymentshield’s referral team if and when they need advice.

Paymentshield said the proposition, which was trialled with select partners, has enhanced the online journey with positive results.

It saw strong conversion levels of 20% during Q2 2024 – well above those that are typically seen online.

It added that advisers are also able to track referrals via a new intelligent user interface, which separates both telephony and online referrals into key milestones.

The new proposition will be supported by Paymentshield’s “Refer and Protect” business development team, which will help those firms who could benefit from embedding a referral approach within their business.

Paymentshield has also announced the launch of two additional technology solutions.

The first is a new API integration capability that offers Paymentshield partners the ability to integrate the referral service into their own platform or CRM system.

This solution saves advisers time by enabling them to quickly transfer all customer data already captured in their CRM while still allowing advisers to select the referral experience the customer prefers on a client-by-client basis.

In addition, Paymentshield has created new capabilities to enable firms to embed insurance journeys into their own customer-facing web platforms to cater for clients who prefer an online only service.

Paymentshield distribution director, Emma Green, said: “The launch of Refer and Protect is the latest addition to the range of support and technology we provide to the intermediary market.

“With the Consumer Duty having brought the need to avoid foreseeable harm to the fore, many advisers and distributors are focusing more on general insurance and ensuring it is offered in a way that enhances the customer experience.

“Our new automated quote and integration capabilities mean we now have an array of options that can help advisers efficiently accommodate their customers’ insurance needs and preferences while also growing their business.

“This launch is all about empowering our partners to ensure they can seamlessly and digitally protect every single one of their clients when they don’t have time to do it themselves.”

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