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It was only last December when LifeQuote launched its customisable web-based service for adviser firms, and now the software provider reports a total of 60 intermediary businesses have incorporated the direct-to-consumer (D2C) protection platform on to their websites.
The adviser-branded comparison service enables clients to independently search, select, and purchase policies while intermediaries get paid full commission for the online transactions.
“Adding a D2C service is increasingly seen as an extension of an adviser’s offering rather than in conflict with their intermediated service.” said LifeQuote. “Data on clients that transact online also shows that they are happy to buy a range of policies, with premiums comparable to an intermediated service.”
As for brokers who have embraced the integration, their reasons include extending clients’ buying options – this being particularly true for those who want access to both advised and non-advised services. Another benefit cited is the ability to offer protection when either client or adviser time constraints hinder in-person interaction.
“As online becomes the default option for many products and services whether financial, retail, or government, it is critical that brokers retain their clients across all their products and services, if possible,” said Neil McCarthy, sales and marketing director at LifeQuote. “While face-to-face will be the preferred option for many mortgage and indeed protection clients, advisers must recognise that a small and increasing number of clients may prefer to transact some of their needs online.
“By providing your own service you retain the client, and importantly the income that goes with it.”
