One in six sales of UK protection insurance by financial advisers, price comparison websites and mortgage brokers are now through UnderwriteMe’s protection platform.
The platform surpassed the 100,000 policy milestone in July as it exceeded the whole of the business it sold in 2018.
Pippa Keefe, distribution director at UnderwriteMe, said: “The already time-consuming mortgage process makes protection insurance an unwelcome add-on, even though many mortgage customers would benefit from cover.
“The protection platform transforms the sales experience, making it fast and easy to access a comparison of underwritten premiums and complete a sale.”
Martin Werth, CEO of UnderwriteMe, added: “We have removed almost all the manual processes for advisers to review the market to make a personal recommendation and complete a sale.
“By decimating the time, we expect to deliver a gear change in intermediary profitability. It is great to see so many intermediaries recognising these benefits, registering and writing business with us.”
In June 2019, the mortgage network New Leaf and The Mortgage Alliance (TMA) club opened up free access to the Protection Platform to their combined memberships, totalling over 3,000 intermediaries.
Dan Hobbs, managing director of New Leaf., saidL “We truly believe that UnderwriteMe will transform the way New Leaf members write protection business. It has never been easier to write protection for New Leaf advisers and we are pleased to have formally launched with UnderwriteMe.”