PMS Mortgage Club and Sesame Network have launched a campaign encouraging advisers to quote protection and general insurance to every mortgage customer for 21 days.
The Rewire Routines campaign, which is open to all advisers to take part, is designed to reduce the protection gap.
Those wanting to get involved need to sign a charter committing them to quoting protection and general insurance for all mortgage customers from 4 June to 24 June.
Mark Graves (pictured), managing director at Sesame and PMS, said: “Our research has told us that 94% of advisers believe it is their moral responsibility to talk to their clients about their protection needs, so we know the desire is there.
“One of the ideal opportunities for advisers to have this conversation is when their clients are taking on debt in the shape of a mortgage.
“At a time when millions of people in the UK remain underinsured, or have no financial protection at all, we believe that advisers can play a pivotal role in bridging the UK’s yawning protection gap.
“We want the industry to join PMS and Sesame’s mission to address this society problem and make a real difference to people’s financial wellbeing.
“The charter aims to turn advisers’ feelings and intentions into reality by creating good habits, which ensure that protection is at the heart of every client conversation.”
For every adviser that signs up, the two distribution brands will provide a wide range of support activity and also donate £5 to the British Heart Foundation.
Those who have signed the charter will receive marketing support with customer-facing literature, including mortgage interview guides and protection disclaimers.
They will be able to attend ‘Ask the Expert days’ where they can meet providers to discuss any issues.
And they can access webinars hosted by insurance providers.
Graves added: “There are a variety of reasons why some advisers struggle with consistently providing protection advice, such as the underwriting process, time constraints and not wanting to overload the client with information.
“Whilst valid arguments, we believe it ultimately comes down to our advising habits. Our campaign will deliver daily support to help advisers cultivate good habits by building their skills and confidence.
“It will enable advisers to embed a consistent process, which educates clients about their risks and how to protect them.
“Our campaign is about delivering the financial peace of mind people need, which goes to the very heart of the integral role that advisers play in their customers’ lives.
“As a leading player in the advice profession, we are also committed to playing our part by working closely with other key players, such as product providers and lenders, to overcome obstacles, improve processes and drive efficiencies.”
PMS Mortgage Club and Sesame Network support 3,000 adviser firms.