Insurance provider Uinsure has launched dual initiatives focused on remortgages and product transfers, offering two years’ commission upfront for advisers, and to pay any policy cancellation fees for clients.
The initiatives are aimed at supporting advisers and clients to deal with the high number of remortgages and product transfers proceeding during the COVID-19 crisis.
Advisers will be able to receive the first two years of their commission, at an average of £144.20, for new Uinsure general insurance (GI) policies upfront.
For the third year of the policy remaining active it will revert back to the normal commission arrangement.
Where advisers determine that it is in the customer’s best interests to switch to a Uinsure 5 Star policy, the company will pay the client’s cancellation fees if they are charged by the current insurer to end their policy.
Uinsure has also recently introduced a complimentary financial services tech support programme to help businesses navigate remote working, and an initiative rewarding NHS workers with £30 cash back on their GI policies.
David Smith, chief innovation officer at Uinsure, said: “These are unusual times that we’re in right now, this new normal is taking time to adjust to.
“We’re here to make this normality a little easier for our dvisers and their clients alike, and ensure that through all pulling together, we will succeed and get through to the other side.”
Smith added: “This will really help advisers who are focusing on remortgages and product transfers during this lull in new mortgages and support their clients by paying their cancellation fees.
“I’m really proud that we have brought this excellent support to the market.”