Support services provider SimplyBiz has launched an online protection hub including compliance, training, outsourcing and research support.
The hub launch comes after the business saw an increase in the number of compliance and support materials downloaded from its site over the past 12 months, and more than 3,400 members attending protection events in the same period.
Martin Reynolds, chief executive of SimplyBiz Mortgages, said: “The most important element of the advice process is time spent with the client, exploring and establishing their objectives and needs; the hub was designed to provide access to all the key material an intermediary might need in one place, adding efficiencies and giving them back valuable time.”
Reynolds added: “Whilst the protection gap is still of great concern, it’s been heartening to see growing interest, from both intermediaries and clients, in ensuring that cover to protect the interests of families, individuals and businesses in the long-term is in place.”
Research from the Association of Mortgage Intermediaries in September found greater take-up of general insurance among consumers compared to protection.
A third of consumers said they had life insurance, and one in 10 critical illness insurance, while 61 per cent said they had contents insurance, and 51 per cent insured their buildings.
However, an October survey by Guardian found protection conversations were becoming increasingly common for advisers.
The provider found 85 per cent of advisers who previously did not talk about protection were doing so.
Additionally, three-quarters of advisers said clients were more willing to discuss protection compared to before the pandemic.
chloe.cheung@ft.com
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