The Growth Series

Podcast #29 - Financial protection for higher risk clients



In episode 29 of the Growth Series podcast, Chris Hill, Regional Sales Manager at Accord Mortgages, is joined by Tom Horton,  Managing Director of The Insurance Surgery, a specialist insurance broker. Together they discuss the importance of protection, how brokers can pitch the product to clients, the compliance regulations they need to be aware of, and how the market is developing.  

Many brokers consider providing financial protection to clients an important part of their proposition. However, those clients who are perceived as higher risk may not be served as well as more ‘straightforward’ clients. This podcast explores this subject and why brokers may be missing a trick in terms of providing protection for all clients, regardless of their circumstances.

Protection often takes a back foot on most people’s list of priorities, well behind mortgages, investments and pensions. After all, clients want to move into their new home and spend money on decorating it, so paying for insurance can feel like a bit of a drain on the budget, since clients don’t get something tangible for their hard earned cash.

It’s that budget that drives the approach brokers should take. Knowing a client well enough to advise them on any topic should, in essence, naturally lead you to a place where you know most of the information you need to inform their decision. In a perfect world, and purely because it provides them with a real safety net of cover, you would love your client to have a suite of products. 

As time progresses, brokers are playing an ever greater role in helping people get the right protection for their circumstances.

The Growth Series is a dedicated resource that aims to help mortgage brokers grow their business using digital and communications marketing techniques. For more hints and tips on how to grow your business, you can sign up to the Growth Series for free, here.

0.00 - 1.37 Welcome and Introduction

1.38 - 13.15 Chris Hill and Tom Horton ask:

  • Why is selling protection consistently a hot topic?
  • How can brokers ensure clients’ protection needs are met?
  • How can brokers sell protection alongside other products?
  • Should businesses have protection specialists?
  • When should brokers refer clients to third party specialists?
  • What compliance regulations should brokers be aware of when selling protection?
  • What tools help brokers source protection products?
  • Can providers do more to help brokers in the protection market?
  • How might the future of the protection market develop?

13.16 - 14.24 Outro


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