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Bankhall founders aim net deal at GI and loan advisers

Hogarth and Taylor planning streamlined online service to encourage IFAs to sell ASU and B&C policies

Bankhall founders Paul Hogarth and Simon Taylor are setting up an online protection platform targeting mortgage and gen-eral insurance advisers.

The duo, who announced their departure from the network in August, will handle all Bankhall’s buildings and contents and accident, sickness and unemployment insurance sales initially before opening up the service to the wider adviser market.

Hogarth says many advisers avoid selling ASU and B&C policies, deeming them to be too much work for too little return, and believes that a streamlined online process will make the products more profitable to sell.

The as yet unnamed firm aims to have the platform, which will be predominantly online-focused, operating by February 2006.

Webline is supplying the back-office systems which will offer policies from a panel of major underwriters, with the option of setting up a single-tie if preferred. Hogarth says if a single-tie is requested, a preferential rate could be negotiated.

He insists that the firm will not be competing with Bank-hall in the mortgage and protection markets.

Hogarth says: “We want to streamline the whole mortgage process to make it easier for advisers to write mortgage business. Often, B&C and ASU are not seen as a profitable option because of the numerous systems that advisers need to use.

“This will put it all in one place, streamlining the system from fact-find right through to completing the application.”

Brunning Newman Hough-ton director David Brunning says: “I think they might be treading a very well trodden path. Paul and Simon are very much associated with Bankhall and its treatment of ex-ISL members and I would be loathe to put business their way again.”

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