British Insurance is teaming up with Moneyquest to set up a specialist income protection brokerage service which will launch on February 1.
British Insurance invested 500,000 last year to buy internet domain name incomeprotection.co.uk and will be rolling out the IP broker service through this website.
Lifesearch and Torquil Clark Life Insurance were the two other main contenders considered by British Insurance.
Customers will have three options when they go on the website. They will be asked if they want to buy a short-term IP product or a long-term IP product from British Insurance or a whole-of-market option.
If they choose the whole-ofmarket option, they will fill in an enquiry form and will be called back by a Moneyquest adviser within five minutes.
British Insurance managing director Simon Burgess says: “We considered both Lifesearch and Torquil Clark Life Insurance seriously but they were not in the same league as Moneyquest. Their conversion rates were not as good and neither were some of the sales processes.”