Former Torquil Clark Life Insurance directors Jason King and Simon Platt are looking to launch an online protection brokerage by the end of the summer.
The pair left Torquil Clark in August last year, two years after it acquired Life Policies Direct, which they founded in 1999.
The online brokerage will provide advice and quotations as well as allowing consumers to buy protection products online, something which King says is difficult to find.
King and Platt say they aim to reduce the burden of protection applications for brokers and consumers.
King says: “We are looking at how we can use the web to help consumers buy protection products. You can currently go to a broker’s website, fill in a form, speak to an adviser and perhaps even get a quote but you cannot follow through and buy the product. This is what we are looking at doing.
“We have talked about the process a lot – how expensive it is for brokers and how frustrating it is for consumers. We want to reduce that burden.”