Sourcing system Mortgage Brain has teamed up with insurance provider Payment-shield to provide software, giving IFAs free access to mortgage and insurance products.
The move comes as Mortgage Brain integrates its software with Paymentshield's Inertia quotation system which currently gives 12,500 intermediaries access to a range of general insurance and protection products from a selection of firms.
When processing Inertia insurance proposals through Mortgage Brain, intermediaries will get a £7.50 credit against their £29.95 monthly Mortgage Brain subscription and will ultimately get the service free.
It decided to link up with Paymentshield because it gives access to several big insurance providers rather than just selling its own products.
It says brokers can now use Mortgage Brain as a one-stop shop for mortgage and insurance products to give clients instant quotes and decisions.
Paymentshield is starting a series of UK-wide roadshows this week to promote the new service to intermediaries.
Mortgage Brain chief executive Mark Lofthouse says: “This is a tremendous offer for intermediaries as not only do they benefit from the innovative and all-encompassing sourcing cap ability but they can now access the leading insurance products and transfer client information directly between the two systems.”
Paymentshield marketing director Gareth Riding says: “This initiative offers intermediaries the best of both worlds – it is now possible to provide compliant mortgage illustrations and competitive insurance quotations though one fully integrated system.”
The project process
Our research, called The Focus Quotient, indicates that 2003 will be a strong year for the adoption of e-commerce in the life and pensions market.This study of key providers forecasts that as much as 60 per cent of new business could be processed electronically by the end of the year. The rash of new regulations […]
Fidelity continues supermarket sweep
Fidelity increased its stranglehold on fund supermarket Skandia's list of best-selling Isas last month, accounting for three of the top six funds on the platform.The US giant's special situations, moneybuilder income and European funds came in first, second and sixth respectively. Jupiter's flagship income fund, which was second in January, dropped back to third place. […]
Skandia wins battle of the supermarkets
Skandia's fund supermarket is the most popular among IFAs, coming ahead of Fidelity's Funds Network, Cofunds and Selestia, according to the State of the IFA Nation poll.The survey found that 44 per cent of IFAs prefer Skandia compared with 29 per cent who opted for Funds Network and 26 per cent who chose Cofunds. Five […]
Cavendish says pension savers have their heads in the sand
Forty two per cent of consumers believe their occupational pension scheme is all they need for retirement, according to research by Cavendish Asset Management. Despite the closure of many schemes, 52 per cent of people under 30 are putting all their trust in an occupational pension. However only 18 per cent of those questioned believe […]
ONS data shows UK companies employ nearly five million people worldwide
New figures requested from the Office for National Statistics by Jelf International reveal the countries with the largest numbers of employees working for a UK-controlled parent company (known as UKFAs or UK foreign affiliates).
Newsletter
News and expert analysis straight to your inbox
Sign up
AJ Bell: Advisers will not get preferential terms in IPO
Advisers will not be eligible to become shareholders in AJ Bell when it floats unless they are a customer of a business, the platform has said. The business is preparing to list on the main market of the London Stock Exchange either in December or early 2019. As part of the listing, AJ Bell is […]
DB paraplanner appoints liquidator after restriction strangles income
Paraplanning firm Heather Dunne Consulting has gone into liquidation after its principal restricted its pension transfer permissions. Adviser Heather Dunne founded the firm in 2002 to support advisers doing pension transfers and the firm’s biggest client was HDIFA. HDIFA is also run by Dunne but was placed on voluntary suspension in July 2017 when it was […]
Tony Wickenden: More pressure on shielded UK business profits
HMRC is tightening the screw on tax avoidance involving profit fragmentation Tax avoidance continues to drive Treasury and HM Revenue & Customs activity. Over the summer, the Revenue published responses to its consultation on proposals to tackle schemes designed to move UK business profits outside the charge of UK tax, often using offshore trusts and […]
Comments