Network Data has signed a deal with private medical insurance introducer PMI Partners.
Under the deal, Network Data’s 700 mortgage brokers will gain commission for introducing clients to PMI Partners who will then organise the cover.
Network Data says brokers often shy away from PMI because they believe it is too complex and fear the compliance involved.
Ian Sawyer, managing director at PMI Partners, says: “Brokers have a new income stream and can now provide their clients with access to an independent expert review of their PMI needs.
“The client saves money and receives the PMI advice required and the broker collects a third of the commission that would be lost to them if the business were to be turned away as outside their scope. The broker is also protecting their client relationships and treating customers fairly.”
Network Data insurer partnerships manager Robert Winter says: “Feedback from our intermediaries revealed there is real demand from clients for private medical insurance.
“Network Data is pleased to have teamed up with PMI Partners who have a system that helps with a smooth and simple introducer proposition which is backed by great service.”