The Pioneer Friendly Society says it plans to become a top ten income protection insurance provider and has announced a 21 per cent increase in new business for 1999.
New premiums rose to £4.35m in 1999 from £3.3m in 1998.
The Wiltshire-based IFA-only office is kicking of its grand plan with a new product and website to make IFAs customer servicing easier and hopes to up its number 20 position in the market.
It has re-vamped its existing income protection plan building in greater flexibility making it more “IFA friendly.”
It includes waiver of premium, three new deferred periods and doubling the benefits available to housepersons, plus an improved definition of incapacity.
The product pays commission at 130 per cent of Lautro and has no loadings for high risk occupations or gender.
The website has been designed to be fully interactive and user-friendly, allowing IFAs to obtain quotations and documentation as well as send proposals on-line.
The website launch will co-incide with a re-vamp of the society's product literature. Pioneer says the changes responds to the specific needs of IFA and their clients.
Pioneer chief executive Paul Protheroe says: “Our aim is to be one of the top ten providers of individual income protection insurance in the UK and this product launch will considerably widen the opportunities for IFAs to recommend us to their clients.”