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Protection business buoyant after software deals

Direct Life & Pensions’ new business figures for January leapt by 64 per cent from the same time last year.

It received 7,100 proposals compared with 4,300 in January 2007.

The firm signed deals with several companies in 2007 to provide its Intelligent Protection software, including Network Data, Aberdein Considine, Motley Fool and Dunfermline Building Society.

The software is marketed to advisers who may not be experts in protection.

After factoring in the new partnerships, DL&P expected to receive around 5,300 proposals in January but exceeded its new business expectations by 33 per cent.

Sales and marketing director Richard Verdin says: “We are releasing these figures to help persuade others, in particular advisers, about the opportunities presented by the protection market. Here is encouraging news confirming that customers really do want the products that are available when they are offered.”

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