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Reliance Mutual seeking to white-label protection range

Reliance Mutual Insurance Society is looking for new partnership deals with advisers which want to brand their own protection products.

It is offering a partnership package where it will white-label its protection products to advisers while providing all back-office services.

The partner will deal direct with clients and market the protection products. Reliance Mutual is looking for partners with scope to produce upwards of 2,000 sales each year.

It believes mortgage firms will be most likely to want to enter into this kind of partnership, having begun to realise the added value they can offer, as well as the procuration fees.

As part of the package, Reliance Mutual will provide a range of term insurance, whole of life and critical-illness products, which can be tailored for each partner. There are no plans to introduce income protection or private medical insurance within the package.

Back-office administration services will be menu based and will include policy issue, premium collection, commission payment, client administration and claims processing. Reliance Mutual can also provide compliance and underwriting support.

The decision to begin a white-labelling relationship comes as part of Reliance Mutual’s growth plans, which include the acquisition of closed books.

Chief executive Les Etheridge says: “This is an attractive commercial proposition for the creation of white-label products with large parts of the administrative and underwriting processes undertaken by an efficient, experienced organisation.”

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