Paradigm Protect has announced a new introducer relationship with health insurance advice specialists ActiveQuote.
Members of the protection proposition for advisory firms who might specialise in the health insurance market will be able to refer clients to ActiveQuote which provides advice and quotes from a range of the UK’s leading insurance companies.
Advisers who opt to use ActiveQuote will receive 25 per cent of the commission, with no clawback on commission for any client policy cancellations.
The health insurance advice specialists will also keep an adviser up-to-date with the progress of their client’s plans.
According to Paradigm Protect, the FCA-regulated firm deals directly with a large number of insurers, including Bupa, Aviva and Vitality Health.
Mike Allison, head of protection at Paradigm, said: “Not all those advisers offering protection advice can be specialists in every single area, and we have found that the health insurance market is one that a number of advisers are not active in.”
“By working with ActiveQuote, Paradigm is opening up this product space to our membership, meaning clients need not have to be turned away and the adviser can secure additional income.”
Brian Hill of Wiltshire-based Jones Hill Ltd said: “Financial advisers often have their own contacts and they normally have reciprocal agreement with their local private medical insurance brokers. Also many independent financial advisers are moving away from the commission model.”
