Paradigm Group has launched a new protection proposition aimed at brokers and advisers who are “looking to maximise their protection business levels”.
Paradigm Protect has been designed to offer a comprehensive range of protection products to advisers who already operate in the sector or who are looking to develop their client offering to include protection, the company said in a statement.
Paradigm added it believes the protection market continues to offer “great opportunities” for advisers wishing to ensure clients are fully covered in the event of death or illness as the ‘protection gap’ continues to grow.
Product categories offered by Paradigm Protect include basic term assurance, whole of life policies, critical and serious illness, income protection, family income benefit, general insurance, impaired lives policies and cover for the over-50s.
Pardigm claims the new proposition is a “new concept” in protection as it offers all of the products through one online portal.
Future plans include the development of additional protection product lines such as medical insurance and group business cover as well as an evolution to the business to consumer-based technology, the company said.
Paradigm Protect will be headed up by Mike Allison in the new role of head of protection.
Bob Hunt, chief executive of Paradigm Mortgage Services, said: “We have spent a considerable amount of time and resource putting together a protection proposition which will appeal to existing protection advisers and those looking to make a considerable splash in this marketplace.
“We have established both a whole of market plus an elite choice panel that offers advisers a full range of the different product options available, ensuring that the commission terms we offer compete exceptionally well in comparison to other distributors.
“At the same time we are supporting our users with marketing, IT and compliance support in order to make sure they are seeing the full benefits in providing protection advice.
“We fully believe we have a proposition that will add value for users and that advisers active in the protection space should seriously consider Paradigm Protect in order to maximise the range of products available to their client and to secure the best support and terms they can.”