Jelf GroupOct 17 2016

Jelf Group signs deal with specialist sports insurer

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Jelf Group signs deal with specialist sports insurer

Specialist insurer for sportspeople ProSport has signed a trial partnership with Jelf Group.

Under the deal Jelf Group will provide general insurance and financial planning services to ProSport clients.

Guy Horchover, the head of ProSport, said the decision was made after its clients at the Professional Cricketers Association and the Rugby Professionals Association said their members needed better financial planning which they weren’t getting from the mass market.

He said: “The trial will focus on current professional sports men and women. 

“However we also look to assist a number of retired players who are now pursuing other careers.

“New professional players are also an important group as many may not ‘make it,’ so they need to have invested wisely for the day when they have to retire from sport.”

He said between 15,000 and 20,000 sportspeople would qualify for the proposition. 

Footballers would be the major customer segment but thousands of others include 800 rugby players, 400 cricketers, 5,000 golfers, as well as athletes, tennis players, jockeys, darts, snooker and motor sport.

Chris Jelf, founder of Jelf Group, said that specialist insurance and financial services for sportspeople was a growth area, because “they are ignored by the broader insurance market as insurance becomes increasingly commoditised”.

He said: “Communities with particular requirements are underserved, which in turn is leading to the growth of tailored propositions by specialist brokers, such as our partnership with ProSport, to service their needs.” 

Consultancy firm Mercer, a wholly-owned subsidiary of Marsh & McLennan, completed its purchase of Jelf in December 2015.