Life insurance broker Reassured has launched an advice arm as it pursues plans for expansion.
The broker has launched Reassured Advice with an advised team managed by Amanda Curwood, previously of insurance broker LifeSearch.
It has also recruited Lucy Brown, formerly head of protection at L&C Mortgages, as corporate relations manager.
The broker has also partnered with an undisclosed fintech firm to provide a new direct-to-consumer proposition aimed at its own new business customers and, on a white label basis, future corporate partners looking to offer a point-of-sale solution to their customer base.
Phil Jeynes, director of corporate strategy at Reassured, said: “Having long dominated the non-advised, telephony sector we are now broadening our scope to offer a range of ways to buy cover.
“Our new propositions will mean that we can offer a wider range of products to more customers, as well as being able to deliver a tailored, end to end solution for potential partners.”
The broker’s advice launch comes as data from technology provider iPipeline showed new business volumes through its adviser platforms were up 10 per cent year-on-year in the first quarter.
Decreasing life applications were up 21 per cent compared to Q1 2020, with level life policy sales also up on last year by 16 per cent.
Critical illness volumes also increased, with level CI up 12 per cent year-on-year and decreasing CI up six per cent.
However, volumes for underwritten whole-of-life were down 23 per cent compared to Q1 2020, while income protection sales fell eight per cent.
Mortgage brokers saw seven per cent growth compared to Q1 2020, and independent financial advisers a 3 per cent uplift compared to the first three months of last year.
Paul Yates, product strategy director at iPipeline, said: “Our Q1 data shows increases across life and critical illness and an uplift across all channels.
“The pandemic has made people realise they need protection more than ever and the best intermediaries are becoming more efficient and effective.
“We therefore expect to see protection volumes continue on their pre-pandemic grow trends driven by better products, better advice and sales process and better technology in 2021.”
chloe.cheung@ft.com
What do you think about the issues raised by this story? Email us on FTAletters@ft.com to let us know.
