Protection Matters Support Service

Jon Deane, Director at Protection Matters introduces the online protection service and explains how the process works for mortgage brokers and their clients.

Who are Protection Matters?

Protection Matters is a business that’s designed to take the potential aggravation away from the adviser and to commercially provide a very beneficial income strategy. In other words, we will take any lead enquiries on protection and our expert advisers will deal with the whole process, from the advice, right through to the processing and completion.

Why should mortgage brokers use the service?

The service provides high conversion rates with experts in their field, and the positioning with the client means that they will convert more.

There is also far more comprehensive protection for their clients, which results in high case sizes and also persistency. This gives more time available to the adviser so they can focus on their core business – the mortgage process, as all the advice and also the administration is taken away.

It also takes away the stress of underwriting for the adviser. Many clients for example, have a less than straightforward medical history typically, and finding the right providers, who offer the best protection from those is most important to the adviser. It also makes the clients journey much easier.

How does the process work?

The process works through an online inquiry portal. An adviser sends through very basic details on the client and their needs, which sends the enquiry directly to our adviser team. They will acknowledge the need and act on the instructions given.

The life writer will make contact with the client as per instruction and will discuss what exactly the client is looking for, to find the solutions for them. The original adviser will be updated through online case progression sheets, detailing the initial outcome and the progress up to the point that it is put in force and any commission is paid. The progression sheet is ongoing, so at any time, the adviser will know exactly what is happening with their client.

The admin team will be chasing throughout on the adviser’s behalf, so everything is taken away from the adviser. But, we would be working very hard in the background to ensure it’s a very quick and smooth journey.
To make sure that there’s no concerns, the client is very much retained by the adviser who introduced them in the first place and not by ourselves.

Do you have anything else to add?

We have tried to make the process as straightforward as possible. The Financial Conduct Authority (FCA) has recently increased the responsibility on the shoulders of advisers to ensure that suitable protection advice is delivered. With all the other responsibilities they have already, I think the service at Protection Matters could be a very beneficial opportunity and also commercially very viable. All I would say is try it.