Home & Legacy has signed up to SSP’s new household trading solution, specifically designed to overcome the processing inefficiencies still commonly endured by brokers in the mid and high net worth space.
Brokers placing mid and high net worth household policies generally have to trade manually using traditional methods or through insurer portals, forcing them to re-key data on numerous occasions to generate the comparative quotations needed for clients.
Working together, SSP and Home & Legacy are creating a range of products to overcome this issue and enable brokers to enjoy the efficiencies created by working directly through their SSP broking system.
For brokers this creates game changing benefits in a market that is becoming increasingly competitive. Working via their SSP system, brokers will get immediate access to a range of Home & Legacy products in a faster and more efficient manner.
This allows them to quickly present business to their underwriting partners, swiftly satisfy customer needs and deliver an even better service to their increasingly demanding customers. In addition, the solution puts the broker in an excellent position to up sell additional services and benefits.
Jason Moseley, Head of eTrading, at SSP said: “Many brokers have told us that they felt that the mid and high net worth market had been left behind in recent years. By working with Home & Legacy we will create a flexible solution that will make it faster and easier for them to place mid and high net worth business with leading providers in the market.
“In this growing sector of the market, innovation and evolution are essential and we have very ambitious plans for this new proposition which we believe will go from strength to strength.”
With over 1,000 SSP brokers able to gain access to these products, the partnership with Home & Legacy will drive significant transactional costs out of this market and give brokers the potential to grow sales volumes significantly.
Barry O’Neill, Managing Director at Home & Legacy said: “By working together we’re developing a solution that will really let brokers compete against the direct writers in this space and offer their clients excellent policies that can be sourced, delivered and serviced very efficiently.”
He added: “This is not about commoditising the mid and high net worth market, but about achieving transactional efficiency – helping brokers work in the way and the sort of timescale that clients now demand.”
The first product will be available to SSP brokers from this month.