Hill House Hammond, the UK's largest high street broker, has introduced a cashback scheme to entice new and existing customers with refunds of more than £100.
New customers who take out buildings, contents and motor insurance with Hill House Hammond will receive a refund of £35 for each policy, up to a maximum of £105 for all three policies.
Existing Hill House Hammond customers can benefit under a related scheme, which rewards them for bringing in new business.
They will receive £25 in cash vouchers for each motor policy they bring in and £15 in vouchers for each household policy. These can be exchanged for goods at more than 4,000 retail outlets.
This scheme is designed to reward personal lines customers for their loyalty and will be available through the UK broker's network of 240 branches, three call centres and website at www.hhh.co.uk.
“We hope our brokers will use the cashback offer to generate new business through their local affinity schemes and relationships with third parties such as community groups and sports clubs,” said Hill House Hammond spokeswoman Alex Lovesey.
He added that the version of the scheme for new customers is being carefully marketed to ensure that it attracts insurance customers the broker may otherwise not reach.
However, HHH stressed that there were no official targets for how many new policies should be sold.
Although the company has Norwich Union as a major shareholder, the insurer would not receive any preferential treatment under the scheme in terms of receiving new business.
HHH added that existing customers would benefit under a different version, in recognition of the fact that much of the broker's business comes through personal recommendation.
The cashback scheme is the brainchild of Hill House Hammond business development director John Palmer.