Financial Adviser Sesame has launched a new general insurance product range, Sesame Insure, in conjunction with Royal & SunAlliance who will administer and underwrite the business.
Sesame Insure will enable advisers to offer their clients home and contents insurance cover, along with mortgage payment protection.
Research undertaken by Sesame found that 76% of advisers write general insurance business on a regular basis, and 66% of these said they expected general insurance to become even more important in the future.
Of the business being written by these advisers, 90% of general insurance sales were associated with a mortgage.
Of the regular writers of general insurance business, household (buildings and contents) was found to be the most popular cover and has been sold by 95% of these advisers over the last year.
This is followed by mortgage payment protection, which has been written by 82% of advisers over the same period. In stark contrast, motor insurance was only sold by 7% of advisers, demonstrating the large market share taken by direct and internet writers.
Stephen Young, Sesame sales & marketing director said: “Advisers are increasingly seeing the opportunity to integrate general insurance into their business, in order to enhance their service to clients in the face of growing competition, and increase revenue for their firm.
"The combination of a new regulatory environment and new technology has helped to streamline the sales process, and make this a very cost effective sale. The case for general insurance is a compelling one and I would urge all advisers to consider the benefits, particularly those who are already active in the mortgage market.
“When developing Sesame Insure, advisers told us that high quality products and excellent service were the two features they were most interested in."
