As the cost-of-living crisis persists, UK consumers are increasingly looking for ways to reduce spending. As a result, one in ten people with protection plans in the UK are now considering reducing or stopping their protection premiums.
However, whilst it may be tempting for households to cut back on protection products, it’s evident that planning ahead for our financial futures is now more important than ever. The correct cover is a crucial investment into safeguarding people’s homes and possessions at a time when their capacity to save – and therefore their overall financial resilience and ability to cope with unexpected expenses – may be reduced.
In the current climate, advisers will need to renew their focus on highlighting the benefits of protection products and the important role they play in safeguarding clients from financial shocks further down the line. Brokers should, in particular, seek to support clients by helping them assess their circumstances to find cover that is the right fit, whilst ensuring that they understand the risks of forgoing insurance protection.
With this in mind, Smartr365 has partnered with protection provider, Uinsure, to offer home insurance via the Smartr365 platform. Within seconds, clients will now be able to access quotes for home insurance, without having to consult external brokers. Instead, advisers utilising Smartr365’s tools can offer clients a total-solution packaging across borrowing and insurance.
Furthermore, auto-fill technology means that brokers that have initially typed in client data through Smartr365 will be able to create, tailor, and compare quotes in seconds, eliminating the need to re-key personal details entered elsewhere on the platform. A streamlined process also prevents consumers finding themselves without sufficient cover as a result of inaccurately entered information.