Protection Update 28th January 2022

Protection update 28th January 2022

Virtual Roadshows & Guardian Flexible Commission

Hi everyone and welcome to this week’s protection update.

It’s a short update this time, but have you registered for our roadshows starting NEXT WEEK?

Yes, we’ve been forced to do them virtually.

That was never our intention when we started planning our roadmap for 2022 but these things take quite a lot of planning and if you remember that word ‘Omicron’ from a few weeks ago; that had everyone quite nervous about this Covid situation and we ultimately couldn’t do face to face events.  It was not for the lack of trying!

But we will – very soon – and we will be announcing a full set off those shortly.

But in the meantime, we’ve got 4x virtual roadshows that are happening on the dates we planned to come and actually see you…

So, what have we got lined up?

Well Bob Scott and myself will be hosting each session and we’ve got a different mortgage lender each time talking about opportunities and challenges for you, right now and this year.

• 10am  – Bob Scott – Opening Comments
• 10:15     Key note – Mortgages 2022 – Opportunities and Challenges
• 10:40     Paymentshield – General Insurance, Q&A
• Break
• 11:15     Better Pre-Underwriting
• 11:45     Vincent – Raising the bar: Reasons to Recommend Protection
• 12:30     Bob Scott– Closing Comments

Did you see Amy Wilson’s note at the end of last year about Paymentshield?  The landscape is changing as it always does in our industry and you’ll get to hear from Paymentshield on each roadshow including a Q&A session.

We’re going to have a comfort break in the middle and then after that, we’ve got an intriguing session called ‘Better Pre-Underwriting’?  What’s all that about you might wonder.

Well, if you don’t already know, I’m not going to spoil it.

But, have you ever had a protection case where you just didn’t know where to place it?  Did they have a medical condition and you were sat there wondering which provider might treat that the most favourably.

It’s a tough job when you get one of those – but it happens all the time and I wonder how much business we lose?

But also, what about the situation where you do your sourcing; make a recommendation, only to be hit with a rating on the premium when you receive your terms – which you’ve now got to go and explain to your clients?

It’s not skiing downhill; it’s skiing uphill and it’s a payment shock to the client.

You told me £50 per month but now its £100?  Why am I going to pay that?

Well, these are all modern issues we need to be able to cope with and if you join us on one of the roadshows, we’re going to address that problem I’ve just laid out.

And my final session is called “Raising the Bar; reasons to recommend protection”.

We’ve got some brand-new client facing sales aids which are going to help you recommend more bespoke protection solutions to your clients.

I don’t want to give too much away, but it should be interesting and fun – so please join me there!

This is your last call to action – 2x roadshows next week on Tuesday and Wednesday.  Then 2x more roadshows the following week on Tuesday and Wednesday!

Guardian Flexible Commission – New Insight Podcast

Now we’ve been talking about commission recently with the release of our Elite proposition and new commission tables.

2-year terms are now available with Guardian, although there is a signoff process and these aren’t naturally available to everyone.

Now I know many of you have jumped at the chance of 2-year terms with Guardian, but please take a look at this week’s Protection Insight Podcast.

In the Right Mortgage and Protection Network, I’ve had many conversations with advisers about mitigating risks and we’ve often debated 4-years versus 2-year commission terms.

Well, I met up with Sam Davis from Guardian and we took a proper look at the idea of flexible commission which to me feels like MORE commission, with LESS risk, for NO MORE WORK.

If you’re genuinely thinking about limiting your risk liability, just take a look at this podcast.

From what I’ve seen, Guardian is one of the most flexible providers when it comes to deciding how you want to get paid, so take a look and let me know what you think?

So that’s it from me for another week.

Don’t forget to register for one of the roadshows.  And I’ll see you next week!