The Intermediary – April 2025 - Flipbook - Page 63
P RO T E C T I O N
Opinion
needs in the home
life-cycle
and when their home is having work
done to it.
While some providers might
require notification if their property
is undergoing renovation works,
Paymentshield does not – as long as
the property is not unoccupied for
more than 60 days.
However, there might be things that
fundamentally alter the risk profile
of the property that require notifying
the insurer – for example, adding
bathrooms or bedrooms. This provides
another opportunity for advisers to
point out the differences between
products and add value with their
advice, to make sure customers don’t
get caught out.
The profile of your customer is
likely to continue changing as they
get older. Growing families might
make optional extras – like accidental
damage or home emergency cover –
more of a priority.
In addition, they will naturally
acquire more contents over time –
including ‘big ticket’ items that may
need specifying on their policy.
Middle age might bring with it more
household movement. Elderly parents
might move into the home, adding
another household’s belongings and
valuables to their own. Children
might move out and go to university,
so clients might need reminding that
policies may also include cover for
contents removed from the home and
taken to student accommodation.
For advisers, identifying these
emerging needs is where they can
really add value.
Finding touchpoints
Since home insurance renews
annually, it enables advisers to
maintain more regular customer
contact than the mortgage cycle alone.
However, the mortgage cycle does,
in turn, also offer some natural ‘GI
review’ touchpoints.
The remortgage stage, for example,
provides the perfect opportunity to
remind clients about the benefits
of their policy and to check if any
changes need to be made to make sure
it continues to fully meet their needs.
Moreover, ensuring your clients
have the right home insurance for
their needs has never been easier
– advisers can be reassured that
tracking this over a lifetime is really
not as resource-intensive as some
might think.
Our optimised quote journey means
quotes can be generated in less than
one minute, and there are multiple
options for advisers looking to make
GI a core component of their business
– from bespoke integrations to the
creation of embedded insurance
journeys that eliminate the need to
rekey information. There’s always
the option of referring, too, enabling
your client to still have an advised
conversation when they’re purchasing
a new policy.
We’re all guilty of puing ‘life
admin’ on the back-burner, and for
some homeowners, home insurance
can be in danger of falling into this
category. Advisers are an essential
guard against this. Aer all, when you
buy a home insurance policy, you’re
really buying peace of mind – and too
oen, customers only realise the value
of ensuring they have a fit-for-purpose
policy when it’s too late. ●
